Neighborhood Economic Development Corporation

Programs: Opportunityworks - this department houses nedco's personal asset building programs and its foreclosure intervention program. Nedco has operated the pre-purchase homeownership program since 1994. Nedco classes on homeownership include a one day, eight hour class that covers basic home buying topics taking the buyer from finding a home to purchase, escrow, insurance, and basic home maintenance. Also offered is a series of classes lasting eight weeks which cover topics including financial stability, budgeting and credit, savings and debt, credit insurance, and mortgages. Two other classes offered help people in financial crisis. These classes cover basic financial management, savings, debt, and credit rebuilding. See schedule o. For the last six years, nedco has offered foreclosure intervention services to homeowners who were at risk of, or in the process of foreclosure. Nedco operates a state sponsored program which provides advocacy to homeowners going through foreclosure. In the opportunityworks program each year, nedco helps more than 2,500 people learn to manage their finances, purchase their first home, or navigate the foreclosure process with as much of their dignity and personal wealth intact as possible. Nedco is a hud-approved housing counseling agency and a state-designated regional housing center in lane, marion and clackamas counties. In addition, nedco provides access to a variety of financial resources, such as individual development accounts (ida's) for the purpose of purchasing a home, pursuing postsecondary education, technical assistance, or starting or growing a microenterprise (a business with five or fewer employees); and down payment assistance to clients who are low-income who are ready to purchase their first home.

localworks - this department conducts community economic development and community food systems programs. Additionally, this department houses the business incubator program, which provides services for fledgling and existing micro entrepreneurs, most of whom are low-income. Localworks is also home to the springfield farmers' market, a market located in downtown springfield and entering its seventh year of operation. The market provides equitable access to healthy, local food for people of all incomes; generates economic participation in revitalization in downtown springfield. See schedule o. Also part of this program is a commercial kitchen that is affordably rented by the hour for small food-based businesses and provides restaurant space for those businesses working with the business incubator program to establish a viable food business.

buildingworks - this department conducts real estate development operations and houses the property management division. Nedco has more than 35 years of experience developing affordable housing. Nedco has more than 23 affordable rental units in lane county, and has developed and sold more than 100 homes for low and moderate income first time homeowners. In april, 2015, nedco purchased a 12-unit apartment complex in the whitaker neighborhood. The complex houses young adults who have aged out of foster care, providing safe, stable housing while they finish school, go to college, find jobs, and become independent adults. Nedco is partnering closely with a local non-profit that provides life skills coaching for youth living in apartments. See schedule o. The property management department also oversees nedco's commercial holdings.