COMMUNITY LENDERS COMMUNITY DEVELOPMENT CORPORATION NAMES NEW EXECUTIVE DIRECTOR

Nonprofit multi-bank consortium dedicated to affordable housing and community development has new leadership.

(SOUDERTON, PENNSYLVANIA, April 2003) Kate Meadows is the new Executive Director for the Community Lenders Community Development Corporation (CLCDC). The nonprofit is a thirteen member bank consortium, which supports affordable housing and community development. She was appointed to this position by the Board of Directors.

Meadows previously served as Deputy Director for Montgomery County Department of Housing and Community Development, where she assisted in the creation of the Countys successful First Time Homebuyers Program. This program has since provided approximately 264 low to moderate income individuals and families with a home to call their own. She was also instrumental in utilizing the Countys Affordable Trust Fund, funding numerous affordable housing projects.

Additional affordable housing experience was gathered as Regional Coordinator for the former federal government agency, the Resolution Trust Corporation, which closed in 1995. There, Meadows was responsible for a seller financing program created to help reduce the agencys real estate portfolio assumed from closing failed savings and loans.

Meadows left the financing world briefly to become owner of a small business. The marketing and organizational skills she learned running a service-oriented corporation will be beneficial to the CLCDC.

The CLCDC was formed in 1999 as a nonprofit 501(c)(3) multi-bank community development corporation. Its mission is to promote and facilitate community revitalization through the financing of, and investment in, housing and community development activities, which address the needs of low and moderate income persons and areas throughout Bucks, Chester, Delaware and Montgomery counties, with specific emphasis on those communities where member banks are located.