Upload
zain-barcroft
View
215
Download
0
Tags:
Embed Size (px)
Citation preview
BUILDING COMMUNITY WEALTH TOTRANSFORM CLEVELAND AND CHANGE LIVES
GREATER UNIVERSITY CIRCLE INITIATIVECREATING CLEVELAND’S 21ST CENTURY COMMUNITY
Create Jobs for the Underemployed
Generate Wealth for Low-Income Residents
Stabilize Neighborhoods
GREATER UNIVERSITY CIRCLE “New Geography of Collaboration”
WADE PARK / HERITAGE LANE
EASTERN HOUGH/UPPER CHESTER
EASTERN FAIRFAX
BUCKEYE / SHAKERST. LUKE’S POINT
EAST CLEVELAND
ClevelandClinic
VAHospital
EA
ST 7
9th S
TR
EET
CIT
Y L
INE
CIT
Y L
INE
SUPERIOR AVENUE
BUCKEYE / WOODLAND
LITTLE ITALY
OUR STRATEGY
1. Focus anchor institution purchasing locally
2. Create new community-based businesses
3. Make it GREEN
4. Ensure financing to move to scale
INITIAL OPPORTUNITIES
Planning & Development • Institutional Records Retention • Home Care• Succession planning towards employee ownership• Light manufacturing
Launching in 2009-2010 1. Evergreen Cooperative
Laundry2. Ohio Cooperative Solar3. Community Voice (newspaper)4. Green City Growers
GOALS• Demonstrate feasibility of developing start-up cooperative linked to purchasing needs of
GUC anchors• Greenest commercial, industrial-scale laundry in NE Ohio• Hire 50 GUC residents - who will become Coop owners• Living wage salary; benefits; asset accumulation through equity ownership
PROGRESS
• Launch: July 2009; first employees now hired; build-out complete; equipment installed• 60% of commitments/contracts towards break-even in place• Management: Operations manager ran Akron General Laundry; CEO with 20 years of
employee ownership experience in steel industry • Secured $5.8 million of financing: $1.5 M HUD/ City, $1.8 M New Markets, $750,000
Cleveland Foundation; $1.5 M from 2 banks
Concept: – Cooperative for-profit enterprise– Based in neighborhoods around University Circle (inner-city Cleveland)– Owned/operated by local residents– Business installs/owns PV projects– Initially serving large institutional customers in nearby area (4MW in 5 years)
Outcomes:– Training and employment opportunities for low-income citizens– Wealth creation for local residents– Creation of installation capabilities to meet state-wide solar requirements– First installations this summer
Ohio Cooperative Solar
• Year-round hydroponic vegetable greenhouse in heart of downtown Cleveland
• 14 acre facility; 5 acres under “glass”
• Provide produce to large anchors and other institutions; > 800,000 heads of lettuce a year per acre
• Energy efficient and renewable energy sources
• Employ 40+ neighborhood residents as coop owners
• Become a major player in regional food distribution network
Green City Cooperative Growers
COMMERCIALFOOD PRODUCTION GREENHOUSE
LAND TRUST
PLANNING FOR SUCCESS
PLANNING FOR SUCCESS
Hold up to 20% of Land for Job Creation
Hold up to 20% of Land for Job Creation
And Economic Development
And Economic Development
EVERGREEN CRITERIA
• Business plan that projects profitability• Hires majority of employees from GUC
neighborhoods• Located in or nearby GUC neighborhoods• Matched to procurement needs of anchors• Pays a “living wage”• Green• Builds toward 100% employee ownership• Contributes % of profits to Cooperative
Development Fund
• Create new jobs for neighborhood residents• Anchor productive capital within poor
neighborhoods• Promote asset accumulation for low- and
moderate-income residents• Build viable, locally-owned economic enterprises
that can help stabilize the neighborhoods • Ensure income diversity and permanent housing
affordability
GOALS
COOPERATIVE DEVELOPMENT FUND
EVERGREENFUND
COOPERATIVELAUNDRY
COOPERATIVESOLAR COOPERATIVE
AGRICULTURE
FUTURE COOP
FUTURE COOP
FUTURE COOP
KEYS TO SUCCESS
• Convener/catalyst with stature and resources• Community Wealth Building Roundtable to create a
shared vision among key stakeholders• Buy-in from the anchors and City Hall• Deep-dive interviews and survey of anchor needs• Strategy tailored to local needs/opportunities • Multi-faceted implementation team with necessary
expertise (both local and national)• Multi-year commitment• Leverage grant/PRI funding to access additional sources
(NMTC, EQ2, state simulus loans, HUD108)
Our Team
• The Cleveland Foundation and other funders (local and national)
• The Democracy Collaborative• Ohio Employee Ownership Center• Towards Employment• Hudson Consulting Group• National experts (solar, hydroponics, land trust, etc.)• Entrepreneurs for each business• City Hall (Dept. of Economic Development)• Anchor institutions (“eds and meds”)• Community-based organizations (CDCs, nonprofits)