Community Finance
Deploy! | March 18, 2024
In Cleveland, stakeholders mobilize to deploy climate funds for community infrastructure
A few years ago, officials at the Cleveland and George Gund foundations were lamenting the lack of a state-wide green bank in the …
Muni Impact | March 11, 2024
To scale the IRA’s “green bank,” community lenders should engage muni finance markets
When the University of Virginia issued the first Build America Bond ($250 million) in April of 2009, it was just about three months …
Muni Impact | March 11, 2024
Scoring municipal bonds on racial equity and social impact
Municipal (muni) bond financing is as influential for communities as it might be invisible to many. It is the driving source of funding …
Community Finance | March 1, 2024
Deal spotlight: San Antonio’s ESTAR West targets $25 million for real estate fund
On San Antonio’s majority-Latino west side, ESTAR West is revitalizing underserved neighborhoods with mixed-use real estate and small business support. Entrepreneurs and Small …
Inclusive Economy | February 25, 2024
Can commercial corridors + broad ownership build community wealth without displacement?
ImpactAlpha, February 22 — The West Side of San Antonio is looking forward to a thriving corridor of successful small businesses, restored buildings …
Muni Impact | February 24, 2024
Maine rolls out $5 million in green bond series for resilient and sustainable buildings
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Muni Impact | February 15, 2024
How ‘community-benefit bonds’ can help scale mortgage assistance programs
Editor’s Note: Community Finance Brief is a weekly newsletter from Matt Posner of Court Street Group, occasionally syndicated on ImpactAlpha. Democratizing access to …
Muni Impact | February 6, 2024
Red state bans on ESG-aligned underwriters raise costs for muni issuers
ImpactAlpha – Feb. 6 – The state of Texas has banned Barclay’s from underwriting municipal bond deals in the state. The reason: The bank’s adherence …
Community Finance | January 31, 2024
How US community lenders are tapping impact capital to leverage federal investments
Over 95 million Americans live in low-to-moderate income communities across the US. These disadvantaged and financially underserved communities often suffer the most during …
Community Finance | January 24, 2024
LISC’s Michael Pugh on navigating legal challenges to community development finance (Q&A)
ImpactAlpha, January 24 — After 100 days at the Local Initiatives Support Corporation, Michael Pugh is getting down to business. At the top …
Muni Impact | January 16, 2024
As climate risk heats up, state and local governments may be on the hook
ImpactAlpha, Jan. 16 – It’s a climate conundrum. In recent years, Americans have been moving in droves to low-tax states like Florida, Texas …
Muni Impact | December 15, 2023
The arbitrage opportunity in high-impact municipal bonds (video)
ImpactAlpha, Dec. 15 – The $4 trillion muni market is so big that small movements in the pricing of bonds can mean shifts of …
Muni Impact | December 14, 2023
San Diego County eyes $166 million green bond for public health facilities
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Muni Impact | December 11, 2023
Muni investors see through mispriced risks to find alpha and impact
ImpactAlpha, Dec. 11 – Lower risk: Bonds issued by high-performing school districts that serve low-income populations. Higher risk: Issuances that fund entertainment complexes that …
Muni Impact | December 6, 2023
From Atlanta to St. Paul, bond issuers are steering muni markets toward racial equity
ImpactAlpha, Dec. 6 – When the city of Atlanta issued $370 million of what it called “social bonds” in December 2022, the sale’s …
Muni Impact | December 6, 2023
Lessons learned from Milwaukee’s flirtation with bankruptcy
Editor’s Note: Community Finance Brief is a weekly newsletter from Matt Posner of Court Street Group, now syndicated on ImpactAlpha. When a town, …
Community Finance | November 28, 2023
Mission Driven Bank Fund secures $110 million for local lenders in low-income communities
ImpactAlpha, November 28 — The Mission Driven Bank Fund will back a pipeline of over 300 FDIC-insured minority depository institutions, or MDIs, and …
Impact Muni Bonds | November 17, 2023
A $286 million bond seeks to grow north Texas out of its traffic jams
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Impact Investing | November 9, 2023
Impact products for retail investors prove resilient in a high rate environment
ImpactAlpha. Nov 9 – From real estate to car loans, there are few areas of American life where the Federal Reserve’s “higher-for-longer” interest …
Muni Impact | November 9, 2023
Southern California utility issues $162 million green bond to finance renewable power
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Dealflow | November 8, 2023
Candide’s Afterglow Climate Justice Fund secures $36 million to lend in frontline communities
ImpactAlpha, November 8 — Low-income communities that often bear the brunt of climate change also hold the key to many climate solutions. Candide …
Locavesting | November 2, 2023
Colorado foundations back Social Finance’s fund to upskill local workers
ImpactAlpha, November 2 — Gary Community Ventures and the Colorado Health, Colorado Gives and Walton Family foundations and other local backers have committed …
Deploy! | October 26, 2023
The US is finally getting a national green bank. Here’s what to expect.
