"Our mission-driven team works tirelessly to ensure that good projects that increase access to critical social services for underserved communities receive the financing they need. These numbers demonstrate that," said
Launched in January, Capital Impact's new five-year strategy—a 2020 Vision for Communities—is based on four pillars of action: addressing systemic poverty, creating equity, building healthy communities, and promoting inclusive growth.
Other milestones of the second quarter include:
- Finalizing a
$3 million Program Related Investment(PRI) from the Ford Foundation. Capital Impact will leverage the PRI to work in partnership with the Crescent City Community Land Trustin New Orleansto encourage long-term affordability in that rapidly gentrifying city through the use of land trusts and other shared equity-ownership models. This represents the organization's third PRI with the Ford Foundationin eight years
- Marking the one-year anniversary of the launch of the
Age Strong Investment Fundin collaboration with AARP, AARP Foundation, and Calvert Foundation. This initiative works to spur investment in projects that allow low-income people 50 and over age with dignity in their own community. Capital Impact has closed four such transactions totaling $10 millionsince the fund was launched.
- Closing the first transaction under the
Healthier California Fund. Launched in partnership with The California Endowment, the fund supports community health center and clinic ability to grow and innovate in serving the state's low-income communities.
Natalie Gunnto the position of Chief Financial Officer. Gunn replaces Ellis Carr, who has assumed the role of President and Chief Executive Officer.
- Awarding grants totaling
$45,000to the Democracy at Work Instituteand Project Equity. Made through Capital Impact's second annual Co-op Innovation Award, the grants recognize those organizations that lead the way in bringing the cooperative model to scale and in having a social impact on low-income communities.
- Releasing two reports that highlight Capital Impact's work in
Los Angeles Countyand utilizing the New Markets Tax Credit Program.
"The second quarter of 2016 is one of our strongest to date. From health care to education, cooperatives to housing, that impact is going to be felt by some of highest-need communities in this country," said
Second quarter loan disbursements reached from
Highlights of completed transactions include:
Increasing Access to Health Care
The total cost of the Tri-City's renovation financing is
With a focus on connecting low-income seniors to health care access, Capital Impact worked with Keystone Healthcare Development Services (KHDS) to finance the construction of an expanded health center operated by
Finally, to support the continued expansion of
Providing High Quality Education
Representing one of its more remarkable charter school transactions, Capital Impact joined with the
Together, the two institutions will, at full capacity, bring essential education access to nearly 700 high-need students. LMPCS's current student body is 50 percent minority, 20 percent economically disadvantaged, and 19 percent with special education needs. Because of its heavy recruitment from
The three nonprofit lenders worked with the Charter School Incubator Initiative, a partnership between Building Hope and the Office of the State Superintendent
Across the country, in
Capital Impact provided a
In yet another partnership with LIIF, Capital Impact provided
Expanding Housing Co-Ops
A planned housing community in
Capital Impact continued to support inclusive growth across the city of
Supporting Dignified Aging
Capital Impact is helping to complete the final phase of the Thome Rivertown Neighborhood, a
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