'the Nutcracker' Dancing Into Wilkes University

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Claim For Compensation, Says Suit.

By RENITA FENNICK rfennick@leader.net
 Wednesday, November 16, 2005 &nbsp;&nbsp;&nbsp;&nbsp;Page: 1C 





WILKES-BARRE - Mayor Tom Leighton has been rounding up his posse of
believers since making his highly publicized "I Believe" speech in June. &nbsp;&nbsp;&nbsp; 
 On Tuesday, Citizens Bank made the leap of faith and backed it up with a
$27 million, three-year financial commitment aimed at revitalizing
neighborhoods in the city and surrounding communities. &nbsp;&nbsp;&nbsp; The Citizens Bank Neighborhood Investment Program Community Initiative will
provide below-market loans for small business, home buyers and homeowners. It
is similar to programs established by Citizens in Philadelphia and Pittsburgh. &nbsp;&nbsp;&nbsp; 
 The largest chunk of the package, $15 million, will be available for small
business loans while $9 million is allocated for residential mortgage loans.
The remaining $3 million is dedicated to home improvement loans. &nbsp;&nbsp;&nbsp; 
 Applications will be accepted by Citizens Bank which will administer all of
the funding. &nbsp;&nbsp;&nbsp; 
 Though the money is not dedicated solely to Wilkes-Barre, a ceremonial
check was presented to Leighton at a late-morning press conference at the
Genetti Hotel &amp; Convention Center. &nbsp;&nbsp;&nbsp; 
 The mayor likened the loan program to taking small steps toward achieving a
big goal. &nbsp;&nbsp;&nbsp; 
 "If people take the initiative to buy homes or to beautify their
properties, then the city will be beautified," he said. &nbsp;&nbsp;&nbsp; 
 An additional $200,000 is earmarked for five local organizations including
the Commission on Economic Opportunity, Diamond City Partnership, Joint Urban
Studies Center, Penn's Northeast and the Small Business Development Center at
Wilkes University. &nbsp;&nbsp;&nbsp; 
 The program is targeted at low- and moderate-income census tracts in
Northeastern Pennsylvania, according to Tom Black, the bank's senior vice
president and regional manager. The program is the result of a yearlong study
by a task force comprised of bank officials, community groups and government
organizations in Luzerne, Pike and Monroe counties. &nbsp;&nbsp;&nbsp; 
 The bank's other neighborhood programs include the five-year, $250 million
Neighborhood Transformation Initiative in Philadelphia. &nbsp;&nbsp;&nbsp; 
 "These programs have been very successful," said Bill Smith, Citizens
senior vice president and regional manager for community investment. "When we
see opportunities to serve the needs of the communities we serve, we do. But,
the first step is understanding those needs and to do this, we engaged the
help of some community organizations." &nbsp;&nbsp;&nbsp; 
 The task force concluded that housing, financing and small business job
creation were top priorities in the region, Smith said. &nbsp;&nbsp;&nbsp; 
 Citizens Bank is the lead lender in the $9 million downtown theater project
and has made an investment in the Hotel Sterling renovation program. &nbsp;&nbsp;&nbsp; 
 Leighton said the Citizens Bank program will help the city administration
carry out part of its "I Believe" campaign. &nbsp;&nbsp;&nbsp; 
 "This will assist us in helping working class families and bringing
business to Wilkes-Barre," he said. "It's a positive step toward the
revitalization of Wilkes-Barre; not just new people but those who are already
here." &nbsp;&nbsp;&nbsp; 
 Applications for any of the programs are available at all Citizens Bank
branches. The Web site is www.citizensbank.com &nbsp;&nbsp;&nbsp;

W-b Mayor Banking On Good Citizens/ Bank With Local Branches Provides $27 Million In Below-market Loans To Help Revitalize Neighborhoods.