Economic Recovery: Communities
In assisting low-income communities, Seedco focuses its work on two key economic and social resources: anchor real estate developments and nonprofit, community-based service providers. Commercial developments like hotels and retail centers, and institutional anchors like hospitals and universities bring jobs, amenities, and economic activity to neighborhoods hit hard by disinvestment. The recession has increased the need for such investments in many communities. Faith-based and community organizations provide critical front-line social assistance, but today many are struggling to serve more clients with fewer resources. And many organizations are coping with fundraising decreases and the loss of credit. Seedco's recovery initiative supports commercial anchors and nonprofits through the following services:
Phase 1: Recovery
In assisting low-income communities, Seedco focuses its work on two key economic and social resources: anchor real estate developments and nonprofit, community-based service providers. Commercial developments like hotels and retail centers, and institutional anchors like hospitals and universities bring jobs, amenities, and economic activity to neighborhoods hit hard by disinvestment. The recession has increased the need for such investments in many communities. Faith-based and community organizations provide critical front-line social assistance, but today many are struggling to serve more clients with fewer resources. And many organizations are coping with fundraising decreases and the loss of credit. Seedco's recovery initiative supports commercial anchors and nonprofits through the following services:
Phase 1: Recovery
- › Immediate development and job-creation investments: Seedco Financial is looking to use its New Markets Tax Credit (NMTC) resources to facilitate deals that invest in community real estate development projects and create short-term construction-related jobs.
- › Nonprofit emergency financing and technical assistance: This effort builds on Seedco Financial's Human Services Loan Fund to provide loans of up to $1.5 million and technical assistance to help high-impact nonprofits restore credit and meet cash flow and working capital needs.
- › Economic stimulus technical assistance: Seedco is providing technical assistance services to its community and nonprofit partners to help them obtain federal, state, and local economic stimulus resources, including workforce development and block grant funds.
- › Long-term community investments: Seedco Financial is looking to invest in new sectors, such as energy-efficiency enterprises, in low-income communities, and use NMTCs to spur sustained economic growth.
- › Nonprofit sustainability and strategy assistance: Seedco is providing its partners with technical assistance to improve their operations and results.
- › Proactive resource and field development: Seedco is providing technical assistance to help community groups develop new program models in areas such as green jobs, identify new contracting and funding opportunities, share knowledge and best practices, and strengthen partnerships.