Community Economic Devlelopment Invenstment Funds

[cafuller at auracom.com]

Hello: I'm new to the list and am doing a major research paper on a model of
Community Economic DevelopmentInvestment Funds currently underway and
supported (with tax credits) by the provincial government in Nova Scotia,
Canada. I was wondering if anyone out there has information on
1) potential factors of success for small scale, local, community based
investment funds,
2) the role of financial institutions (Credti Unions in particular) in the
success of community investment funds,
3) pointers on what to analyze in a case study application.
4) or just supportive comments....

I am currently a senior student in the MBA in Community Economic Development
program at University College of Cape Breton, in Sydney, Nova Scotia.

Cheers,
CA Fuller



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[kmay at igc.org]

a couple of suggestions:
1-all of the LSIF's (Labor Sponsored Investment Funds) in Canada present
an interesting body of experience. I would specifically look at the
Solidarity Fund in Quebec, and the Crocus Fund in Manitoba. Both have
interesting regional, community-based and criteria-based structures.
2-talk to CDVCA--the Community Development Venture Capital
Association--based in New York. The regional "developmental venture
capital" funds that my organization (the Council for Hometown Jobs and
Growth / Wilhelm & Conlon Public Strategies) creates fall into this
category. CDVCA will probably refer you to Julia Rubin, a PhD at
Harvard who is completing a huge research project on this emerging
field.
3-check out the US Treasury CDFI (Community Development Financial
Institution) Fund website. Certified institutions include credit unions
as well as revolving loan funds, and more recently, developmental
venture capital funds.

Speaking personally, community credit unions are great institutions, but
do not have the asset-base to be target investors in our community
development venture funds, since our SEC regulations only permit
"sophisticated investors" to invest in "risky" ventures of this type.
But, they are great local partners to work with, and are important
sources of "deal flow" and community oversight.

Good luck!
Karen

Catherine Ann Fuller wrote:
>
> Hello: I'm new to the list and am doing a major research paper on a model of
> Community Economic DevelopmentInvestment Funds currently underway and
> supported (with tax credits) by the provincial government in Nova Scotia,
> Canada. I was wondering if anyone out there has information on
> 1) potential factors of success for small scale, local, community based
> investment funds,
> 2) the role of financial institutions (Credti Unions in particular) in the
> success of community investment funds,
> 3) pointers on what to analyze in a case study application.
> 4) or just supportive comments....
>
> I am currently a senior student in the MBA in Community Economic Development
> program at University College of Cape Breton, in Sydney, Nova Scotia.
>
> Cheers,
> CA Fuller



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