As we are deep into budget season, here are three key takeaways from our very deep dive into housing funding in Philadelphia in partnership with Octavia Howell and The Pew Charitable Trusts: 1. Local funding is a critical component of a responsive housing strategy.? 2. Coordination among local housing entities and with private funders is key to unlocking additional resources. 3. ?The?return-on-investment framework?Reinvestment Fund and Pew developed illustrates the power of holistically examining the benefits that result from investments in housing - rather than assessing a program on a single metric, such as cost. https://lnkd.in/eiukq-g3
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Of the nearly $2.3 billion Philadelphia spent on housing from FY21-23, 7% came from the general fund. It is the largest source of flexible funds in use among city housing entities. To learn more about how Philadelphia spends dollars on housing, view The Pew Charitable Trusts and Reinvestment Fund research.?#PHLBudget #Housing #Philadelphia?
How Will Philadelphia Fund Housing in a Time of Transition?
pewtrusts.org
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"The cost for resolving Philadelphia’s housing issues is enormous. It would take $882 million to eliminate cost burden for Philadelphia residents for a single year, according to Reinvestment Fund estimates; about?$2 billion?to address home repair needs in the city; and?$3.5 billion?to add an additional 15,000 market-rate units to the city’s housing stock. A significant infusion of funds from new public and private sources may be the only way to truly move the needle." The Pew Charitable Trusts Octavia Howell and Reinvestment Fund Emily Dowdall on the challenges of affordable housing in #Philadelphia today and how city leaders can make difficult choices on how to spend the dollars they have. #housing #affordability #Philly https://lnkd.in/epn4DqnW
How Will Philadelphia Fund Housing in a Time of Transition?
pewtrusts.org
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For years, the housing needs of Philadelphians have simmered at near-crisis levels. Families, both new to the city and those who have lived there for generations, have grappled with myriad challenges including cost burden, which is a household spending more than 30% of its income on housing; mounting repair needs; homelessness; and an overall shortage in housing supply. In this Op-Ed, Emily Dowdall from Reinvestment Fund and Octavia Howell from The Pew Charitable Trusts dive into how local dollars, partnerships, and evaluation can advance the city’s housing agenda. https://lnkd.in/dUnCnJSm
It's Budget Season in Philadelphia. How Will the New Administration Choose to Fund Its Housing Priorities?
https://www.reinvestment.com
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An interesting article on how the city of SF is using unspent COVID relief money to help nonprofits get into distressed properties. "The pool of cash, comprising unspent federal and state Covid relief funds set aside for budget shortfalls, was established in 2022 by Supervisor Connie Chan and is meant to subsidize real estate acquisitions and facility improvements for nonprofits in one of the most expensive U.S. cities." #SF #COVIDRelief #Nonprofits
SF is helping nonprofits buy up distressed real estate
sfstandard.com
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?? Connecticut's Housing Crisis Recent reports show that Connecticut's housing crisis continues to worsen, with more families struggling to find affordable and stable homes. At Habitat for Humanity of North Central Connecticut, we see firsthand the impact that lack of affordable housing has on our community. We are committed to addressing this crisis by building and renovating homes, providing zero-interest mortgages, and supporting families on their journey to homeownership. But we need your help! Read the article here: https://ow.ly/ymCq50SK6Jv Here’s how you can make a difference: -Volunteer: Lend your time and skills to help build homes. -Donate: Your contributions directly support our mission. -Advocate: Spread the word about the importance of affordable housing. Together, we can create a brighter future for families in need. Learn more and get involved: https://ow.ly/EqGz50SK6Ju #HabitatForHumanity #AffordableHousing #HousingCrisis #HFHNCC #BuildingHope #CommunitySupport #like #comment #share #Thursday #july #fyp
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Would Rhode Islanders benefiting from nonprofits appreciate an extra $24,484.26? We think so. Moving into a new home can be quite a burden on the wallet which is why we love seeing programs that help renters pay the upfront security deposit. But imagine if Rhode Island used these funds to help renters pay their security deposit with Whale instead of handing money over to the landlord. Renters would collectively earn almost $25K in the first year on their deposits, giving them spending money they can use and teaching them the power of investing. Small amounts of money, invested over time, builds wealth. #rhodeisland #nonprofits #renters https://lnkd.in/ehX9yQbk
Nonprofits receive $260,000 to help RI’ers stay housed this winter - What's Up Newp
https://whatsupnewp.com
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Have You Heard? ???????????? ?????????????? ?????????????????????? ?????? ?????????????? ????????????????—and for good reason. ?? The demand for ????????????????????, ???????????? ?????????? is at a record high, but the supply just can’t keep pace. ??? With waiting lists growing, councils and housing providers are under pressure to deliver solutions. Take a closer look at the numbers: ?? In 2023, only ????,?????? ???????????????????? ?????????? were built in England, leaving over ??.??1 ?????????????? households still waiting for a place to call home. ???????? ???? ?????????? ???????????? ?????????????? ?????????????????? ???????? ????. By partnering with councils, housing associations, and charities, these investors help create homes for individuals and families who need them most. ?? It’s not just about financial returns; it’s about making a real impact where it’s needed most. ?? Interested in being part of this solution? DM me or comment ‘SH’ below to learn more! ???? #socialhousing #socialimpact #affordablehousing #propertyuk #positiveimpact #makeadifference #passiveincome #propertyinvesting
