The Development Fund develops financing programs to support affordable housing and related community development activities in disadvantaged communities. These community development financing entities generally provide equity or direct longer term debt financing, or complement other funding sources that promote community building and revitalization efforts. Our programs enable financial institutions and corporations to pool their resources to reduce risks while providing reasonable rates of return prudently. These programs are also successful and practical investment mechanisms for financial institutions to address unmet community needs and have helped to achieve Community Reinvestment Act and other investment imperatives.
The Development Fund's role is to provide expertise in developing programs that become financially self sustaining and self governing. We typically manage and facilitate a collaborative planning process among stakeholders in the private, public, and nonprofit sectors to design a shared community investment vehicle. We have the ability to attract private sector capital to meet community needs and coordinate among relevant regulatory agencies. We organize initial program marketing and outreach and provide professional counseling and technical assistance to the entities. To date, The Development Fund has created fourteen such innovative community development financing organizations in several different program areas.