Nehemiah Community Reinvestment Fund Announces Loan To Kenesset Israel Torah Center

Fire Bombed Sacramento Synagogue Receives $220,000 Loan To Complete Rebuilding

Sacramento, CA
August 30, 2005

Nehemiah Community Reinvestment Fund (NCRF), a nonprofit community development loan fund based in Sacramento, California, today announced the closing of its loan to Kenesset Israel Torah Center (KITC) to complete the construction of its new orthodox Jewish synagogue in Sacramento. The $220,000 five-year loan will cover the remaining costs of construction and provide short-term permanent financing for the 3,000 square foot facility located at 1165 Morse Avenue in Sacramento.

"NCRF is pleased to be able to provide the capital needed to complete the rebuilding of this important community facility," said Peggy Jones, Director of Nehemiah Community Reinvestment Fund. "Rebuilding this synagogue has truly been a community project. Its completion will restore an important thread to the religious and cultural fabric of Sacramento."

Kenesset Israel Torah Center was fire bombed in a vicious hate crime in June 1999. While three area synagogues were attacked, only KITC was completely destroyed. "So much hard work by volunteers has gone into this building project", declared Andrew Baron, President of Kenesset Israel Torah Center. "This crucial assistance from the Nehemiah Community Reinvestment Fund provides us with a vital boost to our efforts."

A check presentation ceremony will be held at the building site on Wednesday, August 31 at 5 pm. The public is invited to attend.

About Nehemiah Community Reinvestment Fund

Nehemiah Community Reinvestment Fund (NCRF) (www.ncrfund.org) is a nonprofit community development financial institution dedicated to providing capital and resources to revitalize low income and underserved communities. NCRF accomplishes this by leveraging investments in its revolving loan fund with its own capital to make below-market rate loans to community- and faith-based nonprofit and mission-based for profit organizations for affordable housing, community facilities and economic development. For more information, please visit www.ncrfund.org or call Peggy at 916-231-5226. NCRF is an affiliate of Nehemiah Corporation of America, a national faith-based nonprofit specializing in the provision of downpayment gift assistance for low-to-moderate income homebuyers

About Kenesset Israel Torah Center

Kenesset Israel Torah Center has been in Sacramento for 23-years. It is a member of the Union of Orthodox Jewish Congregations of America. Fundraising for the synagogoue is ongoing. To contact the synagogue with questions or to make a still much-needed donation (to help pay off this loan as well as for other parts of this project), write KITC at P.O. Box 255503, Sacramento, CA 95865, call 916-481-1159 or visit www.kitcsacramento.org .

For additional information, please contact:

Peggy Jones, Nehemiah Community Reinvestment Fund, pjones@nehemiahcorp.org, 916-231-5226

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