Commercial Bank & Trust Picked For Governor's Panel

Memphis, TN - Adele Landers of Commercial Bank and Trust was asked to be a panelist during the 2007 Governor’s Housing Summit in Nashville, TN this fall by Governor Phil Bredesen.

The purpose of the summit was to shine the spotlight on Tennessee’s progress while exposing the continuing need for workforce housing. Speakers and attendees shared what works with the goal of repeating successes in additional areas of the state.

Adele Landers sat on the panel, “Inviting Lender’s to Use the CITC to Invest in Your Non-Profit.” Other panelist include Steve Lockwood with Frayser Development Corporation and Paul Landers with West TN Family Solutions.

The panel discussed the program, Community Investment Tax Credit. It is a program offered by THDA (Tennessee Housing Development Agency) to financial Institutions that lend to entities engaged in low-income housing activities. This program helps make lower interest loans to non-profits with Internal Revenue Code 501(C)(3) status who provide housing opportunities for low-income Tennesseans.

“The challenge for our state is that this program is underused and many financial institutions are unaware of its existence,” says Adele Landers, loan officer at Commercial Bank and Trust. “We hope that this panel raises awareness of the CITC program allowing more non-profits to benefit from the program.”

Fellow panelist Steve Lockwood of the Frayser Community Development Corporation brought the CITC program to the attention of Adele Landers while trying to secure better interest rates for Frayser’s CDC. Frayser CDC works to provide affordable housing, community service projects, safety, crime prevention, and business & economic development opportunities to the Frayser area in Memphis.

“His unique approach and diligence makes the Frayser CDC one of the strongest models,” remarks Landers of CB&T. “We are proud to be a partner working with the Frayser CDC through the CITC program allowing them to improve the quality of life in the Frayser area through housing, education and economic development.


For more information on the 2007 Governor’s Housing Summit or the CITC program, please visit thda.org or for more information on Commercial Bank and Trust, please visit cbtcnet.com.