Local groups awarded stimulus money

May 27, 2009 3:18:59 PM PDT
Two Bay Area non-profit groups were awarded millions in stimulus money Wednesday.

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The Oakland-based California Urban Investment Fund will get $20 million and the Opportunity Fund of San Jose will get $35 million.

The money will help pay for projects like a Native American health center in Oakland.

The non-profit groups provide low-interest financing to private investors, for projects in distressed communities.

The opportunity fund says it has three or four projects that are shovel-ready.

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