GEEARS: Georgia Early Education Alliance for Ready Students, Learn4Life, Metro Atlanta Chamber, and Reinvestment Fund today announced the launch of ATL ACCESS Map, a new tool to explore the early learning landscape in Metro Atlanta. ATL ACCESS (Atlanta Child Care and Early Learning Supply Status) Map models the supply, demand, and gaps related to child care in the region. It identifies places where care is most scarce, and where investments are most needed.
Neighborhoods across the five-county metro region, which includes Fulton, DeKalb, Clayton, Cobb, and Gwinnett, have a shortage of early care and education services. Data estimates that there are as many as 262,000 children under five in the metro region who need access to care.Read More
Reinvestment Fund and Urban Advisors are pleased to announce the launch of Nile River Capital, a new initiative to support small contractors and disadvantaged businesses, including minority and women entrepreneurs.
Nile River Capital will provide strategic, impact-oriented investments that address the financial challenges faced by small businesses and minority entrepreneurs, primarily in the construction trades.Read More
Continuing its commitment to improve early childhood in the District of Columbia, the Bainum Family Foundation today announced a $4.5 million partnership with national expert Reinvestment Fund to help expand the supply of high-quality early learning seats for infants and toddlers in Wards 7 and 8. The Foundation’s strategic plan calls for adding 750 high-quality early learning seats in these two wards by 2020. Efforts to meet this goal include creating new seats through facility construction and expansion, as well as improving the quality of facilities with existing seats.Read More
Reinvestment Fund participated in financing for the construction of a new CrescentCare health care facility in New Orleans, bringing much-needed primary care and prevention services to a community still rebuilding after Hurricane Katrina. The new 64,000-square-foot facility will enable CrescentCare, a community health center that provides a spectrum of care to expand access to primary care services while enhancing care for current patients. Construction will begin later this summer, resulting in the consolidation of four existing leased facilities into one comprehensive campus. The project will create or preserve over 450 part- and full-time jobs.Read More
Reinvestment Fund announced the creation of a $10 million Pay for Success (PFS) Fund to support PFS transactions in the United States. 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 its core loan fund, which is supported by more than 850 impact investors. Reinvestment Fund will also manage and administer the fund.Read More
Reinvestment Fund, an S&P AA rated Community Development Financial Institution (CDFI), today announced the pricing of $50 million in general obligation bonds. Reinvestment Fund is one of the first CDFIs to access the capital markets and their bonds were oversubscribed, confirming a significant demand among institutional investors for the unique impact investing opportunities their CDFI provides low-income communities across the country.
“The CDFI industry was founded on the faith, trust and patience of a unique class of American investor. These forerunners to impact investors accepted an unconventional and illiquid investment vehicle for many years in the pursuit of a socially responsible outcome for themselves and underinvested communities,” said Donald Hinkle-Brown, President and CEO, in making the announcement.Read More
The United States Department of Agriculture has announced the selection of Reinvestment Fund to serve as the National Fund Manager for the Healthy Food Financing Initiative (HFFI). The announcement, which came from Agriculture Under Secretary Lisa Mensah, is a capstone to Reinvestment Fund’s decade plus efforts to bring equitable access to healthy food to communities across America.
As the National Fund Manager, Reinvestment Fund will raise private capital, provide financial and technical assistance to regional, state and local partnerships, and channel capital to fund eligible projects that will improve access to fresh, healthy foods in underserved rural areas.Read More
Philadelphia, December 19, 2016 — Reinvestment Fund announced the financing of its fourth Pay for Success project today. The Salt Lake County initiative aims to offer a better program to address a long-running county problem – persistent homelessness. Local nonprofit, The Road Home, will operate the Homes Not Jail Program.
The Homes Not Jail program will provide services to improve housing stability, criminal justice and behavioral health outcomes for the persistently homeless. It will serve 315 individuals offering a range of housing assistance and support services including access to behavioral health treatment and employment counseling. Rental assistance through the private rental market and intensive case management are included in the six-year project.Read More
Philadelphia, December 19—Reinvestment Fund was awarded a $3 million program-related investment by The Kresge Foundation to support its creative placemaking efforts in Baltimore, Atlanta and New Orleans. Reinvestment Fund is one of six organizations that received a total of $14 million in investments from Kresge.
Reinvestment Fund has made over $95 million in arts-related investments—from the Crane Arts building, an old bath fixtures warehouse in Philadelphia that now includes studios and makerspace to the revival of the Center Theater in Baltimore, MD, which sat vacant for decades.
Baltimore, December 14th —A collection of local public, private, non-profit entities today announced a $10 million loan initiative to help finance neighborhood revitalization projects in a group of Baltimore City neighborhoods where traditional funding may be hard to come by.
Known as the Central Baltimore Future Fund or CBFF, the multi-million lending initiative is designed to work in collaboration with a comprehensive revitalization strategy for a cluster of central Baltimore neighborhoods by providing loans to developers and building owners who are seeking to build or restore high-impact projects.
The CBFF will be managed by Reinvestment Fund, a national leader in the financing of neighborhood revitalization. Reinvestment Fund, which is headquartered in Philadelphia with an office in Baltimore, is responsible for underwriting, closing and monitoring the CBFF loans.Read More