Foundation to Aid Gulf Recovery

The Calvert Foundation, Bethesda, Md., has announced that it will direct Calvert Community Investment notes to help rebuild communities in the Gulf Coast region devastated by hurricanes Katrina and Rita.The capital raised through the notes will be used to assist with the redevelopment of affordable homes and the financing of community facilities. The foundation said its investment dollars will be placed with a broad range of private and public efforts in the Gulf Coast region, such as the Hope Community Development Credit Union in New Orleans and the Southern Mutual Help Association, which serves rural Louisiana. "We want to support local organizations -- accountable to the communities they serve -- to foster long-term revitalization and more equitable development," said foundation director Shari Berenbach. For more information about CCI notes, go to http://www.calvertfoundation.org.