FUNDING COMMUNITIES
Karl Dakin
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RCI Community Funds (RCI) is planning to establish a series community investment funds to revitalize, catalyze, and impact selected communities. It’s goal is to place funding strategically into real estate and local businesses to generate sustainable economic growth for underserved and economically distressed communities that have been ‘left behind’.
?RCI will partner with local, regional, state, and national organizations and programs to create comprehensive and inclusive plans for business development, job generation, workforce training, residential housing, and community projects and programs.
?A profit business model will be utilized to attract and match local investment with external investment (outside the community). Each fund will generate profits from its operation that will pay back investors with a return and enable continuing investment within the community.
?Utilizing the Diversified Community Investment Fund model developed by the National Coalition for Community Capital , it is planned to allocate investments out of each fund as follows:
●????? Real Estate (60%)
o?? Residential (20%)
o?? Commercial – Retail, Office, Light Industrial (20%)
o?? Community (20%)
●????? Local Businesses (40%)
?Money raised into each fund will be leveraged with private investment and debt financing to expand the total funding that can be invested in a community.
?These investments are designed to be interactive with funded local businesses, placing workers in the housing units, taking commercial space, and supporting community properties.
?The residential and commercial properties will be designed to enable a transfer of ownership to workers and businesses within a wealth building program.
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CALL FOR COLLABORATION
?RCI is currently reaching out to people, organizations and programs with whom its leadership team has worked to begin building a national collaboration of partners that can develop best funding practices, share knowledge and accelerate community revitalization.
?Anyone interested in joining in this effort should contact:
Aaron Shalom
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COMMUNITY REVITALIZATION AT WORK – PLATTEVILLE, WISCONSIN
?For several years, Platteville, WI, has focused on revitalizing a longtime vacant auto dealership located at the entrance to downtown. This effort culminated in 2019 with the unveiling of the Ruxton Apartments, resulting from a public-private partnership. This development features 70 residential apartments along with classroom space for Southwest Technical College on the ground floor. The project was made possible by an investment of over $14 million, which included both brownfield funding and tax increment financing (TIF) from the local government. It emphasizes sustainable design while successfully incorporating aspects of the building’s historical fa?ade.
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?In addition, the renovation of the former Carnegie Library in Platteville has been completed. This project was distinguished with the title of Best Historic Restoration in the state. Used as office space since the early 1980s, the library required considerable restoration to reclaim its former elegance. Leveraging historic tax credits, the restoration involved renewing the windows, woodwork, and masonry, along with the installation of an elevator and access ramp, resulting in an exceptional office suite.
?These initiatives showcase the effectiveness and advantages of utilizing innovative financing and development resources to create a meaningful difference in community housing, education, and learning programs.
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CALL FOR SUCCESS STORIES
?If you have a success story on community revitalization that you would like to share with others through this newsletter, please contact:
Aaron Shalom
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SHOW ON LINKEDIN LIVE
JOIN US for the Next LinkedIn Live Show of RCI Community Funds!
RCI Community Funds is excited to announce the launch of a series of community investment funds aimed at revitalizing selected underserved communities.
?You are invited:
??? Date: August 8, 2024 ?? Time: 8 a.m. MDT
?Register now to be part of our interactive audience:
What to Expect:
●?????? Bill Huston – Crowd Max
●?????? Investment Crowdfunding
●?????? Community Capital
?Featuring Speakers:
●?????? Karl Dakin
●?????? Stephen Shaff
●?????? Bill Huston
We look forward to your participation and engaging with you on this exciting journey toward community revitalization.
LAST THURSDAY, we presented our inaugural LinkedIn Live show this morning. Four members of our team, which also includes @Stephen Shaff, @Bill Huston and @Jeff Dangremond, joined with me in introducing the company, its mission to create sustainable communities and our business model.
You may view a recording of the show at:
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?RCI MANAGEMENT TEAM
?RCI is led by Stephen Shaff , Bill Huston , Jeff Dangremond , Aaron Shalom , and Karl Dakin , who collectively hold over 150 years of experience in community engagement, organization, and fundraising. For detailed information on the management team’s background, see here .
?The management team boasts a robust network of experts across various disciplines and leaders experienced in prior community revitalization and economic justice projects. This extensive network acts as a dynamic repository of knowledge, documentation, and financial data, serving as a foundation for the team's strategic planning and execution. Leveraging these connections, the team is uniquely positioned to implement a scalable proposed funding model with precision, drawing on proven strategies and insights from past successes.
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I help you overcome challenges to raising capital. Take advantage of my Motivated Money Method to identify those investor candidates that are most likely to invest. Top expert in fundraising.
3 个月Do you know of a successful community revitalization story?