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THE WHITE HOUSE

Office of the Vice President

For Immediate Release June 18, 1997

STATEMENT BY THE VICE PRESIDENT

I applaud today's announcement by the National Community Development Initiative that it will provide $97 million for community development to 23 cities across the country. This Initiative -- a unique partnership among the Clinton Administration, major corporations, and foundations -- is a shining example of how partners can help bring about change in our local communities.

The $97 million will vastly improve the ability of Community Development Corporations in these cities to build housing and spur economic revitalization efforts from the ground up. Such community-based organizations play an instrumental role in helping to revitalize our poorest neighborhoods.

In creating jobs, housing, and business opportunities, the Initiative complements the Administration's Community Empowerment Agenda -- a multi-faceted effort that includes Empowerment Zones and other programs to provide more opportunities in our communities for those who need them most.

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