Michigan Good Food Fund Tops $10 Million Milestone in Statewide Good Food Investments Projects span state and sectors featuring retail and processing projects
Detroit, MI (MAY 17, 2017) – Six food enterprises in Grand Rapids, Kalamazoo, Southeast Michigan, and the Upper Peninsula received financing from the Capital Impact managed Michigan Good Food Fund. This marks more than $10.5 million in investments since its launch two years ago.
Project Equity and the Food Co-op Initiative Share $50,000 Prize
Arlington, VA (May 3, 2017) – Capital Impact Partners announced today that it has awarded grants totaling $50,000 to Project Equity and the Food Co-op Initiative, co-winners of its third annual Co-op Innovation Award. The award is given to recognize those organizations that demonstrate leadership in bringing the cooperative model to scale and in creating social impact for low-income communities.
Detroit Case Study Illustrates Challenges & Opportunities in Strengthening Markets
Arlington, VA/Detroit, MI (March 20, 2017)—As new development takes hold in once-distressed urban areas, it is important to address the risks of resident relocation and displacement that disproportionately impact low-income residents. With a focus on multifamily development in Detroit, a report from Capital Impact Partners identifies a number of practices that developers, investors, city officials, Community Development Financial Institutions (CDFIs), and public interest groups can use to plan for and responsibly manage development processes that may lead to resident displacement and relocation.
Initiative will scale worker-owned, home care cooperatives
Washington DC/Arlington, VA (March 21, 2017) – In an effort to create quality jobs for women aged 50 and older, AARP Foundation and Capital Impact Partners are working together to launch a national effort to scale worker-owned, home care cooperatives. Worker cooperatives are businesses owned and governed by employees
FY2016 lending in underserved communities totals $118 million
Arlington, VA (February 17, 2017)—Capital Impact Partners announced today that it financed projects in underserved communities across fives states including California, Michigan, Minnesota, New Hampshire, and Texas. Notable in this effort are deals that increased healthy food access, scaled cooperative efforts, and broadened and deepened the organization’s presence in Texas. Other enterprises supported by the organization included affordable housing, health care, and dignified aging facilities. This work is expected to create more than 275 permanent and 400 construction-related jobs, further providing help to those who live in the communities Capital Impact serves.
Award Will Help Attract Private Sector Capital Where Investment Most Needed
Arlington, VA (November 17, 2016) —The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has awarded Capital Impact Partners $70 million in New Markets Tax Credits (NMTC) allocation. This allocation enhances Capital Impact’s ability to incentivize private sector investors to partner in financing projects that increase access to critical social services in distressed communities, spur economic development, and create jobs. Capital Impact will use this new allocation to finance high-impact projects in cities like Detroit, Los Angeles, and Richmond, VA.
$27 million in project financing will create social impact for underserved communities across five states
Arlington, VA (11/7/2016)—Capital Impact Partners announced today that it provided $27 million in financing to projects delivering social impact to underserved communities across the U.S. during the third quarter of 2016. Charter school financing in multiple states represented a big focus during the quarter, with additional loans helping to increase access to quality health care in California, affordable housing in Detroit, and dignified elder care in Pennsylvania and Washington. Of particular note is the fact that nearly half of the ventures represent continued relationships with existing borrowers.
Organization among select group to receive both financial assistance and healthy food financing awards
Arlington, VA (September 26, 2016) Capital Impact Partners announced today that it has received $4.4 million in grants from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to increase lending and investment in low-income and economically distressed communities across the nation. Capital Impact Partners will use this funding to expand its strategic financing efforts that support increased access to quality health care and education, healthy foods, affordable housing and dignified aging alternatives for underserved communities.
Capital Impact Partners joins with top CDFI Lenders in bond issued by Community Reinvestment Fund, USA supporting economic development projects
Minneapolis, MN/Arlington, VA (September 29, 2016) On behalf of three of the nation’s leading Community Development Financial Institutions (CDFI), Community Reinvestment Fund, USA, (CRF) has issued a $165 million bond in the fourth round of the U.S. Treasury Department’s CDFI Bond Guarantee Program (BGP). The three CDFIs—Capital Impact Partners, Low Income Investment Fund and Reinvestment Fund—will use bond proceeds to finance projects that will create jobs and increase access to critical services in underserved communities across the nation. CRF has issued a total of $590 million since 2014.
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