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For Immediate Release
February 7, 2006 |
Contact: Patricia Dashiell
(202) 895-8900 |
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Foundation Makes Investment in the Future
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Freddie Mac Foundation awards Community Preservation and Development Corporation $75,000 for youth development program
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Washington, DC - The Freddie Mac Foundation awarded Community Preservation and Development Corporation (CPDC) a $75,000 grant. This grant will support youth development programs for children ages 6-18 who are residents of Edgewood Terrace and the surrounding Northeast community.
"Youth must have constructive, educational, and fun after school opportunities to ensure that they stay focused on learning and succeeding," explained Maxine B. Baker, president and CEO, Freddie Mac Foundation. "Our investment will help CPDC provide more enriching opportunities to a neighborhood and children that need it, and we are proud to be a part."
The youth at Edgewood Terrace attend schools where the majority of the students fall below acceptable proficiency levels in literacy and math and dropout rates are high. Additionally, they do not always have the necessary access to cutting-edge technology to prepare them for today's market place.
To address these challenges, CPDC uses a combination of academic enrichment, technology, and experiential learning activities to assist kids in achieving the following competencies: (1) acquiring and practicing essential reading, math and skills; (2) achieving success in school; (3) engaging in vocational exploration; (4) gaining appropriate relationship and conflict resolution skills; and (5) using computers and various other media to learn technology skills to complement studies. Where possible, these experiential learning activities are based on DC standards of learning.
"Making an investment in a community means making an investment in the residents," stated J. Michael Pitchford, CPDC's president and CEO. "CPDC will be able to leverage these funds to support the academic, economic empowerment, and music programs at Edgewood."
All Edgewood Terrace youth have the opportunity to learn the basics of music and composition through lessons and supervised use of Acid Music software. Older youth can study all aspects of the music industry and can perform and record their own music. Through CPDC's Finance Program, children learn how to finance, stock, staff, and operate their own week-long snack bar. Activities include writing a business plan, loan proposal, applying for a loan, and all aspects of supplying and operating the business.
Coupled with funding from other foundations, organizations, and government grants, the Freddie Mac Foundation's investment will help make these opportunities available for 70 youth over this calendar year.
Created with an endowment from Freddie Mac in 1991, the Freddie Mac Foundation is dedicated to opening the doors to hope and opportunity for children, youth, and families. For nearly 15 years, the Freddie Mac Foundation has invested $174 million in nonprofit organizations to build strong families and strong communities. The Foundation is a strong advocate for children, youth, and their families and supports policies and programs that focus on their needs and foster positive solutions. Today, the Freddie Mac Foundation is one of the largest corporate givers in metropolitan Washington, DC.
CPDC works with residents, governments, and financiers to turn around troubled communities and preserving those subjected to market pressures and rising rents. Wardman Court (formerly Clifton Terrace), Edgewood Terrace, and Southern Ridge in Washington, DC, and Admiral Oaks in Annapolis, MD represent model successes where crime and mismanagement once ruled. Island Walk in Reston, VA and 1330 Seventh Street in the District are examples of where complex financing allowed for sustainability and the opportunity for residents to eventually own their homes. The Wiley H. Bates Memorial Complex in Annapolis, Maryland is CPDC's most recent project combining affordable housing and historic preservation. When finished, it will provide 71 units of affordable housing for seniors. |
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| CPDC's mission is to develop vibrant communities through innovation and partnerships. To accomplish this, CPDC creates and preserves financially sound, socially responsible affordable housing for low- and moderate-income individuals and families and, in cooperation with community residents, develops community programs that strengthen communities and increase opportunities for growth. |
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