FOR IMMEDIATE RELEASE August 31, 2020
The Cleveland Park Business Association (CPBA) announced today that they are formally dissolving their organization, currently a 501(c)6 nonprofit corporation. Though the organization itself will no longer be in operation, much of the programming and activities of the Association will continue on through Cleveland Park Main Street (CPMS), a program of District Bridges founded in 2019. Additionally, as part of the dissolution of the organization, CPBA will establish a revolving loan fund for Cleveland Park businesses, ensuring a legacy of much-needed business support.
Since 2010, CPBA has served to unite Cleveland Park businesses in activities that improve the area for the betterment of all. Those activities included fostering an improved business climate, improving the appearance and ambiance of the area, combating crime and improving security, promoting the local businesses, and serving as a conduit with the District to improve and maintain strong communications and services.
“The board of CPBA is pleased to be able to turn the reins over to District Bridges. They have the time, talent, and resources to move Cleveland Park forward.”Susan Lihn, CPBA board member.
Most recently, this dedicated group of business owners and residents advocated for the creation of a designated DC Main Street program through the Department of Small and Local Business Development, knowing that this would bring dedicated funding and staff to implement programming that CPBA was currently performing with volunteers. The program became a reality in the fall of 2019 through a partnership with District Bridges, a neighborhood development organization operating the first multi-Main Street model in the country.
Now as the one year benchmark of CPMS draws near, CPBA is ready to officially hand over the reins. “The board of CPBA is pleased to be able to turn the reins over to District Bridges. They have the time, talent, and resources to move CP forward. We look forward to all their great work on behalf of our business community.” Susan Lihn, CPBA board member.
Though the organization will officially dissolve, they do so with an incredible legacy. Their last action will be the establishment of a $40,000 revolving loan fund for the businesses in ClevelandPark. Established through CPMS and District Bridges, this loan fund will be used to stimulate investments in a wide range of technical assistance in order to increase the capacity of small businesses.“We are forever indebted to CPBA members and volunteers for the time and energy they’ve invested in the corridor, ultimately laying the foundation for the creation of the Main Street,” Lihn said.