Greetings,
We're pleased to be sending you the latest edition of our Capital Gains Newsletter.
As we look back on 2010, we would like to thank all of our partners and stakeholders that provide the support that allows us to carry out our mission.
Wishing you all a safe and wonderful holiday season.
Warm regards,  Wayne T. Meyer, President
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New Jersey Community Capital Launches New Website
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New Jersey Community Capital (NJCC) is pleased to announce the recent launch of our new website that provides our partners and stakeholders with the latest information on our financial products and consulting services that support high-impact community development ventures throughout New Jersey.
NJCC's completely revised website offers information about our innovative loan and investment options that support neighborhood stabilization efforts that increase quality affordable housing, boost employment, improve education, and strengthen communities throughout the State. It also provides a detailed history of the organization, explaining how we have grown from a small loan fund in 1987 dedicated to solely financing affordable housing development, to the multi-faceted community investment group we are today with assets under management totaling approximately $169 million. It explains how we now support a variety of sustainable community development projects and provides examples of our work.
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New Jersey Community Capital Releases 2008-2009 Annual Report
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As they say, better late than never! New Jersey Community Capital's stakeholders can now read an overview of some of our successful community development efforts in 2008-2009 in our recently published Annual Report. We've been so engrossed in our work that we've hardly had the time to stop and highlight all that we've achieved with our partners these past few years! This new report offers a glimpse.
The financial collapse of the housing market in 2008 and ensuing economic recession that wreaked havoc on New Jersey's already fragile communities, required New Jersey Community Capital to reevaluate our approach to community development financing. The 2008-2009 Annual Report details how we shifted our resources to be more targeted, applying it to the acquisition and redevelopment of pivotal properties that have the potential to provide a catalytic influence within neighborhoods. This successful formula allowed us to utilize capital in areas where it was needed most and had the greatest capacity to rebuild neighborhoods.
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To receive a copy of our annual report, please e-mail newsletters@njclf.com.
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New Jersey Community Capital: A Leader in Neighborhood Stabilization
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For nearly a quarter of a century, New Jersey Community Capital has remained a leader in the creation and preservation of quality affordable housing in New Jersey-an effort that is paramount in a state where residents face among the highest housing costs in the nation. Through lines of credit, bridge loans, predevelopment financing and other innovative investment solutions, NJCC plays a critical role in providing more New Jersey families access to safe, decent and affordable places to live. Providing the financial backing for affordable housing is centerpiece to NJCC's mission and is the foundation of the organization's sustainable community development efforts.
Recently, in response to the mounting economic crisis, NJCC broadened its affordable housing efforts to include foreclosure mitigation and neighborhood stabilization-related financing. It is in this work that the organization is able to have a hand in rebuilding neighborhoods hard hit by the mortgage meltdown by providing the access to capital needed to turn abandoned properties into places people can once again call home.
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