nl119 at columbia.edu
03-21-2000, 07:23 PM
Hello -
A few weeks ago I posted a note to this list asking for information and
ideas on community development financial intermediaries that could fund
large urban economic development projects. I received a lot of great
responses from people all over the country, and have listed below some of
the potential sources of below-market rate capital that people suggested
to me and some of the groups that people suggested I look at and/or
contact. If anyone would like any more information about the
organizations listed below please feel free to email me at
NL119@columbia.edu and I will put you in touch with the people who sent
the original emails. I am also attaching the original posting I made to
this list, which describes the project I am working on. I would still be
very eager to hear any ideas anyone might have on this topic, and would be
happy to go into greater depth on what our project is trying to
accomplish.
And thanks again to everybody who responded for all of the great
information.
Noah Leff
===============================
Noah Leff
Project Coordinator
Center for Urban Research and Policy
Columbia University
phone: (212) 665 4827 email: NL119@columbia.edu
POTENTIAL SOURCES OF BELOW MARKET RATE PRIVATE CAPITAL
Pension Funds (especially public pension funds and funds like
TIAA-CREF)
Insurance Industry Funds
Socially Responsible Investment Funds
Religious Endowments
University Endowments
Foundations
Public Sector
ORGANIZATIONS
Existing Intermediaries
Boston Community Capital
Cleveland Development Partnership
Strategic Investment Fund (Pittsburgh)
Ohio Community Development Finance Fund
Pelham Fund for Economic Justice (Boston area)
Industrial Areas Fund (Boston area)
Massachusetts Housing Investment Corporation
Nebraska Microenterprise Partnership Fund
Oklahoma Metafund CDC ("Metafund")
Community Capital Investment Initiative (California)
Developers
The Schnitzer Investment Corp.
The Community Builders
Columbus Urban Growth Corporation
Faith Based Organizations
Trinity Church (New York)
Cooperative Metropolitan Ministries
Greater Boston Interfaith Organization
Massachusetts Insurance Industry Funds
The Life Initiative
The Property and Casualty Initiative
Trade Associations
Indiana Association for Economic Development
Massachusetts Association of Community Development Corporations
SRI fund Community Investment
Calvert Social Investment Foundation
Domini's Money Market Account
> -----Original Message-----
>
>
> Fellow CDB List Subscribers,
>
> I recently posted a request on this list for information on community
> banking and information technology and was overwhelmed with the amount of
> useful information I received from subscribers. So I've decided to post a
> note regarding another project I am working on to see if anyone else is
> working on the same kind of thing, or if anybody has any suggestions or
> insights.
>
> I am working with a group of graduate students at Columbia University to
> help a large foundation in the Boston area develop models for a financial
> intermediary that could aggregate funding to finance major urban economic
> development projects. The general mission of this intermediary would be
> to combat urban sprawl by financing redevelopment projects in inner cities
> to make them more livable. An indispensable qualification to these
> projects is that they would have to proceed with a high degree of local
> control, and could be undertaken only if they would not lead to the
displacement of people and neighborhoods. The first beneficiaries of
this kind of redevelopment should be the people already living in inner
cities.
>
> The specific part of this effort that we are working on is trying to
> structure the financial component of such a model. We are pretty well
> versed in most of the public funding available for urban redevelopment
> projects, and have some idea of how market-rate private capital might be
> incorporated. Where we could use the most help is in identifying sources
> of capital that would accept below-market rate returns on community
> investment projects. We would also appreciate any insights into how
> different models for such an intermediary might be structured (i.e.:
> different combinations of debt and equity, methods for leveraging private
> financing, staff and board size and composition, etc.).
>
> Any suggestions, ideas, comments, questions would be greatly appreciated.
> As with my previous query to this list, I will be happy to summarize and
> post people's responses to this listserv.
