The People’s Community Development Association of Chicago, Inc. and The NHP Foundation Celebrate Completion of Harvest Homes Apartments with Ribbon Cutting Ceremony

The People’s Community Development Association of Chicago, Inc. and The NHP Foundation Celebrate Completion of Harvest Homes Apartments with Ribbon Cutting Ceremony

Event will mark the first new affordable housing in East Garfield in three decades

PR Newswire

CHICAGO, July 24, 2017 /PRNewswire-USNewswire/ – The People’s Community Development Association of Chicago, Inc. (PCDAC) and The NHP Foundation (“NHPF”), a national not-for-profit provider of affordable housing are proud to announce the ribbon cutting ceremony celebrating the completion of Harvest Homes, an affordable housing complex in East Garfield, Chicago Sunday, July 30, 2017 from 2pm to 4pm at 3520-3542 W. Fifth Avenue. The event is hosted by Reverend Michael Eaddy, President of PCDAC and Pastor of People’s Church of the Harvest Church of God in Christ, Chicago, and Alderman Jason Ervin of the City of Chicago’s 28th Ward. PCDAC is a co-developer of the property.

Expected attendees include Richard Burns, President and CEO of The NHP Foundation, Senator Dick Durbin and other local guests and officials.

“It has long been a vision of PCDAC to bring affordable housing to East Garfield Park, so that residents who desire to remain and raise their families here can enjoy quality housing at an affordable price,” said Reverend Eaddy, adding “We are thrilled to host this event celebrating the first new affordable housing development to be built in the East Garfield area in over 30 years.”

Construction first began on this project in the summer of 2015, and the completed homes have been made available to both low and moderate-income residents. The complex features 36 units and includes an array of two, three, and four-bedroom apartments. In addition, Harvest Homes offers occupants amenities such as energy efficient appliances, off-street parking, exterior security cameras, and in-unit washer and dryer hook ups.

The event will feature a tour of the property, refreshments and children’s activities.

“The East Garfield Park neighborhood of Chicago is a remarkable component of the revitalization of Chicago’s West Side,” according to NHPF’s President and CEO Richard Burns, “Replacing vacant lots with safe, quality housing not only attracts new residents, but strengthens the sense of community in the neighborhood as well. With quick access to the Garfield Park Conservatory and expressway, the neighborhood is becoming an attractive place to relocate for those seeking affordable housing in Chicago.”

The $12 million development is a result of a joint venture between People’s Community Development Association of Chicago, Inc. and NHPF. The venture was funded by a variety of both private and public sources, such as the Low-Income Housing Tax Credit (LIHTC) program, the City of Chicago’s Department of Planning and Economic Development, the State of Illinois Department of Commerce and Economic Opportunity, J. P. Morgan Chase Bank, the Chicago Community Loan Fund, Enterprise Community Investments, Inc. and NHPF.

For more information on The NHP Foundation please visit www.nhpfoundation.org or check the organization out on Twitter at @nhpfoundation.

About PCDAC
People’s Community Development Association of Chicago, an affiliate of the People’s Church of the Harvest Church of God in Christ, fulfills community and economic developments and is a pillar in the East Garfield Park community. PCDAC was created in 1999 as a 501(c) (3) not-for-profit organization. Its programs are threefold: job training and placement, youth services for at-risk children, and affordable housing. Their mission is to increase family wealth by promoting home ownership and building affordable housing for residents who wish to remain. PCDAC is committed to making a difference by enhancing their existing programs, to combat disparities in access to resources and unemployment. PCDAC has successfully accomplished its greatest goal yet. The building of Harvest Homes Apartments. Home to 36 families who love their new apartments! This is only the beginning of more great things to come.

About The NHP Foundation
Headquartered in New York City with offices in Washington, D.C., and Chicago, I.L., The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF also provides a robust resident services program to nearly 18,000 community residents. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has 46 properties, including 7,969 units, in 15 states and the District of Columbia. For more information, visit www.nhpfoundation.org.

Media Contact
Marijane Funess
Crenshaw Communications
212.367.9746

 

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SOURCE The NHP Foundation

OPB announces launch of IMCO

OPB announces launch of IMCO

Canada NewsWire

TORONTO, July 24, 2017 /CNW/ – Ontario Pension Board (OPB) is pleased to announce that the Investment Management Corporation of Ontario (IMCO) has officially commenced operations and is now managing the combined $60 billion of assets for both OPB and the Workplace Safety and Insurance Board.

IMCO’s launch is the result of more than 6 years of work between OPB and WSIB to create an asset pooling arrangement that provides broader public sector plans with scale and direct access to private market investments. While OPB and WSIB are the first two plans to pool their assets under IMCO’s management, the intent is to have other broader public sector entities participate in the future.

“We believe asset pooling will allow us to earn higher returns than we could on our own and is in the best interest of our plan beneficiaries and stakeholders. Pooling our assets under IMCO’s management will provide us with the scale we need to achieve cost efficiencies and to invest directly in a diverse range of high-quality investments,” said President and CEO Mark Fuller.

OPB continues to own its assets and liabilities and set the Plan’s Strategic Asset Allocation mix and has maintained a Head of Investments, Ken Lusk to oversee IMCO’s management of the Plan’s assets.

For more information on IMCO and asset pooling, see OPB’s 2016 Annual Report at http://reports.opb.ca/2016/imco.php.

About Ontario Pension Board

Ontario Pension Board (OPB) administers Ontario’s Public Service Pension Plan (PSPP), a defined benefit pension plan serving approximately 41,000 active members and their employers, as well as more than 43,000 retired and former members. The PSPP is one of Canada’s largest and oldest pension plans, successfully delivering the pension promise since the early 1920s. To learn more about OPB, visit www.opb.ca.

SOURCE Ontario Pension Board

View original content: http://www.newswire.ca/en/releases/archive/July2017/24/c5587.html

National NewsMedia Council, Canadian Press join forces in groundbreaking partnership

National NewsMedia Council, Canadian Press join forces in groundbreaking partnership

Canada NewsWire

TORONTO, July 24, 2017 /CNW/ – The National NewsMedia Council of Canada is pleased to announce that The Canadian Press is now a member of its organization.

CP, currently celebrating 100 years as Canada’s national news agency, is the first news service to join the NNC, which was established in September 2015 as a voluntary self-regulatory body dealing with issues of journalistic standards and ethics. The NNC is the successor organization to the former Ontario Press Council, Manitoba Press Council, BC Press Council and Atlantic Press Council. It has over 800 members representing daily and community newspapers, magazines and digital news platforms in every province in the country.

John Fraser, CEO and President of the NNC, says CP’s membership in the NNC is an important step for both parties:

“The Canadian Press is the premier news service in Canada and is enjoying an amazing resurgence in both the traditional print, broadcast and digital news platforms,” said Fraser. “At the same time, the NNC is also striving to show it is more than a single-issue dispute resolution organization, but also an active participant in assisting the journalism and publishing professions to maintain and enhance journalistic and ethical values supported by the Canadian public.”   

Malcolm Kirk, President of The Canadian Press, said: “The National NewsMedia Council plays a critical role in safeguarding the principles of fair and accurate reporting – principles that run through the core of our journalism at The Canadian Press. We are pleased to support John Fraser and his team in advancing the mission of the NNC.”

SOURCE National NewsMedia Council of Canada

View original content: http://www.newswire.ca/en/releases/archive/July2017/21/c1141.html