Sep 23 2010
This summer, the Community Solutions Team at NCB Capital Impact partnered to expand technical assistance initiatives and funds to support people and communities in need to have more choices of truly affordable homeownership and options to age in their communities including a:
- $750,000, five-year Program Related Investment (PRI) with the Rasmuson Foundation that will increase access to flexible, affordable capital for Alaskan nonprofit organizations seeking to expand and enhance their facilities. This will enable the organizations to offer more choice and quality of services offered to Alaska's underserved and low-income populations.
- $3 million, three-year PRI with the Colorado Health Foundation to provide low-interest loans for cash-strapped health care organizations due to Colorado's budget crunch so they can continue to serve people who rely on them.
- $4.8 million, three-year grant from The Robert Wood Johnson Foundation to continue expansion of the Green House Replication Initiative so that more people can age with dignity and joy. The grant will support outreach, training and tool development work to rapidly increase the availability of GREEN HOUSE® homes across the United States, solidify efforts of current adopters, and contribute successful practices to the long-term care field.
- $40,000 grant from the Hearst Foundation Inc. to expand the Village to Village Network tools, resources and exchange of expertise so that 175 more communities can establish and better manage their own Villages allowing nearly 20,000 people have more choices to age in their own homes with more independence.
- $7.5 million grant from JP Morgan Chase Foundation where Capital Impact will leverage nearly $6 for each dollar of investment for a total of $50 million to finance approximately 3,500 new school seats, all in high performing schools and low- to moderate-communities.
"Our community partners sparked and enabled these initiatives," said Terry Simonette, President and CEO of NCB Capital Impact. "Our mission is to support these communities to reach their highest potential at every stage of life, to provide choices that become building blocks or stepping stones for the future for older adults, kids, and families as a whole," Simonette continued.