Also by Reinvestment Fund

Reinvestment News Spring 2021

Spring 2021 NEWS

Investing for Future Generations

Regardless of race, class or income, communities everywhere want to make things better for generations to come. The use of safe, clean, locally-made energy from the sun is a way to ensure the well-being of future generations while also helping homeowners invest in their homes. PosiGen is a residential solar developer that works primarily with low- to moderate-income households and in communities of color. The firm pioneered a unique approach to assessing credit risk of customers focusing on utility bill payment history instead of credit scores, and also developed an “out of the box” system design that reduced installation costs compared to the “design to fit” systems more prevalent in the industry. Supported by these two innovations, the firm has installed over 17,000 systems to date, with over 70% of its customers being low- to moderate-income households. The company has expanded from its core Louisiana market into New Jersey and Connecticut. Reinvestment Fund is excited to partner with Mizzen Capital and Stonehenge Capital to provide investments that will help PosiGen make solar more accessible, enabling families to save money on their utility bills, and take steps toward a brighter future. Read more.

Philadelphia Food Justice Initiative

Supporting A Just Food System

Historically, the food system has displaced, enslaved, and undervalued the labor, land rights, and self-determination of Black and brown individuals, women, immigrants, and indigenous people. The effects of those actions are evident in Philadelphia today, where neighborhoods with higher concentrations of lower-income households and/or Black and Latinx/Hispanic Philadelphians still have fewer fresh food choices The Philadelphia Department of Public Health and the Reinvestment Fund established the Philadelphia Food Justice Initiative to support local entrepreneurs and communities that are empowered to grow, sell, and eat healthy food. The initiative recently awarded more than $443,500 to fund several innovative initiatives to create more healthy food options. This is part of an effort to find and fund community-driven solutions to historic food injustice. In total, the initiative has provided over $620,000 in grants over two rounds since its launch in 2019. Above photo credit: Ali Mendelson, MD

News & Resources

News: New federal study suggests that Black and non-white Hispanic borrowers would be able to accrue more wealth if barriers for refinancing were reduced.

News: America’s Healthy Food Financing Initiative announces $3 million in financial assistance awards to 20 food access projects.

News: Congratulations 215 People’s Alliance and Tenant Union Representative Network (TURN) on receiving Reinvestment Fund’s Community Champion Award, which honors their extraordinary efforts to support families and communities in Philadelphia, particularly in response to COVID-19.

News: 
Reinvestment Fund is selected as one of 150 organizations globally to receive the 2021 Real Leaders Impact AwardSee all awardees.

News: 
Reinvestment Fund welcomes the Open Access/REAP Program’s Fellow, Steven McClendon. Steven will be working with our NMTC team to bring high-impact projects to communities across the nation.

Resource: 
West Philadelphia renters face a growing risk of displacement. The trend is among several detailed in a new report from Third District Councilmember Jamie Gauthier’s office, Reinvestment Fund, and Urban Spatial.

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Reinvestment Fund, with support from the Robert Wood Johnson Foundation launches the Building Healthier, More Equitable  Communities (BHEC) initiative, which aims to spur equitable development and healthy communities in four NJ cities—Asbury Park, Camden, Newark, and Paterson.

News:
 S&P Global Ratings affirms Reinvestment Fund’s ‘A+’ issuer credit rating.

News: New blog from the Build Health Places Network highlights how cross-sector and resident leaders in Invest Health cities are working towards building healthier communities, and sustaining community engagement and partnerships despite COVID-19.

Resource:
 Research by Reinvestment Fund and the Housing Initiative at Penn examines the experiences and perspectives of residential landlords in the face of challenges including how they dealt with evictions and engaged with programs aimed at stabilizing tenants in rental housing.

Resource:
 New Reinvestment Fund analysis looks at what parents were doing for childcare before the onset of COVID-19, how that changed, and what parents’ priorities are in getting kids back into childcare.

News:
 Unable to afford crucial home repairs and maintenance, many low-income homeowners are left in unsafe homes. Reinvestment Fund and the Greensboro, NC, Invest Health team share the story of one homeowner’s path to getting help in Shelterforce.

Resource:
 The NEW PolicyMap is live with a state-of-the-art mapping platform making it even easier to find visualize neighborhood-level data.


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