Case Study
University Neighborhoods Development Corporation works to build and enrich campus and community environment by investing in surrounding neighborhoods. UNDC is a partnership between University of Memphis, University District Business Alliance, University District, Inc., Shelby County Division of Planning and Development, and Economic Development Growth Engine. Opportunity zones are one of their main initiatives. Their Work Local program is designed to improve the community through job access and blight reduction by providing job-seeking panhandlers with a day’s wages and a meal to clean-up sites, where they work to reduce urban blight.
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Case Study
The Resource Amplification & Management Program within Seattle University lives in its Albers School of Business and Economics and serves local underserved businesses. A team of faculty, staff and students works with the particular business for a year or more in order to encourage growth through business coaching, resource connections, business planning, technical support, and project management. The university has built connections with local neighborhoods in Seattle with more than 2,000 hours of coaching over 150 businesses since 2016.
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Case Study
Western Colorado University’s ICELab is a “community organization with a keen interest in mountain town sustainability and economic diversity in rural Western Colorado.” The lab provides startups and growing businesses affordable coworking/office space as well as an Incubator Program.
In addition to serving as a space for community engagement and business incubation, ICELab is a nonprofit intermediary in applying for and deploying Opportunity Zone Mini Grants from the Colorado Office of Economic Development and International Trade (OEDIT). Recently, OEDIT awarded ICELab with two grants on behalf of two private companies using Opportunity Zones for their community-oriented projects. One project is a sustainable hotel and the other a workforce housing development called Gunnison Rising sponsored by Williford LLC in the land use and affordable housing space.
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Case Study
In 2004, La Salle University’s Office of Community and Economic Development worked with leadership and community members to craft a realistic plan to improve the quality of life for residents around the campus. The University’s findings led them to The Reinvestment Fund (TRF), a Philadelphia-based CDFI and leader in the financing of neighborhood revitalization, affordable housing, community facilities, supermarkets, and commercial real estate. With the support of TRF, La Salle University began to develop a redevelopment strategy for its investment in the adjacent neighborhoods. The keystone of the plan was a 80,000 square foot retail center, The Shoppes at La Salle, located adjacent to the campus. The Shoppes at La Salle was anchored by a 50,000 SF Fresh Grocer, the first full-service supermarket built in the area in over 40 years. TRF facilitated $14 million in financing for the supermarket through a combination of grants and loans from Pennsylvania’s Fresh Food Financing Initiative and Pennsylvania’s Redevelopment Agency, New Markets Tax Credit financing, the American Recovery and Investment Act financing, and other sources of state loan funds and leveraged financing. The Fresh Grocer opened its doors in 2009, creating more than 250 jobs, mainly filled by local residents. The store also increased access to affordable, fresh food for the residents in the underserved neighborhoods around La Salle’s campus. In addition, the construction of the store incorporated state-of-the-art energy refrigeration and energy management systems that reduce energy consumption and contribute to enhanced financial performance to ensure sustainable operations of the store.