Creative Financing for Community Inclusion
Season 1, Episode 7
In Episode 7: Creative Financing for Community Inclusion, podcast hosts Nina Crook, graduate of Yale SOM with a Masters in Global Business and Society and Camilo Monge, MBA guide listeners through a series of conversations exploring different models of creative financing to build inclusive models for economic development and make possible investments in innovation that maximize community benefit. Guest interviews with: Joe Evans from The Kresge Foundation, Aliana Pineiro from Boston Impact Initiative, Greg Reaves from Mosaic Development Partners and Eric Letsinger from Quantified Ventures. Topics covered include: use of impact covenants for Opportunity Funds to differentiate funds with community benefit commitments, crowdfunding and other strategies to share the wealth potential of OZ projects with community members, and environmental impact bonds as another arrow in the quiver for municipalities layering OZ projects alongside other investments as part of a broader OZ development planning process. Take a listen!
1. Kresge Foundation OZ fund covenants, more info here
2. To read more about the use of covenants in investing: Impact Covenants: Term Sheets as Tools for Change, by Confluence Philanthropy, read more here
3. As mentioned in the conversation with Joe Evans, Guiding Principles and Reporting Framework for Opportunity Zones (Feb. 2019) from Opportunity Zone Investor Council, convened by the Beeck Center at Georgetown University.
3. For a write up of Mosaic’s use of crowdfunding: Crowdfunding and Opportunity Zones joining forces in Philadelphia, Next City, more info here
4. Quantified Ventures http://www.quantifiedventures.com/environmental-impact-bonds
*Photo of Eastern Lofts, a project of Mosaic Development Partners in Philadelphia, courtesy of Greg Reaves