NC Community Development Initiative
Financial Services - Raleigh, North Carolina, United States
NC Community Development Initiative Employees
NC Community Development Initiative Details
The N.C. Community Development Initiative leads North Carolina's collaborative community economic development effort, driving innovation, investment and action to create prosperous, sustainable communities. The Initiative and our lending arm, Initiative Capital, came together with the North Carolina Housing Coalition at the beginning of 2016 to form a powerful collaborative to support and facilitate transformation in the state's low-wealth communities. A diverse set of strategies, including policy development and advocacy, access to capital and providing leadership to the community economic development sector, we are already achieving results that demonstrate the potential of this collaborative. A model financing strategy with Wake County Habitat for Humanity, for example, will enable them to expand their reach to serve 20% more families in the coming year. Initiative Capital also made a $2.5 million dollar bridge loan to The Scrap Exchange in Durham to facilitate the purchase of an abandoned shopping center in an area that is undergoing rapid gentrification. Across the state, the Initiative is working with groups in rural areas such as Bertie County to provide needed resources and expertise. The Initiative's multi-pronged approach is enabling the Initiative to further its mission of creating just, prosperous, and sustainable communities across the state.