>
> Thank you,
> Noah Leff
> ================================================
> Noah Leff
> Project Coordinator
> Center for Urban Research and Policy
> Columbia University
> phone: 212 665 4827 email: NL119@columbia.edu
This post transferred from the cdb-l mailing list
A few weeks ago I posted a note to this list asking for information and
ideas on community development financial intermediaries that could fund
large urban economic development projects. I received a lot of great
responses from people all over the country, and have listed below some of
the potential sources of below-market rate capital that people suggested
to me and some of the groups that people suggested I look at and/or
contact. If anyone would like any more information about the
organizations listed below please feel free to email me at
NL119@columbia.edu and I will put you in touch with the people who sent
the original emails. I am also attaching the original posting I made to
this list, which describes the project I am working on. I would still be
very eager to hear any ideas anyone might have on this topic, and would be
happy to go into greater depth on what our project is trying to
accomplish.
And thanks again to everybody who responded for all of the great
information.
Noah Leff
===============================
Noah Leff
Project Coordinator
Center for Urban Research and Policy
Columbia University
phone: (212) 665 4827 email: NL119@columbia.edu
POTENTIAL SOURCES OF BELOW MARKET RATE PRIVATE CAPITAL
Pension Funds (especially public pension funds and funds like
TIAA-CREF)
Insurance Industry Funds
Socially Responsible Investment Funds
Religious Endowments
University Endowments
Foundations
Public Sector
ORGANIZATIONS
Existing Intermediaries
Boston Community Capital
Cleveland Development Partnership
Strategic Investment Fund (Pittsburgh)
Ohio Community Development Finance Fund
Pelham Fund for Economic Justice (Boston area)
Industrial Areas Fund (Boston area)
Massachusetts Housing Investment Corporation
Nebraska Microenterprise Partnership Fund
Oklahoma Metafund CDC ("Metafund")
Community Capital Investment Initiative (California)
Developers
The Schnitzer Investment Corp.
The Community Builders
Columbus Urban Growth Corporation
Faith Based Organizations
Trinity Church (New York)
Cooperative Metropolitan Ministries
Greater Boston Interfaith Organization
Massachusetts Insurance Industry Funds
The Life Initiative
The Property and Casualty Initiative
Trade Associations
Indiana Association for Economic Development
Massachusetts Association of Community Development Corporations
SRI fund Community Investment
Calvert Social Investment Foundation
Domini's Money Market Account
> -----Original Message-----
>
>
> Fellow CDB List Subscribers,
>
> I recently posted a request on this list for information on community
> banking and information technology and was overwhelmed with the amount of
> useful information I received from subscribers. So I've decided to post a
> note regarding another project I am working on to see if anyone else is
> working on the same kind of thing, or if anybody has any suggestions or
> insights.
>
> I am working with a group of graduate students at Columbia University to
> help a large foundation in the Boston area develop models for a financial
> intermediary that could aggregate funding to finance major urban economic
> development projects. The general mission of this intermediary would be
> to combat urban sprawl by financing redevelopment projects in inner cities
> to make them more livable. An indispensable qualification to these
> projects is that they would have to proceed with a high degree of local
> control, and could be undertaken only if they would not lead to the
displacement of people and neighborhoods. The first beneficiaries of
this kind of redevelopment should be the people already living in inner
cities.
>
> The specific part of this effort that we are working on is trying to
> structure the financial component of such a model. We are pretty well
> versed in most of the public funding available for urban redevelopment
> projects, and have some idea of how market-rate private capital might be
> incorporated. Where we could use the most help is in identifying sources
> of capital that would accept below-market rate returns on community
> investment projects. We would also appreciate any insights into how
> different models for such an intermediary might be structured (i.e.:
> different combinations of debt and equity, methods for leveraging private
> financing, staff and board size and composition, etc.).
>
> Any suggestions, ideas, comments, questions would be greatly appreciated.
> As with my previous query to this list, I will be happy to summarize and
> post people's responses to this listserv.
>
> Thank you,
> Noah Leff
> ================================================
> Noah Leff
> Project Coordinator
> Center for Urban Research and Policy
> Columbia University
> phone: 212 665 4827 email: NL119@columbia.edu
This post transferred from the cdb-l mailing list