Community investment presentation2012

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Community investment presentation2012

  1. 1. A COMMUNITY INVESTMENTFUND FOR GREATER VICTORIA Rupert Downing Executive DirectorCommunity Social Planning Council January 2012
  2. 2. POTENTIAL OF COMMUNITY INVESTMENT FUNDS• Nova Scotia and Quebec models raisemillions of dollars annually in investment incommunity enterprises, assets and affordablehousing• In other jurisdictions (e.g. US, UK) a majorvehicle for raising capital for communitysocial and economic development
  3. 3. EXAMPLES• Community Economic DevelopmentInvestment Funds in Nova Scotia• Fiducie de Economie Sociale Quebec•Social Innovation Bond Toronto• North Country Co-operativeDevelopment Fund (US)• Cooperative and Community Finance(UK)
  4. 4. CHARACTERISTICS• Non profit or cooperative organizationissues community bonds to raise capitalfrom investors• The bonds are tax incentived• They are either for a portfolio ofinvestments (real estate, enterprises) or asingle project• There is a guaranteed rate of return andwithdrawal date
  5. 5. POTENTIAL• At 2% of current annual RRSPcontributions in CRD could raise $8m/yr• Could raise capital to finance the gapfacing non profit, affordable market rentaland cooperative housing developers• Source of financing for locally ownedenterprises that contribute social,economic and environmental benefits tothe community
  6. 6. POTENTIAL• Vehicle for individuals, faith basedgroups, philanthropic and institutionalinvestors to invest in their community• Means to leverage CRD and Municipalfunds for housing, amenities• Investment vehicle for larger reserves ofcapital looking for bond rate of return andsocial responsibility certification
  7. 7. NEXT STEPS 2012/13• Establish Steering Committee• Recuit pro-bono advisors• Raise funds for costs of business plandevelopment• Negotiate with BC government on taxcredit regulation• Establish governance and legalstructure•Launch Fund and Bonds
  8. 8. YOU CAN• Review the reporthttp://www.communitycouncil.ca/pdf/2011-CSPC-Affordable-Housing-Report.pdf• Volunteer for the Steering Committeeor pro-bono advisory panel• Donate to the Community Councildesignated fund to make this happen
  9. 9. RESOURCESwww.communitycouncil.ca www.ccednet-rcdec.ca

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