It is with heavy hearts that we note the passing of our colleague and friend, Lee Casper. Lee Casper spent his career investing and working in affordable housing. As a member of Reinvestment Fund’s Board and Loan Committee, he worked to revitalize neighborhoods throughout this region.
“Reinvestment Fund was founded on the principle of social justice, to help bring equity and opportunity to low-income communities in our region,” said Reinvestment Fund President and CEO Don Hinkle-Brown. “Our beginnings were in affordable housing and Lee Casper was instrumental to so much of what we were able to achieve for the communities we serve.”
One of Reinvestment Fund’s earliest projects was working with Lee and the Philadelphia Interfaith Action, a consortium of more than 40 religious associations, on an early project that built Nehemiah Homes in West Philadelphia. With construction financing from Reinvestment Fund, PIA’s 132-unit housing project became the city’s largest affordable housing project in more than 20 years.Read More
Reinvestment Fund is pleased to welcome Saul A. Behar to its Board of Directors. Mr. Behar serves as Vice President and General Counsel at the University City Science Center in Philadelphia, which provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies.Read More
Reinvestment Fund’s development team, TRF Development Partners was spotlighted in the Summer 2016 issue of Affordable Housing News.Read More
Reinvestment Fund today announced the grand opening of the new 114,000 square-foot Glenwood Kroger Marketplace located just across from Maynard Jackson High school at 800 Glenwood Avenue in Atlanta, GA. Reinvestment Fund provided New Markets Tax Credit (NMTC) financing for the Kroger’s Marketplace concept store which is distinctive from its other grocery stores because in addition to a full-service grocery, a pharmacy, and health and beauty departments, it also includes a health clinic, general merchandise such as home goods, apparel, and jewelry, and a fuel station.
Located in a USDA food desert and a Reinvestment Fund-designated limited supermarket access (LSA) area, the new store will provide shoppers with access to more healthy and affordable food options for an estimated 43,000 people living within two miles of the store and who currently do not have easy access to a supermarket.Read More
Reinvestment Fund and Atlanta Neighborhood Development Partnership (ANDP) announced Yonina Gray as a new Director of Business Development. This is a unique position that will lead the growth of community revitalization efforts of both Reinvestment Fund and ANDP in the Atlanta metropolitan region.Read More
Reinvestment Fund and the Robert Wood Johnson Foundation (RWJF) today announced $3 million in awards across 50 mid-size cities in 31 states for Invest Health, an initiative aimed at transforming how city leaders work together to help low-income communities thrive, with specific attention to community features that drive health such as access to safe and affordable housing, places to play and exercise, and quality jobs.
More than 180 teams from 170 communities applied for grants of $60,000 each, which were available to cities with populations between 50,000 and 400,000. Applicants were required to form five-member teams including representatives from the public sector, community development, and an anchor institution, preferably academic or health-related. Selected teams also include members from public school districts, community organizations, and local philanthropies.Read More
In March, Reinvestment Fund received a $15 million grant from the William Penn Foundation that will expand the Fund for Quality, a joint project with Public Health Management Corporation (PHMC) that has created 630 high-quality early childhood education seats for low-income children.
This new grant will help create an additional 1,500 seats by 2021, which means that over the coming years, thousands more children from low-income families will have quality early learning opportunities across the City of Philadelphia.Read More
Reinvestment Fund’s PolicyMap’s President, Maggie McCullough has been named a “2016 Tech Disruptor” by the Philadelphia Business Journal. The award honors the top individuals changing and energizing the Greater Philadelphia technology community. Awardees will be honored at the inaugural banquet on Thursday, April 14, 2016 at the Sheraton Philadelphia Downtown Hotel. McCullough is the founding President of PolicyMap, a business of Reinvestment Fund.
“The concept for PolicyMap grew out of Maggie’s vision for democratizing data and making it easy for decision makers to access reliable data,” shared Robert Keith, Managing Director of TL Ventures. Keith, who served for more than 15 years as a member of Reinvestment Fund’s Board of Directors including time as Chairman, nominated McCullough for the award.Read More
Reinvestment Fund and the Robert Wood Johnson Foundation (RWJF) announced the formation of the National Advisory Committee for Invest Health. Invest Health is a pioneering, multi-sector initiative of Reinvestment Fund and RWJF that seeks to fundamentally change the way cities improve opportunities for their citizens to live healthy lives.
The National Advisory Committee brings together 12 nationally recognized experts in the integration of health and community development to provide guidance to the initiative. Members consist of distinguished representatives from government, community development, economic and social policy institutions, and non-profit organizations.Read More
Fund for Quality received a $15 million grant from the William Penn Foundation today. The Fund for Quality is a local initiative that provides capital and planning services for the expansion of high-quality early childhood education facilities in Philadelphia, particularly for families with low incomes. In addition to the grant funds available to high-quality providers, Reinvestment Fund has committed up to $7.65 million in loan capital from its network of 850 investors, to be used for facility expansion. The Fund for Quality began in 2014 with an initial $4.6 million grant from the William Penn Foundation and an additional $1.5 million in capital from Reinvestment Fund. The Fund for Quality is operated by Reinvestment Fund and Public Health Management Corporation (PHMC) to increase the availability and accessibility of high-quality early learning opportunities throughout the city. The Fund for Quality helps high quality centers serve more children in current sites and open new sites in areas of high need.Read More