Please complete the following application by June 19th, 2023 (12:00pm EST) to be considered for a one (1) year grant of up to $50,000 from Capital Impact Partners and National Cooperative Bank. This grant initiative will fund organizations that are utilizing the cooperative model to develop innovative programs or strategies in communities of color and/or communities that experience systemic disinvestment. We want to amplify innovative models that can be replicated locally, regionally or nationally. The award is intended to support early-stage projects and provide catalytic capital that will attract other funders. It is important that projects are led or informed by the community and culturally relevant. Funding is awarded for specific projects in communities of color and/or historically marginalized communities and not for general operating funds for the organization.
The uses of funding include, but are not limited to:
- Financial projections
- Project scope and design
- Feasibility analysis
- Operational and staff costs
- Training development
- Leadership and professional development
- Conferences and meeting
- Tools and technologies
- Outreach and marketing
- Contractors or consultants
The top applicants will be asked to provide additional documentation to the review committee within 21 days of notification including:
- W-9 dated within the last 12 months
- Articles of Incorporation, Articles of Organization, or similar formation documentation appropriate to entity type
- Bylaws, Operating Agreement, or similar governing documentation appropriate to entity type
- 501(c)(3) Determination Letter (if applicable)
- Most recent financial statement (audited if available)
- List of current funders
For more information, you are invited to attend one of the following webinars:
June 1st, 2023 2:00 PM EST Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_oSQB5PRBSmOZDqhWEy5S7A
June 13, 2023 1:00 PM EST Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_dpK7uvkUQiyQ92tLBkHhbQ
Final determination of awardees and grant amounts will be made by August 31st, 2023. Inquires may be directed to apowers@capitalimpact.org.
Capital Impact Partners is excited to announce that the application is now open for the Detroit Equitable Development Initiative (EDI) Learning Series through July 14, 2023. We plan to accept up to 15-20 participants. EDI is structured as a platform to train, boost capacity and the confidence of emerging developers of color to deliver real estate development projects in their own communities. The program focuses on the current real estate development environment in Detroit, and provides opportunities to developers through an eight-month learning series.
Join our upcoming informational webinar:
Wednesday, June 7th 12:00 - 1:30 p.m. EST - Register Here
Tuesday, June 13th 2:00 - 3:00 p.m. EST - Register Here
Join our upcoming application office hours:
Friday, June 16th 10:00 - 11:00 a.m. EST - Register Here
Monday, June 26th 2:00 - 3:00 p.m. EST - Register Here
Key Documents
Key Dates
- Application is open June 5th through July 14, 2023 5:00 p.m. EST. No late applications will be accepted.
- Interviews for semi-finalists will be held in late-July/early-August
- Notification of acceptance will be expected in late-August.
- The tentative training schedule will be held Thursday afternoons between 12:00 - 5:00 p.m. EST beginning October 5th through the end of May 2024. Training dates are subject to change.
- Training is planned to be in-person for a majority of the learning series, incorporating up to three (3) events/network-building opportunities.
Eligibility Successful candidates for the program will be selected based on the following criteria:
- Identify as Black, Indigenous, and/or Person of Color (BIPOC) and/or a racial or ethnic minority.
- Demonstrate experience as a small-scale developer (either for-profit or nonprofit organizations) who is seeking to further their experience developing affordable housing and/or growing their portfolio. As this is not an introductory program, candidates are expected to have some direct real estate development experience.
- Live in or have a strong connection to Detroit, MI (including Hamtramck and Highland Park).
- Demonstrate a commitment to community development and neighborhood reinvestment in Detroit through work on tangible real estate development project(s).
- Commit to attend mostly in-person training on Thursday afternoons (between 12:00 - 5:00 p.m. EST) during the months of October 2023 - May 2024 for up to five hours per week.
- Commit to an additional hours (2-4) weekly for assignments, advisor meetings, etc.
- Demonstrate interest in responding to Requests for Proposals (RFPs) for real estate development opportunities, with or without a development partner, within four - six months of completion of the program.
The program aims to focus on housing / commercial development firms that are owned by women, people of color, and/or communities who have been historically excluded or overlooked in Detroit (including Hamtramck and Highland Park).
Program Background
Headquartered in the Washington, D.C. metro area, and with a local office in Detroit, MI, Capital Impact Partners has been supporting communities for over 40 years through capital investments, programs, policy work, and partnerships. As a community development financial institution that invests in community, multifamily, and mixed-use development nationally, we are seeking to connect our goals of neighborhood revitalization and community wealth-building; this program is one way of making that connection. To learn more about Capital Impact Partners and our programs visit https://www.capitalimpact.org/programs/.
Contact Information Please reach out to Rieanna Stewart (rstewart@capitalimpact.org), Detroit Training Manager, with questions about the program and application process. Support@submittable.com can help with application software issues.