Another PRO aspect is working with Community Development Financial Institutions (CDFI) to pool resources and build health and education facilities as well as support community services.
Chase’s 2014 $33 million PRO Neighborhood pilot program resulted in raising $226 million, seven times the original amount, more capital for local economic and social service projects.
According to what MHProNews has learned from nationalmortgagenews, “This has resulted in $100 million in loans, financing first-time home purchases, the preservation and development of over 2,000 units of affordable housing, lending to over 130 small businesses, and creating and retaining 2,650 jobs.” ##
(Photo credit: nbcsandiego–affordable manufactured housing)
