The Yampa Valley Community Foundation recently initiated our new Impact Investment Program with a $2.5 million loan to the Craig Housing Authority (CHA), enabling the development of a 20 unit for-sale affordable housing project on 8th Street in Craig, Colorado.
YVCF's involvement in this project was an opportunity for the Foundation to pilot an impact investment after concluding a nearly year-long exploration and education process. Local impact investments are those made to nonprofits or government agencies with the intention of generating measurable community benefit alongside modest financial returns.
Peter Brixius, Craig City Manager and Executive Director of the Craig Housing Authority praised the relationship: “YVCF quickly assembled a team of experts from insurance, accounting and pro forma development. Not only did YVCF come through with needed, low-cost funding for this vital project, but also became a valuable partner in the planning and development process."
The Foundation is seeking applications for additional impact investment opportunities specific to affordable housing as well as for general support for nonprofits in Routt and Moffat Counties.
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