ImpactAlpha, Oct. 26 – Hurry up and wait. Lenders, community groups and consortiums of nonprofits that met this month’s deadline to apply to …
Impact Voices | October 19, 2023
How the IRA’s ‘direct pay’ provision is driving community ownership and resilience
ImpactAlpha, Oct. 19 – Just a year after its passage, the Inflation Reduction Act has helped kickstart new battery and EV manufacturing plants …
Muni Impact | October 18, 2023
Chicago tries a twist on tax increment financing to extend transport to low-income neighborhoods
ImpactAlpha, Oct. 18 – A new approach to a well-worn financing mechanism is attracting attention to Chicago. The city is employing a new …
Muni Impact | October 16, 2023
Texas issues $169 million water bond to future-proof the state against drought
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Muni Impact | October 11, 2023
Mispriced risks in bond markets mean Black communities pay more for climate resilience
ImpactAlpha, Oct. 11 – A community’s racial makeup, irrespective of economic variables, affects its cost of capital in the $4 trillion US municipal bond …
Impact Muni Bonds | September 26, 2023
San Diego school bond targets green improvements and equitable access
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Climate Finance | September 21, 2023
In the Climate Week mix: Policy tailwinds, green banks, talent pipeline
ImpactAlpha, September 21 — Hard choices have to be made… about which of the hundreds of Climate Week NYC events to attend. As …
Dealflow | September 18, 2023
$171 million bond for affordable student housing in Hawaii
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Muni Impact | September 11, 2023
Michigan issues $1.2 billion in bonds to rebuild roads and bridges
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Impact Muni Bonds | August 29, 2023
Wisconsin agency issues $185 million social bond for affordable homeownership
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post or on …
Inclusive Economy | August 24, 2023
In Maui, investing in future resilience and community stewardship after the fires
ImpactAlpha, Aug. 24 – From firefighting resources to land use planning to water rights to electric grid maintenance to community finance, this month’s …
Gender Smart | August 21, 2023
With gender bonds, Pro Mujer puts Argentina’s capital markets to work for female entrepreneurs
ImpactAlpha, Aug. 21 – The amounts are small, but the implications could be profound. When micro lender Pro Mujer earlier this year distributed …
Impact Muni Bonds | August 16, 2023
Long Island’s $400 million green bond to finance climate-resilient upgrades to the grid
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Dealflow | August 14, 2023
Truist adds $15 million for naturally occurring affordable housing in Charlotte
ImpactAlpha, August 14 — The Housing Impact Fund, managed by Ascent Housing, has raised $67 million to create and preserve 1,200 units of …
Impact Muni Bonds | August 10, 2023
$57 million green bond in San Francisco to fund water sustainability
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Green Infrastructure | August 8, 2023
Hybar snags $700 million in debt and equity for recycled steel plant in Arkansas
ImpactAlpha, Aug 8 – Electric vehicle, battery and chip factories are rising in the US south and midwest. Hybar’s planned mill in Osceola, …
Community Finance | July 25, 2023
New York backs small-business lending with a follow-on fund for CDFIs
ImpactAlpha, July 25 – In the depths of the Covid pandemic, New York, California and a coalition of southern states created loan funds …
Muni Impact | July 20, 2023
Social returns on investments in HBCUs rise as affirmative action recedes
ImpactAlpha, July 20 – Historically Black colleges and universities may represent the ultimate social impact investment. But instead of enjoying a social-benefit premium, many …
Ownership Economy | July 12, 2023
Paths to inclusive wealth run through residential and commercial real estate
ImpactAlpha, July 12 — A “new wealth agenda” aims to increase by 10-fold the wealth of U.S. households of color and those in …
Impact Muni Bonds | July 11, 2023
$307 million sustainability bond to rehabilitate and retrofit affordable housing in New York
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …
Muni Impact | June 29, 2023
Cincinnati ‘jobs bond’ aims to fuel manufacturing boom in the Midwest
If you build it they will come. An innovative bond issuance will help a public agency in the city of Cincinnati acquire and …
Return on Inclusion | June 28, 2023
Chicago TREND Real Estate Fund raises $10 million to create real estate ownership for Black residents
ImpactAlpha, June 28 — Chicago Trend is looking to raise $50 million to purchase and renovate blighted neighborhood shopping centers in majority-Black neighborhoods. …
Impact Muni Bonds | June 27, 2023
$1 billion in green bonds to reduce the cost of clean energy in Southern California
Editor’s note: ImpactAlpha has partnered with HIP Investor to highlight upcoming bond issues with social and/or environmental significance. Disclaimer: Nothing in this post …