INTEGRATED COMMUNITY INVESTMENTS
Karl Dakin
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RCI Community Funds (RCI) is planning to establish a series of community investment funds to revitalize, catalyze, and impact selected communities. Its goal is to place funding strategically into real estate and local businesses to generate sustainable economic growth for underserved and disinvested communities that have been ‘left behind.’
?A key to the success of a community investment fund determined by RCI Community Funds is integration of investments. Integration means that two or more investments work together to improve the likelihood of success of each other.
?As described in the Henrico County, Virginia success story below, the local government acted to establish a trust, dedicate a portion of local taxes, engaged in fractional ownership, and cleared the path for both for profit and nonprofit partners to build houses. However, with the ever-increasing cost of new and retrofit housing, even with all of these positive actions, many residents may find the housing unaffordable.
?With an integrated approach, a parallel program will work to establish new local businesses through local investments. With these new businesses come new jobs. These jobs may provide the income needed to become a homeowner in the housing program. However, instead of leaving the pairing of new jobs with housing to chance, a condition of businesses receiving investment dollars is that they work with the housing programs to place their workers in the housing with their assistance by providing downpayment assistance, underwriting or investing in the purchase of the home as a fractional owner or otherwise supporting the creditworthiness of the worker / home buyer.
?With an integrated approach, a parallel program will work to provide workforce training to elevate unskilled workers to skilled worker status and raise skilled workers to higher skills that enable the worker to command a higher paycheck and strengthen their credit rating. Again, the businesses receiving investment funding would be required to implement training programs as a condition of funding.
?In many communities all of these programs exist but act independently. As a result, these program do not realize the benefits of integration.
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SEE OUR NEW WEBSITE
?RCI has established its website – https://www.rcicommunityfunds.com We will be adding to this site and adding information on our work and the work of others who are supporting community investment.
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JOIN OUR GROUP
?We have established a ‘Group’ on LinkedIn as a forum for discussion and sharing information on rebuilding communities - https://www.dhirubhai.net/groups/14502175/ . We invite people who can team with us to become part of our community.
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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:
Karl Dakin
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?COMMUNITY REVITALIZATION AT WORK – HENRICO COUNTY, VIRGINIA
?A component of any community revitalization project is residential housing. This housing must not only be affordable but provide for home ownership as a method of enabling residents to build personal wealth.
?Henrico County, Virginia has established a trust for this purpose that demonstrates their vision for “One Henrico – a place that welcomes, values and supports everybody.”
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领英推荐
Under the land trust model, the trust retains ownership of the lot, even after the home is built and sold to an eligible buyer. That significantly lowers the homeowner’s monthly mortgage costs. Ownership of the lot also remains with the trust through subsequent sales of the dwelling, ensuring the property remains affordable in perpetuity. Each owner and the trust share in the equity that their combined investments earn over time.
?To further limit the costs of homes in the program, Henrico will waive its fees for water and sewer connections as well as building permits. The county also will expedite its planning review of proposed developments that include affordable units.
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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:
??????????? Karl Dakin
??????????? [email protected]
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SHOW ON LINKEDIN LIVE
RCI Community Funds presents the Community Revitalization show on Thursdays at 10 am Eastern Time on LinkedIn, YouTube, and Facebook.
TOMORROW, @RCI Community Funds will present the Community Revitalization show on LinkedIn Live, YouTube and Facebook. Our featured guest will be @Peter Rostovsky with RaiseWay where we will discuss the nuts and bolts of investment crowdfunding for local communities.
You may register to be in the audience for this show at:
THIS MORNING, @RCI Community Funds presented the Community Revitalization show. Our featured guest was @Jim Kucher. An Associate Professor at the University of Maryland, Baltimore, Jim teaches social entrepreneurship. @Karl Dakin and @Stephen Shaff discussed with Jim the challenges to operating a for profit business as a social enterprise when the cultural expectation is that only nonprofits may engage in activities that result in social impact.
You may see a recording 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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2 个月Karl Dakin an integrated investment strategy is a game-changer in community capital. By aligning multiple investments to support and amplify each other, it not only maximizes impact but also significantly boosts the chances of success for every investor involved. This concept of integration is what community capital is all about—creating a collaborative ecosystem where investments are not just isolated efforts, but interconnected forces driving real, measurable change. It’s a smart, innovative approach that truly embodies the power of community-focused investing.
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.
2 个月How can different community programs be improved by working together?