CDFI Fund Assessment of Award Recipient Performance After Sandy
After Sandy, the CDFI Fund conducted an assessment of the performance of the organizations it supports through grants and the NMTC and found that despite experiencing the damage as flood waters reached their buildings, CDEs and CDFIs once again demonstrated how their flexibility and adaptability make them an important partner in times of crisis. Ten CDEs and CDFIs suffered damage to their offices, i.e., no electricity, heat, phone, Internet, etc. One respondent, Enterprise Community Partners, sustained serious damage and flooding in its New York office. Below are a few of the initiatives reported in the assessment:
- Empire State Development Corporation (in partnership with the Governor’s office) launched a number of assistance programs to address the needs and concerns of the businesses in the areas affected by Superstorm Sandy.
- Enterprise Community Partners launched the Partner Support and Rebuilding Fund (Fund) to provide financial assistance to help its affordable housing partners with immediate recovery and rebuilding efforts.
- Low Income Investment Fund committed $1 million (as of November 2012) to ensure that those hardest hit by the storm have access to food and much needed services.
- Primary Care Development Corporation and the Community Health Care Association of New York City (CHCANYS) co-directed the Primary Care Emergency Preparedness Network (PCEPN), a New York City Department of Health and Mental Hygiene initiative to provide primary care representation at the New York City Emergency Operations Center (EOC). Before, during, and after the storm, PCEPN enabled a core group of approximately 27 primary care networks representing over 90 primary care locations throughout New York City to stay updated about storm situations, resources, and recovery efforts.
- Seedco Financial Services (now TruFund) developed a Small Business Recovery Initiative geared toward addressing a targeted set of disaster recovery related needs for small businesses that suffered from storm-related impact
CASE STUDY: St. John’s Bread & Life
Shortly after Sandy made landfall in New Jersey, the Low Income Investment Fund (LIIF) committed $1 million to relief for communities ravaged by the hybrid storm.
Among the first projects that LIIF supported was St. John’s Bread & Life, an emergency food provider that used its mobile soup kitchen in the immediate aftermath of the storm to deliver thousands of meals and supplies to affected areas.