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Article: Its Charitable Plans Are Laudable, But Fannie Mae Owes the City More
- Article from:
- The Washington Post
- Article date:
- January 4, 1996
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Fannie Mae's plan to contribute $50 million to $70 million a
year to its charitable foundation will no doubt benefit a great
number of people throughout the country.
In the District, for example, the increase should give a boost
to community-based organizations that provide low- and
moderate-income housing in inner-city neighborhoods and services to
the homeless. The foundation allows Fannie Mae to make contributions
to housing-related initiatives where conventional financing might
not be readily available.
Even if Fannie Mae's support of community-based housing
initiatives in the District does rise above the $3.2 million donated
last year, its contributions should not be regarded ...