The Change Capital Fund is requesting proposals from community-based organizations creating affordable housing, community facilities and/or economic development projects/businesses that will be owned by the community.
Donor Name: Change Capital Fund
State: New York
City: New York City
Type of Grant: Grant
Deadline: 09/14/2022
Size of the Grant: $150,000
Grant Duration: up to four Years
Details:
In many of New York City’s lowest income neighborhoods, residents are working together to organize, inventory potential development sites, and acquire and develop property for community benefit and ownership. Change Capital Fund (CCF) seeks to build momentum for these efforts by providing funding to selected nonprofit, community-based organizations leading efforts to control and operate community assets.
CCF Goals
Change Capital Fund’s vision is that organizations in low-income and historically disinvested communities shape their communities’ future by controlling the development of real estate assets.
Through funding such organizations, Change Capital Fund seeks to:
- Promote Community-Led Models: CCF will support organizations working to develop projects (including projects submitted for this proposal) as determined and directed by community members through organizing and community-engaged planning. These projects will benefit individual, low-income community members and the community as a whole.
- Build the Capacity of the Field: CCF will invest in organizations working to determine their community’s future through organizing for collective ownership and to strengthen collective ownership as a viable and replicable alternative to the current real estate market.
- Spur Investment and Systems Change: CCF seeks to help raise the profile for collective ownership and to help generate additional resources to proliferate successful models of community ownership.
- Advance Racial Equity: CCF will prioritize organizations directed by BIPOC leaders which center racial equity in their decision-making and work to improve housing, social and/or economic outcomes for their communities.
- Contribute to Environmental Health: CCF will favor projects which advance environmental justice and are designed in consideration of the urgent environmental crisis.
- Learn: CCF plans to share information with funders, grantees and other stakeholders to increase learning about community ownership.
Funding Information
CCF anticipates providing grants of up to $150,000 per year over a period of four years.
Eligibility Criteria
- Eligible grantees: CCF will select among applicant organizations in NYC seeking to organize and to develop projects directed by, to benefit, and, ultimately, to be owned by the “community,” as further defined below. Applicants must meet the following threshold criteria:
- Nonprofit: 501(c)(3) organizations OR identified nonprofit fiscal sponsor.
- Community-based: Based in and organizing with a community that may be defined by geography, culture, and/or mission-alignment and which is comprised of and designed to benefit low- and moderate-income people (primarily households earning <80% of AMI).
- Community-driven: Highly engaged and interactive with the identified community members, who are directing the proposed project.
- Project driven: Has identified or plans to identify one or more sites for the purpose of creating one or more community-led, community-purpose projects to be owned by the community.
CCF will prioritize organizations that emerge from and are led by BIPOC communities and communities that have been historically disinvested, i.e., by redlining, to build the capacity of these organizations to meet self-determined needs.
Eligible Projects
- Eligible projects will be directed by the community for the benefit and ownership of the community. CCF will prioritize selection of proposed projects that are more likely to be fully realized or in development by the end of CCF’s four-year cycle.
- Projects may include:
- Deeply & permanently affordable housing
- Community facility
- Community economic development projects seeking to acquire land and/or buildings for social purpose businesses, incubators, worker coops, community farming, food hubs)
- Mixed use projects.
For more information, visit CCF.
