Mayor Adrian Fenty Celebrates Renovation of Ontario Court Apartments and Grand Opening...

Mayor Adrian Fenty Celebrates Renovation of Ontario Court Apartments and Grand
Opening of Jubilee JumpStart Child Care and Education Program in Adams Morgan

New Markets Tax Credit Program Preserves 27 Affordable Homes and Creates
Educational Opportunities for the Next Generation

COLUMBIA, Md., April 20 /PRNewswire/ --

WHO: District of Columbia Department of Housing and Community
Development (DHCD), Jubilee Housing, Jubilee JumpStart,
PNC Bank, Enterprise and local residents and their
children

WHAT: Grand opening and tours of the new Jubilee JumpStart Early
Childhood Development Center and 27 renovated affordable
homes for families

WHEN: Thursday, April 23, 2009; Tours begin at 3:30 p.m.;
Program starts at 4 p.m.

WHERE: 2525 Ontario Road, NW, Washington, DC, 20009; On-street
parking available on Ontario Road, NW, and Columbia Road,
NW

GUEST SPEAKERS: Adrian M. Fenty, mayor, District of Columbia
Jim Graham, Ward 1 council member, District of Columbia
Council
Donna J. Gambrell, director, U.S. Department of the
Treasury Community Development Financial Institutions
Fund
M. Craig Pascal, senior vice president, PNC
Jim Knight, president and executive director, Jubilee
Housing
Jessica Panfil, executive director, Jubilee JumpStart
David Bowers, local office director, Enterprise Community
Partners
Ontario Court Apartments residents

BACKGROUND:
Purchased by Jubilee Housing in 1980, the 29,700 square foot Ontario Court
apartment building was rehabilitated into 27 affordable homes for low- to
moderate-income families. In addition, the first floor has been converted into
a new 4,000 square foot child care and education facility operated by Jubilee
JumpStart, with the capacity to serve the needs of up to 50 six-week to
5-year-old children and their families. This $9 million redevelopment will
serve local families and children, offering educational activities and full
day, night or weekend care, as needed, to assist parents who are employed in
shift work. The Ontario Court building rehab is financed with $8.6 million in
New Markets Tax Credit enhanced loans from Enterprise, which leverage a $2.8
million New Markets Tax Credit enhanced investment from PNC New Markets
Investment Partners; a $2.9 million loan from PNC Bank; a $3.4 million loan
from the District of Columbia Department of Housing and Community
Development's Housing Production Trust Fund, and funding to Jubilee Housing
from other sources.

Enterprise is a leading provider of the development capital and expertise it
takes to create decent, affordable homes and rebuild communities. For 25
years, Enterprise has pioneered neighborhood solutions through public-private
partnerships with financial institutions, governments, community organizations
and others that share our vision. Enterprise has raised and invested $10
billion in equity, grants and loans to help build or preserve 250,000
affordable rental and for-sale homes to create vital communities. Enterprise
is currently investing in communities at a rate of $1 billion a year. Visit
www.enterprisecommunity.org and www.enterprisecommunity.com to learn more
about Enterprise's efforts to build communities and opportunity.

SOURCE Enterprise Community Investment, Inc.

Terri Bolling, Enterprise Community Investment, Inc., +1-410-772-2449; Kathy
Guillaume, Jubilee Housing, +1-202-299-1240, ext. 15; or Sonia McCormick, PNC
Bank, +1-202-835-5486