Financing involves a blended model; our aim is to maximize philanthropy to get the most ongoing community benefit possible while leveraging all the financial tools at our disposal, from tax credits to conventional loans and local, regional and national below-market investment.
Philanthropy and philanthropic (also known as impact) investments are the lynchpin of Phase 2. Every challenge is an opportunity. And the challenges communities are facing today are extraordinary. To seize these extraordinary opportunities for the benefit of thousands of area residents, we need institutional funders and individual donors to think differently about their assets and how to put them to work, including how much to put to work. If we can do that, we will move beyond the constraints of traditional housing finance tools and siloed thinking. We will achieve what’s possible rather than settling for less. Only then will we live up to the expectations and aspirations of our communities and realize broad-based prosperity.
