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THE BUZZ IS GROWING: HORNETS JOIN NBA/FANNIE MAE PROGRAM
Published October 7, 1994
The Hornets are the latest team to join the NBA's partnership with Fannie Mae, the Federal Home Mortgage Association. As reported in THE SPORTS BUSINESS DAILY, several NBA teams have joined the campaign to revitalize city neighborhoods and promote low- and moderate-income home ownership for families and minorities. The Fannie Mae Foundation announced a $75,000 grant to renovate two houses in one of Charlotte's "most drug-infested" neighborhoods. Hornets President Spencer Stolpen said the program "allows the Hornets to expand and broaden our contributions to the community that provides us with so much support." The Hornets will raise money to participate in an education campaign and housing renovation (CHARLOTTE OBSERVER, 10/6).