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August 11 2005

National Capital Revitalization Corporation Partners with Operation HOPE in Small Business Technical Assistance Program

Washington DC – August 11, 2005 -The National Capital Revitalization Corporation (NCRC) has joined Operation HOPE, Inc. (HOPE) in a partnership to provide technical assistance programs to small business owners living and doing business in the Greater Anacostia area, Ward 7 and Ward 8, and the District. With a $50,000 annual commitment from NCRC, Operation HOPE will provide assistance through the new HOPE Center at 2509 Good Hope Road. As well, through its services network NCRC will refer clients to OHI’s Center from neighborhoods and communities throughout the District and HOPE will help create a pool of candidates for micro-enterprise loan programs and other business development initiatives created by the Corporation.
In addition to the technical assistance program, the newest HOPE Center – the seventh in the United States – will provide local residents with free financial seminars, digital literacy classes, workforce training, access to a state-of-the-art ATM, and online banking and lending services provided by E*TRADE FINANCIAL.
About the National Capital Revitalization Corporation
The National Capital Revitalization Corporation (NCRC) is a publicly chartered, entrepreneurial corporation committed to revitalizing underserved neighborhoods throughout the District of Columbia through strategic business and real estate development initiatives and partnerships designed to enhance job creation, community amenities, and citizen empowerment.
About the Greater Anacostia Community
Ward 7 and Ward 8 are known to be the first suburbs in Washington, D.C, with a rich historical heritage as home to the abolitionist Frederick Douglas.  Due to a steep economic decline to the area during the 1960s through the early 1990s, Wards 7 and 8 have continuously been defined as the city’s poorest neighborhoods – with a population of 71,000, 92% African American.   Ward 7 and Ward 8 combined have the lowest median income, highest unemployment rate, highest number of fatherless families, lowest percentage of high school graduates and 25% subsidized housing.  However, recent advancements exemplify a drive toward community renewal that has come to the neighborhood, spurring the building of new housing, restoration of historic sites, and an appreciation of its heritage. Crime has been declining exponentially, middle class families are moving in, and a new sense of community pride is emerging.