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Have You Heard? ???????????? ?????????????? ?????????????????????? ?????? ?????????????? ????????????????—and for good reason. ?? The demand for ????????????????????, ???????????? ?????????? is at a record high, but the supply just can’t keep pace. ??? With waiting lists growing, councils and housing providers are under pressure to deliver solutions. Take a closer look at the numbers: ?? In 2023, only ????,?????? ???????????????????? ?????????? were built in England, leaving over ??.??1 ?????????????? households still waiting for a place to call home. ???????? ???? ?????????? ???????????? ?????????????? ?????????????????? ???????? ????. By partnering with councils, housing associations, and charities, these investors help create homes for individuals and families who need them most. ?? It’s not just about financial returns; it’s about making a real impact where it’s needed most. ?? Interested in being part of this solution? DM me or comment ‘SH’ below to learn more! ???? #socialhousing #socialimpact #affordablehousing #propertyuk #positiveimpact #makeadifference #passiveincome #propertyinvesting
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We're thrilled to share that our $250,000 community bond investment in Propolis Cooperative Housing Society will be helping bring affordable, sustainable, net-zero multifamily buildings in Kamloops, BC! ? Propolis, a grassroots, volunteer-run organization, is set to build a six-storey mixed-use building with 50 affordable units and 9,300 sq. ft. of commercial space. ? ?? Affordable Living: The net-zero units, from bachelor to 3-bedroom suites, will feature universal design, common gardens, amenity spaces, and a shared vehicle program. All units will be non-profit co-operative housing, priced below market rents, catering to families, professionals, retirees, and students. ? ?? Community Impact: "We urgently need more affordable housing options," says Lindsay Harris, Executive Director at Propolis. "First West's investment aligns perfectly with our mission and brings us closer to building our first 50 homes." ? ?? Innovative Financing: First West's purchase of Propolis Bonds marks the largest single community bond investment in this offering. Community bonds are a social finance tool that helps charities, non-profits, and co-ops fund impactful projects. ? ?? Partnerships for Change: "Credit Unions exist to address community challenges," says Launi Skinner, CEO at First West. "By partnering with Propolis, we support sustainable and affordable housing while addressing inequality." ? Learn more at Propolis Cooperative Housing Society: https://lnkd.in/grGhRNJQ #kamloops #kamloopsbc
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#memberspotlight? ? First West Credit Union’s $250,000 community bond investment in Propolis Cooperative Housing Society demonstrates how organizations can support innovative solutions to address critical community challenges.? ? First West’s contribution to the development of net-zero, affordable housing in Kamloops, BC, is a partnership that exemplifies the role businesses can play in creating positive social impact.? ? Learn more about Propolis Cooperative Housing Society here: https://lnkd.in/grGhRNJQ ? #CommunityInvestment #AffordableHousing #SocialFinance #CorporateLeadership?#CommunityImpact #CorporateResponsibility #CSR #CIMatters #ESG #CommunityInvestment? #ReportingStandards #LBGCanada #CommunityImpact #StandardizedReporting Susan Byrom
We're thrilled to share that our $250,000 community bond investment in Propolis Cooperative Housing Society will be helping bring affordable, sustainable, net-zero multifamily buildings in Kamloops, BC! ? Propolis, a grassroots, volunteer-run organization, is set to build a six-storey mixed-use building with 50 affordable units and 9,300 sq. ft. of commercial space. ? ?? Affordable Living: The net-zero units, from bachelor to 3-bedroom suites, will feature universal design, common gardens, amenity spaces, and a shared vehicle program. All units will be non-profit co-operative housing, priced below market rents, catering to families, professionals, retirees, and students. ? ?? Community Impact: "We urgently need more affordable housing options," says Lindsay Harris, Executive Director at Propolis. "First West's investment aligns perfectly with our mission and brings us closer to building our first 50 homes." ? ?? Innovative Financing: First West's purchase of Propolis Bonds marks the largest single community bond investment in this offering. Community bonds are a social finance tool that helps charities, non-profits, and co-ops fund impactful projects. ? ?? Partnerships for Change: "Credit Unions exist to address community challenges," says Launi Skinner, CEO at First West. "By partnering with Propolis, we support sustainable and affordable housing while addressing inequality." ? Learn more at Propolis Cooperative Housing Society: https://lnkd.in/grGhRNJQ #kamloops #kamloopsbc
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COO | Strategic Leader in Impact Investments | Innovative Finance | Community and Economic Development
10 个月Great work, Emily Dowdall. Thanks for sharing the ROI Framework so everyone can consider this approach.