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Neighborhood Reinvestment Corporation

In 1978, Congress institutionalized the NHS network by establishing the Neighborhood Reinvestment Corporation to carry on the work of the Urban Reinvestment Task Force. [In April 2005, the Corporation began doing business as NeighborWorks America.] The Congressional act (Public Law 95-557) charged Neighborhood Reinvestment with promoting reinvestment in older neighborhoods by local financial institutions in cooperation with the community, residents and local governments. Bill Whiteside was named executive director. The act defined Neighborhood Reinvestment's mission as "revitalizing older urban neighborhoods by mobilizing public, private and community resources at the neighborhood level."