U.S. Rep. Bobby L. Rush (D-IL) Recognized For Increasing Minority Homeownership At Congressional Black Caucus Awards Ceremony 1st Congressional District Program Lauded During Best Practices Summit
Washington, DC. ---- Congressman Bobby L. Rush will be recognized as a recipient of the first annual With Ownership, Wealth (WOW) National Program of the Year award, where the Congressional Black Caucus Foundation commended his leadership and development of programs to increase minority homeownership in the First Congressional District.
The WOW Practices Summit in Washington, D.C. hosted by the Congressional Black Caucus Foundation (CBCF) on Tuesday, April 5-6, 2005, is designed to bring together program stakeholders (e.g. members and their representatives, local non-profit practitioners, lenders, and other housing industry professionals) from the local and national levels to discuss strengths and challenges faced in the previous five years and share strategies for strengthening the program moving forward. Upon approval by the CBCF, these practices will be condensed into an action plan for immediate implementation by the WOW program.
Since identifying the Rebirth of Englewood Development Community Development Corporation (ROE CDC) in 2000 as the 501 (3) not-for profit organization, responsible for establishing and executing local WOW initiatives and goals, Congressman Rush has been instrumental in helping more than 100 families close on home mortgages that have totaled $9 million. With minority homeownership currently at 48 percent in comparison to 72 percent of white Americans, African Americans in Chicago and the South Suburbs have benefited from ROE CDCs 10 Weeks to Homeownership, which breaks down complicated details of the buying process.
It is a great honor to recognize Rebirth of Englewood Development Corporation, because they have truly delivered on the Congressional Black Caucus vision to map out a strategy to increase homeownership, said Rush. The true reward, however, has always been taking families of renters and converting them into homeowners, which is the foundation for building wealth.
Congressman Rush has also established the First Congressional District of Illinois Housing Task Force that works directly with ROE CDC, in addition to addressing much wider housing and housing development issues.
In 10 weeks, we provide participants with resources that educate and allow for open dialogue on all aspects of homeownership from reading a credit report, financing and what to look for during walk-through inspections of model homes, said Vincent Barnes, executive director of ROE CDC. We are honored to be first recipients of the Congressional Black Caucus Best Practices award and will continue to break down barriers of misinformation, which has previously discouraged African Americans from pursuing their dream of owning a home.
The next 10 Weeks to Homeownership conference kicks off Saturday, May 14, 2005. To register, please call the Rebirth of Englewood Development Corporation at (773) 778-2371 or visit them on the Web at www.roecdc.net.