Page 11 - Florida Sentinel 12-2-16 Online Edition

Local
Local FAMUAN Lauded For Support
ATTY. THEODORE (TED) TAYLOR
On Friday evening, November 18, 2016, during the Florida Classic weekend events, Theodore N. Taylor, was recognized with the National Rattler F Club Distinguished Award of Excel- lence.
The F Club includes former Florida A & M University (FAMU) athletes, alumni and supporters whose goal is to raise funds to support athletic programs at FAMU and provide scholarships to athletes.
Taylor is a lawyer in Plant City, and a 1975 FAMU graduate, who has been a Rattler supporter since graduation.
In his acceptance remarks, he spoke of the family FAMU legacy dating back to 1946 with his parents, Theodore D. Tay- lor and Claranelle Adams. He brought the legacy forward to his youngest son, Wesley B. Taylor, a decorated kicker for FAMU 2004 – 2007, who has received a bachelor’s, master’s and law degree from FAMU.
National
Fifth Third Partnership Creates Landmark $30 Billion Community Development Plan
CINCINNATI --- Last week, Fifth Third Bancorp and the National Community Rein- vestment Coalition (NCRC) signed a landmark $30 billion community development plan through 2020. The plan builds on the $27.5 billion commu- nity commitment that Fifth Third announced in February 2016, and is the largest by a single bank in recent history.
The plan covers the 10 states in which Fifth Third has branches and follows weeks of discussions and six meetings between Fifth Third and com- munity groups working with NCRC in Chicago, Charlotte, Cincinnati, Cleveland, Tampa Bay, and Washington, D.C. All told, Fifth Third met with more than 200 community- based organizations.
The plan calls for Fifth Third to invest $30 billion in its communities over a five- year period, which began Jan- uary 1, 2016. Lending and investments of $30 billion cov- ered under this agreement in- clude the following categories: mortgage lending, small busi- ness lending, including micro- lending; and community development lending and in- vesting.
The agreement also covers $158.4 million in community initiatives, including financial
services, branch openings, marketing and research, prod- uct development and coopera- tive public policy advocacy for low- and moderate-income (LMI) communities. Mortgage Lending:
$11 Billion
Fifth Third increased its overall goal for mortgage lend- ing to LMI borrowers and cen- sus tracts, and added a home purchase sub-goal.
Small Business Lending: $10 Billion
Fifth Third is committed to improving its lending to small businesses with gross annual revenue below a million in all markets and communities. The commitment includes in- creased support for small busi- nesses, product innovation, and enhanced underwriting and fulfillment.
Community Reinvestment Act (CRA) Community Development Lending: $9 Billion
Fifth Third will strive to achieve peer-leading perform- ance in the amount of com- bined community develop- ment loans and investments (CDLI) over the course of the five-year commitment.
The Fifth Third Commu- nity Development Corporation will also make $1 billion in tax credit investments.
Fifth Third Impact Programming: $158.4 Million
Fifth Third will make hous- ing-related investments that address the gap for consumers who need down payment as- sistance to achieve homeown- ership, support housing counseling and financial liter- acy to help families and indi- viduals achieve their long-term financial goals, and help fund housing loan pools for minor home repairs or gap financing to support neighborhood revi- talization.
Fifth Third Bank will also make small business-related investments that provide tech- nical assistance for small busi- ness development and growth.
Charitable giving will in- clude a focus on providing or- ganizations with resources for capacity building, workforce training, and assistance for older adults.
The Fifth Third Impact programming includes branch and staff commitments. Fifth Third will seek to open at least 10 more branches in LMI and/or high minority commu- nities.
The Bank will increase its efforts to support diverse sup- pliers, minority-owned, women-owned and veteran- owned businesses.
FRIDAY, DECEMBER 2, 2016 FLORIDA SENTINEL BULLETIN PUBLISHED EVERY TUESDAY AND FRIDAY PAGE 11-A