The Federal Reserve Bank of St. Louis has hired Tiffany Guynes as a community affairs specialist assigned to the Little Rock Branch. She will assist in the Fed's efforts to provide banks with information on programs to meet community development needs and facilitate communication among local governments, community organizations, neighborhood groups and financial institutions. Previously, Guynes was the marketing coordinator for the Arkansas branch of a multistate engineering firm, where her responsibilities included grant writing, business development, development of a marketing plan and client outreach and support. She also spent three years as assistant director of the Arkansas Office of Rural Advocacy and one year working for the Arkansas House of Representatives as the assistant information officer. Guynes can be reached at (501) 324-8240.
In May, Fannie Mae announced the selection of Tennessee as its newest Partnership Office. The statewide office will be located in Nashville.
Partnership Offices enable Fannie Mae to establish an "on-the-ground" presence in major communities across the country. The Tennessee Partnership Office will work with state and local municipalities in the development of affordable housing by enhancing Fannie Mae's capacity to deliver mortgage products and services to Tennesseans. For more information, call 1-800-7FANNIE.
Although it has nothing to do with picking the right numbers, some low-income Kentucky residents will benefit from the Kentucky Lottery. Their good fortune is the result of legislation passed last year that allotted unclaimed Kentucky lottery prize money during fiscal year 1999 to the Affordable Housing Trust Fund (AHTF). The trust fund, which provides housing assistance to those who qualify, is receiving $2.3 million from a total of $8.3 million unclaimed winnings from the first six months of the current fiscal year. It is likely that more will follow from the second half of this year.
The AHTF serves individuals and families who are below 60 percent of the statewide median income and who have critical housing needs. The AHTF also gives priority to proposals designed to assist those below 30 percent. Unlike other funding sources that have restrictions, AHTF funds can be used by agencies for any cost associated with housing development for low-income Kentuckians. For more information, call Kentucky Housing Corporation at (502) 564-7630.
The Small Business Administration (SBA) recently opened its "One Stop Capital Shop" in St. Louis' Empowerment Zone, an economically depressed urban area. Under the program, the SBA will guarantee loans, provide entrepreneurial training and help establish or expand women- and minority-owned businesses in the zone. The shop will also hold weekly workshops on SBA loans and other services offered.
One of the largest of the 10 shops across the nation, the St. Louis office has five staff members, including a loan officer, procurement assistant specialist, economic development specialist, business information manager and a director. Two retired executives from SCORE will also serve as part-time advisors.
In addition, Rural Missouri Inc. the SBA's micro-lender for St. Louis, will be at the shop two days a week making micro-loans of $500 to $25,000. Maureen Brinkley, the shop's director, expects that 80 to 100 micro-loans will be made in the first year. More traditional SBA loans will also be made. For more information, call (314) 539-6600.
Keep up with what’s new and noteworthy at the St. Louis Fed. Sign up now to have this free monthly e-newsletter emailed to you.
Fed in Print: An index of the economic research conducted by the Fed.