Pastors and Faith Leaders - Please Sign The Petition And Join Us
In the support of creating a Faith-Based fund and a Faith-Based educational tool of how the faith institutions can successfully have a win-win-win working relationship with investors and developers utilizing your platforms for sustainable and measurable development in the communities you serve.
May 20, 2019
Dear Pastors and Faith leaders,
The National Faith-Based Empowerment Coalition Nonprofit works in Tandem with National Faith-Based Development Holdings with this new Opportunity Zone program legislation it is a positive development with the potential to create a source of equity funding for investments in low-income communities that will have lasting community and economic impact. However, left unchecked, these same market forces will most likely drive investments to lower risk/high return projects that have less positive community impact.
Specifically, without proactive efforts to link investments to high impact deals, the concern is that OZ Program will be used to Fund investments that would have occurred anyway, Fund investments in already gentrifying areas, Fund investments that do little to create jobs or benefit local residents, Fund investments that are not aligned with existing local community development plans along with the disadvantage local community development organizations and small businesses that cannot access QOZ funds.
NFBEC efforts are to see and ensure the promise and intent of the OZ program realized and it being a win-win-win for all, the investors, the residents of the targeted communities and the true purpose of the legislation. We as the faith community if organized and adequately supported, is well-positioned to serve as a primary vehicle to facilitate the measurable and sustainable development needed to truly transform these communities. As such, we are launching a comprehensive effort that includes:
- Launching a $100 Million Faith-Based Coalition Development Fund and or
- A bridge between Faith Institutions and the Investors/Developers OZ Fund
- Hosting local OZ Expos to increase community stakeholder awareness and engagement
- Forging strategic partnerships with private investors and developers committed to impact investing (local governments)
- Partnering with local faith institutions and other community stakeholders to unearth and structure marketable high impact projects
- Working with local leaders to identify and leverage other federal and state resources to lower the risk profile and jumpstart their priority economic development projects
- Getting local elected officials to partner with and support faith-based community development efforts
- Providing job and entrepreneurship training and technical and financial assistance to local residents to ensure human capital development
- Identifying Church properties for development
- Working with Treasury and Congress to establish a framework that provides guard rails that ensure QI have positive community impact and job creation without quashing investor appetite
Therefore, we are asking for your signature in the support of creating a Faith-Based fund and a Faith-Based educational tool of how the faith institutions can successfully have a win-win-win working relationship with investors and developers utilizing your platforms for sustainable and measurable development in the communities you serve. Therefore, we will be at your disposal to help you maximize services to the community that your faith institution is helping via the various projects, initiative that are provided. These signatures will be presented to the developers and investors that we have access to and who are willing to use the Faith-Based institutions and community platforms that you can access.
Rev. Zagery J. Oliver