December 28, 2011

Oregon Coast Community Action

Coos Bay, Oregon

Oregon Coast Community Action

A Craft3 loan helped finance the construction of a new Child and Family Resource Center, a key resource for the families who receive emergency services from nonprofit Oregon Coast Community Action.
Oregon Coast Community Action (ORCCA) is a non-profit organization that feeds, houses, warms and educates low-income families in Coos, Curry and Western Douglas Counties.

The economic recession hit the region hard, particularily low-income families with children. In response, ORCAA expanded services along the South Oregon Coast by building a community campus, including a 30,000 sq ft Child and Family Resource Center Building. This facility houses almost half of the children and their families that Head Start serves. It provides an anchor to the 15,000 people who receive emergency services through ORCCA each year.
 
When ORCCA needed financing to build this facility, they came to Craft3. Craft3 utilized the federal New Markets Tax Credit program to invest $4.6 million in ORCCA. Our investment in Oregon Coast Community Action strengthens economic and family resilience by supporting economic growth and opportunity, and strengthening access to essential services. Capital for this investment was provided by Wells Fargo.

Oregon Coast Community Action used Craft3 financing to create positive impacts in its community. This nonprofit is in a high poverty area. It leveraged $7.5 million in additional funds and equity, created or retained 39 jobs and assisted 4,628 low-income families. It projects 14,808 community service slots. Learn more at www.orcca.us.