Wednesday, November 01, 2006
Telecommunications
A five-year project spearheaded by former Treasury Secretary Robert Rubin plans to invest $1 billion to build rental homes with high-speed Internet access for roughly 100,000 people with low incomes.
Mr. Rubin is chairman of Local Initiatives Support Corp., a New York-based nonprofit group that helps provide capital and other resources to community groups. The nationwide project is aimed at helping people with low-incomes cross the digital divide by providing affordable housing with broadband, vouchers to buy computers, online training, and special community websites.
I think that what Mr.Rubin is doing is an extremely good idea and will definitely benefit for children from low income households.
I also think that it is definitely worth the investment and time to put all of this together.
In the article it states that the project which is called Access@Home, will be funded by grants, low-interest loans and equity investments from the National Equity Fund, a Chicago based unit of Local Support Initiatives that seeks to steer investment in tax credits for building low income housing toward the local developments and community groups that need funding. The technology and training will be provided by One Economy Corp, a non profit company based in Washington DC that focuses on extending the benefits of technology to people on the lower economic rungs. Other contributors to the program include Cisco Systems Inc and Deutsche Bank.
The housing will be available to families earning no more then 60% of the median income for their area.
Mr. Rubin is chairman of Local Initiatives Support Corp., a New York-based nonprofit group that helps provide capital and other resources to community groups. The nationwide project is aimed at helping people with low-incomes cross the digital divide by providing affordable housing with broadband, vouchers to buy computers, online training, and special community websites.
I think that what Mr.Rubin is doing is an extremely good idea and will definitely benefit for children from low income households.
I also think that it is definitely worth the investment and time to put all of this together.
Children from low income households often have Internet access only at school -- or not at all. That puts them at an academic disadvantage and can lead to setbacks later, since many jobs are now posted only online.
In the article it states that the project which is called Access@Home, will be funded by grants, low-interest loans and equity investments from the National Equity Fund, a Chicago based unit of Local Support Initiatives that seeks to steer investment in tax credits for building low income housing toward the local developments and community groups that need funding. The technology and training will be provided by One Economy Corp, a non profit company based in Washington DC that focuses on extending the benefits of technology to people on the lower economic rungs. Other contributors to the program include Cisco Systems Inc and Deutsche Bank.
The housing will be available to families earning no more then 60% of the median income for their area.
