LocalCode
Civic & Social Organization - Oakland, California, United States
LocalCode Employees
LocalCode Senior Management
LocalCode Details
LocalCode helps communities thrive across North America, reversing the negative spiral of declining Main Streets with locally-owned real estate and sustainable enterprises. LocalCode is a hybrid organization, comprised of the for-profit development company and a not-for-profit, LocalCode Academy. LocalCode redevelops main streets, urban neighborhoods, and commercial properties in low income communities. Most projects are in Opportunity Zones, providing significant tax benefits for investors with capital gains. The company collaborates with LocalCode Academy and leaders from the local community to build the foundation for a healthy regenerative local economy. The company structures the equity for long term ownership by the community. After the ten year window for tax benefits, a local community land trust has the right to buy controlling interest in the property at a fixed, affordable appreciation rate. This commitment to local ownership and wealth generation builds trust and inspires action in the local community, significantly reducing risk and enhancing project success.
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