(NAPS)—Poppy DeMarco Den- nis expected to see rubble-strewn streets and run-downbuildings. And like anyone who has gone through South Central Los Angeles lately, she found something dramatically different from what she expected. “I see an inner city neighborhood transformed,” Den- nis says. “I’m amazed.” A San Diego delegate to the Democratic National Convention, Larry Parks of the FHLBSF Dennis was one of several dozen Mayors, Congresspersons, elected officials, and delegates touring the speaks to convention delegates examples of how public/private partnerships can makea differ- tution has been America’s consistent source of housing and eco- Their first stop, El Mercado La Paloma—a former warehouse being converted into a multi-vendor marketplace. “What you see hereis private enterprise and public funding ing make Jacqueline Salas’s area, seeing firsthand inspiring ence in a community. helping communities survive,” says Congressman andtour organizer Xavier Becerra. “Invest a little moneyandreal people benefit.” Sponsored by the Federal Home Loan Bankof San Francisco (the Bank) and the Local Initiative Support Conference (LISC), the tour showcased whatis possi- ble when public and private resources and dollars come together around economic development. The FHLBSFis a wholesale lending source for community lenders in California, Arizona, and Nevada and facilitator of pub- lic/private partnerships in housing and community development. LISC is a non-profit corporation and facilitator of public/private partnerships providing low interest loans, grants and technical assis- tance for economic developmentinitiatives that enable the non-profit grassroots work of neighborhood organizations called community development corporations (CDCs) to energize their communities. “We are the link between Wall Street and Main Street,” says andelected officials about community revitalization. nomic development financing in good economic times and bad.” FHLBSF’s investment is help- American dream come true. Once completed, the Mercado will house her family’s new bakery along with dozens more shops and boutiques. “I never thought it would be possible,” says Salas. “If not for LISC and the Bank, we wouldstill be working for someone else instead of someday owning our own business.” Senator Paul S. Sarbanes, ranking Democrat on the Banking, Housing, and Urban Affairs Committee, remarked, “You have included (innercity res- idents) into the mainstream. They feel like they have a piece of the action and they take more respon- sibility for where theylive.” Other revitalized sites on the tour included the Pueblo Nuevo Charter School—an abandoned commercial building converted into an elementary charter school —and The Historic Dunbar Hotel containing 73 single resident occu- pancy (SRO) units, commercial space and room for a museum. The tourleft a lasting impression on Poppy DeMarco Dennis. “Tm starting to realize investing Lawrence Parks, Senior Vice Pres- in communities like South Central works,” says Dennis. “Once the convention is over, I intend to Bank of San Francisco. “Ourinsti- areas in San Diego.” ident for Federal Home Loan bring back ideas to help revitalize
