Pittsburgh, PA-The Northside Leadership Conference (NSLC) leveraged $300,000 of the financial commitment from Rivers Casino to Northside neighborhoods into a $600,000 matching federal grant to support Northside businesses through NSLC’s subsidiary, the Northside Community Development Fund (NSCDF).

NSCDF received notice from the US Department of Treasury of a $600,000 Financial Award Grant from the US Dept. of Treasury’s CDFI Fund and was in elite company. Nationwide, more than 180 organizations applied for a total of $250 million. Only 59 of these organizations received awards that totaled $90 million. NSCDF leveraged this grant with $300,000 in funds that will be coming from the Rivers Casino.

“This is very exciting news. We were able to leverage the Casino commitment, in effect tripling our money,” said Mark Fatla, Executive Director of the NSLC, NSCDF’s parent organization. The Conference has a memorandum of understanding with River’s Casino to provide $1 million per year for neighborhood housing and commercial districts on the Northside.

“”The Rivers Casino has worked closely with the NSLC for many months regarding both employment and Vendor opportunities. We are appreciative of the close working relationship we have developed with NSLC, and we are pleased to see that our contribution of $300,000 is already reaping some intended benefits,” said Ed Fasulo, President and Chief Operating Officer of Rivers Casino.” We intend to be good neighbors and to be strong partners with the community in the coming years,” he said.

NSCDF finances small businesses on the Northside such as retail shops in neighborhood business districts (Bistro To Go, Rita’s Italian Ice), builders and manufacturing firms (J Francis Company, Team Laminates) and technology firms (Bookminders, Imbue Tech) among others.

“We are thrilled to be recognized as a leader in our field,” said Mark P. Masterson, Executive Director of NSCDF. “All of these funds will go into low-cost loans and investments in small businesses here on the Northside. The best source of hope in a neighborhood is a decent job. By supporting and investing in Northside businesses, we can help entrepreneurs and grow living wage jobs for Northside residents,” he said.

Since 2000, the Northside Community Development Fund has financed more than 90 Northside businesses and 6 strategic real estate projects through low interest financing and technical assistance. The Fund has grown its loan capital base from $2 million in 2006 to more than $6 million in 2009. The Northside Fund also capitalized a micro-enterprise venture capital fund to help Northside start-up companies. Businesses and projects receiving financing from the Fund have created more than 580 jobs on the Northside of Pittsburgh. Approximately 56% of borrowers since 2007 are women and 44% are minorities.