Also by Reinvestment Fund

Reinvestment News Summer 2017

 

 


Connecting capital markets and
low-income communities


Reinvestment Fund CEO Don Hinkle-Brown, at the 2017 GSG Impact Summit in Chicago

Reinvestment Fund was named the Asset Manager of the Year by the Global Social Impact Investment Steering Group (GSG), an independent umbrella organization for nations working to catalyze impact investment and entrepreneurship to benefit people and the planet.

In honoring Reinvestment Fund, GSG recognized our successful $50 million bond offering, which reached traditional capital markets for low-income community development.

“Thanks to GSG for selecting us for this honor. We are merely a representative of new trends shaping our field. After decades of effort and false starts, there is now a solid bridge to the capital markets for CDFIs like us. This is just a beginning—we have years of more work ahead.”

CEO Don Hinkle-Brown

NOW OPEN: ATLANTA OFFICE

Reinvestment Fund is pleased to announce that we have opened our first office outside the mid-Atlantic, in Atlanta, GA, that will anchor our work throughout the southeastern United States. We’re also hiring an Atlanta-based Director of K-12 Education.

Philly City Council Heeds Warning on Evictions, Middle Neighborhoods

Last year, Reinvestment Fund’s Policy Solutions team examined evictions in Philadelphia. We found that about 20,000 renters are evicted each year—that’s one in every 14 renters. In majority Black neighborhoods, eviction rates were more than three times as high as predominantly White areas. We testified before Philadelphia City Council about our findings.  This summer, City Council allocated $500,000 to support renters in eviction proceedings, crediting the work of Policy Solutions as influential in that funding decision.


Reinvestment Fund’s Emily Dowdall (far left) as Councilwoman Helen Gym announced new funding to support renters facing eviction

Joined by Congressman Dwight Evans, we also presented our research into “middle neighborhoods” to the Council’s Committee on Housing, Neighborhood Development and the Homeless. These are neither the poorest nor the wealthiest neighborhoods in a city, typically experiencing neither precipitous decline nor rapid appreciation.

Middle neighborhoods are critical to cities’ economic stability and opportunity, which is why it’s important that cities consider policies to bolster these areas strengths, before they find themselves in decline. Read more in On the Edge: America’s Middle Neighborhoods, edited by Paul Brophy, a member of our Policy Advisory Board and to which we contributed a chapter.

POLICYMAP ONE OF THE TOP 20 MOST PROMISING GIS TOOLS IN 2017

CIO Magazine praised PolicyMap for its easy-to-use online mapping. “The self-service nature of PolicyMap, the sheer amount of data in our platform, the simple user interface and our high quality customer and professional services set us apart from the competition.” –Maggie McCullough, PolicyMap President

First-of-its-Kind Pay for Success Fund

Reinvestment Fund has secured capital commitments for a first-of its kind, $10 million Pay for Success (PFS) Fund to support PFS projects across the United States. Pay for Success is an innovative way to align private capital with promising policy interventions and high-impact social services, health care, housing and education programs, while offsetting the financial risk to tax payers if the programs are not successful.

QBE Insurance Group, one of the world’s top 20 general insurance and reinsurance companies, plans to invest $7 million in the fund. Living Cities, a collective of the world’s largest foundations and financial institutions, plans to invest $2 million. Reinvestment Fund will invest $1 million from our own core loan fund, which is supported by more than 865 impact investors. Reinvestment Fund will also manage and administer the fund.


In Fast Company, Reinvestment Fund Board Members Make the Case for the CDFI Fund

CONTRIBUTED BY JOHN SUMMERS AND MARK ZANDI

This Program Makes Loans To Businesses In Distressed Areas:
Trump Wants To Cut It

The Community Development Financial Institutions Fund is being zeroed out in the administration’s new budget. Here’s why it’s vital–especially to the president’s base.

Buried deep in President Trump’s federal budget proposal is a zeroing out of money for the Community Development Financial Institutions Fund. It barely registers in the grand scheme of the government budget, but cutting it puts a dagger in the heart of a highly successful effort to provide credit to struggling small towns and communities across America–the very places the president says he wants to help.

Consider Honor Capital, a veteran-owned and operated business, which sought to open a grocery store in the rural community of Winfield, Kansas. It was Reinvestment Fund that provided the capital and expertise needed, working with the South Central Kansas Economic Development District and Crowley County to get the store open. New jobs were created and the community had access to healthier food.

CFO OF THE YEAR

Reinvestment Fund CFO Mike Crist was named one of Philadelphia Business Journal’s 2017 CFOs of the year. This award honors the best and the brightest: executives that exemplify the professionalism, integrity, resilience, and mastery of all the financial and people skills that make a great CFO.

Expanding Community Health Care Nationwide

Reinvestment Fund financing is helping SUN Behavioral Health build a new psychiatric hospital in Georgetown, Delaware. The hospital will have 90 in-patient beds and offer intensive outpatient services as well as 24-hour assessment services. This 93,170-square-foot facility will make behavioral health care accessible and will alleviate stresses on local emergency rooms. Services will be available to Medicaid and uninsured patients.

Reinvestment Fund is financing a new facility for CrescentCare in New Orleans. The facility will consolidate four existing health center sites into one new building with more resources available to serve more patients.

CrescentCare is a community health care provider and an AIDS Services Organization offering preventative services, case management and primary medical care. In 2016, CrescentCare served over 20,000 clients across its health services, prevention and other supportive programs; with this new campus, it expects to more than double its patient visits.

INVEST HEALTH PHOENIX

Thanks to our 50 Invest Health teams for joining us at the third national convening in Phoenix, AZ. See photos from the convening.

    

ABOUT REINVESTMENT FUND
Reinvestment Fund is a catalyst for change in low-income communities. We integrate data, policy and strategic investments to improve the quality of life in low-income neighborhoods. Using analytical and financial tools, we bring high-quality grocery stores, affordable housing, schools and health centers to the communities that need better access—creating anchors that attract investment over the long term and help families lead healthier, more productive lives.

Email: info@reinvestment.com
For information on investing: Call 215.574.5819 or email invest@reinvestment.com
For media inquiries: Call 215.574.5893.

PHILADELPHIA
1700 Market Street, 19th floor
Philadelphia, PA 19103
TEL 215.574.5800  FAX 215.574.5900

BALTIMORE
1707 North Charles Street, Suite 200B
Baltimore, MD 21201
TEL 410.783.1110

ATLANTA
29 Peachtree Street NE, Suite 750
International Tower
Atlanta, GA 30303
TEL 404.400.1130

  

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