We’re thrilled to share that the Rainier Valley Community Development Fund (RVCDF) was recently honored as part of the City of Seattle’s selection for the U.S. Department of Housing and Urban Development (HUD)’s CDBG 50th Anniversary Award early October. The award celebrates the long-standing success of the Community Development Block Grant (CDBG) program and recognizes impactful projects across the country. RVCDF was spotlighted for our transformative role in promoting equitable development in Southeast Seattle.
Since our founding in 2002 to support businesses disrupted by the construction of the Sound Transit light rail, RVCDF has grown into a robust, self-sustaining financial institution. With the City’s initial investment of $24.7 million in CDBG and other local and federal funds, we’ve distributed over $100 million in loans and provided technical assistance to local entrepreneurs, construction trades trainees, and real estate developers—particularly those in communities of color and low- to moderate-income neighborhoods.
As Executive Director Alvertis Brooks Jr. shared, “This recognition affirms our mission to preserve and strengthen cultural diversity, long-term livability, and economic opportunity for businesses of color throughout Southeast Seattle and beyond.” We are proud of our 20-year partnership with the City of Seattle and remain committed to ensuring that our neighborhood continues to thrive in the face of ongoing economic and infrastructure changes.
Read more about the award here.