Sacramento Valley Fund
In
2000, Nehemiah Community Reinvestment
Fund™ began developing the Sacramento
Valley Fund to combat the
unintended effects of growth and
to improve the economic competitiveness
and overall quality of life in
targeted communities within the
Sacramento Valley. The goal of
the Fund is to make millions of
dollars of real estate investment
in traditionally overlooked communities.
The Fund will invest in the development
of high
quality, urban scale, mixed use
and mixed-income housing, commercial,
and industrial projects.
Areas targeted for investment are
the low and moderate income neighborhoods of the counties of
the
region - El Dorado, Placer,
Sacramento, Sutter, Yolo, and Yuba-as well as the cities Lodi,
Stockton and Modesto. As the Sacramento Valley Fund begins
investing dollars in designated developments, renovations, and
leasing
upgrades, market value and economic activity within these targeted
neighborhoods is expected to increase dramatically.
Pacific
Coast Capital Partners LLC has been selected to manage
the Fund. Their goal is to provide "double" bottom
line results - to promote economic prosperity while generating
favorable rates of financial return for the Fund investors. Genesis L.A. Real Estate
Fund, LLC
Genesis L.A. was created
in 1999 by Mayor of Los Angeles Richard Riordan to provide innovative
solutions to the challenges of job creation and land development
in Los Angeles. Through the Genesis L.A. Real Estate
Fund, this groundbreaking economic initiative targets blighted
areas in
the hopes of renovating
them into attractive business locations, thus combating high
unemployment and poverty.
In March 2000, NCRF invested $5 million
within the Genesis L.A. Real Estate Fund, serving as the only
non-profit corporation
to contribute to the project. In 2000, investment in the real
estate
fund closed at $81 million.
In a city where little development
space is available, Genesis L.A.'s approach to beautifying
what already exists continues
to serve as an exemplary approach to community betterment. |
