Transitioning from a retreat at the beach is never easy. Yet though the ocean was nowhere in sight, community development leaders traveled from across the state to the Durham Marriott on January 29th and 30th for the Initiative’s annual Winter Retreat.
Building on the 2006 Fall Retreat, a continued emphasis was placed on sustainability and revenue generation through social enterprise. The impact of this new direction was felt during annual contract negations, where our grantees fine tuned their 2007 goals and set their sights on the year ahead. For the first time ever, the Initiative awarded 7 working capital grants, specifically designed to help our highest performing CDCs implement their long-term sustainability strategies. These allocations set the course for the next phase of the Initiative’s evolution.
On the second day of the retreat, the focus was shifted onto Initiative Capital and the $11 million of new loan funds. A number of bank representatives joined the group and shared their excitement about |
the landmark syndication. In addition, Initiative Capital unveiled its plans to set new standards for affordable housing; by combining steel framing, through our partner Carolina Steel Construction, green technology and down payment assistance, we envision a home that is sturdier, cleaner and most importantly affordable.
“This project is a continuation of our desire to bring innovative products and services to our partner CDCs and to the industry as a whole,” explains Richard Fuqua, Initiative VP of Commercial Development. “We engaged Innovative Design, located in Raleigh, to develop three different affordable housing designs that incorporate steel framing and energy-efficient technologies that will provide long-term cost savings to the buyer (e.g., lower energy bills, reduced insurance premiums, etc.) while taking advantage of the tax benefits that are available in the near-term.” By embracing a triple bottom line approach to community economic development, the Initiative is once again raising the bar. |
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And to top it all, the retreat was highlighted by a special performance by Campaign4Change, a local anti-gang, anti-drug, anti-violence production. Consisting primarily of former gang-members, C4C educates young people about the grim reality of gang life through hip-hop music, video, dance, poetry, demonstrations and theatre. The show is truly an eye-opening experience.
C4C is in partnership with Durham Mayor Bill Bell and Chief of Police Steven Chalmers to curtail violence and crime in the city. This group demonstrates the type of outside-the-box thinking that we at the Initiative strive for every day.
For more information, visit C4C on the web:
www.c4c4life.com
The 2007 Winter Grantee Retreat featured a mixture of familiar faces and special guests.
Top Left: Richard Fuqua presents the Initiative’s vision for the future of affordable housing.
Above: Durham Police Chief Steve Chalmers introduces Campaign4Change, an anti-gang, anti-violence, anti-drug production out of Durham.
Left: Tim Jackson, a.k.a. Joe Crack, delivers a powerful poetic monologue as part of the Campain4Change performance.
Far Left: Margaret Ellis of Gateway shares her thoughts and energy with the group.
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