The story of the Crenshaw corridor has continued to evolve over several decades.
The challenges of implementing a thoughtful community collaboration that recognizes the need for sustainable and inclusive economic development continues to be elusive.
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In the early years of my banking career, I supervised banking office along the Crenshaw corridor and after a decade departed the banking industry to pursue a more solution driven financial mission. This focus on mission lead me to Mayor Richard Riordan’s LA Business Team and the challenge to reboot Mayor Tom Bradley’s Los Angeles LDC. Since 1995, the impact of this mission has been demonstrated by injecting $50,000,000 of capital into the Crenshaw corridor with wide variety of economic development projects and capital sources.
Now, I am focused on my final contributions to the beloved Crenshaw corridor. The credit skills that I learned at Security Pacific National Bank have laid the foundation to build out my vision for a Crenshaw Corridor Capital Collaborative (C4).
My outreach to the 8 banks and 1 credit union, which hold over $1.7 Billion of FDIC deposits, which are located on the Crenshaw corridor - From Adams Boulevard to Slauson Avenue. It’s my goal to have these financial institutions engage in actionable discussion to engage with $10 Billion Department of Treasury’s State Small Business Credit Initiative (2.0). The California allocation of SSBCI 2.0 is $1.2 Billion and readily available to support up to $10 Billion in our State; furthermore, 5 of the 8 banks provide banking services to the State of California and many other public agencies and municipal authorities that have a vested interest in the economic development outcomes along the Crenshaw corridor.
#MakeADealMakeADifference
Tech 2 (SWAT) at Comcast
2moCongrats!!!