Rebuild Communities Initiative
Reclaim, revitalize and rebuild.
Rebuild Communities Initiative Action Plan
Reclaim, revitalize and rebuild lives and communities.
Communities Nationwide have been impacted by the oscillating housing market and economic impacts and are still struggling to recover. These communities, and distressed homeowners, families and children are threatened by foreclosure, higher vacancy rates, deferred property maintenance on occupied homes, and distressed real estate sales that outpace regular transactions. These properties are home to many of our working class and multicultural families. Due to the low-value or complicating issues, foreclosure is not the best option for these assets, and families, the better option is to help homeowners avoid foreclosure and retain ownership. However, properties are often vacant, so we identify and pursue market-relevant solutions for these to support community revitalization and stabilization.
The mission of the Rebuild Communities Initiative is to reclaim and revitalize these properties, and communities, by creating the opportunity for families to retain or reoccupy these homes, improve lives and strengthen communities through partnerships with our member partners, organizations, government, and philanthropic institutions.
Rebuild Communities Initiative Priorities:
Assist individuals with a pathway to financial stable and sustainable home ownership.
Our community based team will include local HUD certified, nonprofit housing counseling organizations that can meet one on one with homeowners and other occupants. The counselors will be able to offer free advice and access to additional resources.
Assist communities rebuild value and stability by addressing vacant properties
These properties quickly drain the vitality, value and safety of any community. Left unattended, vacant properties promote a danger to local residents and negatively impact nearby home values. To address properties that are currently vacant or soon to be vacant, we work with public, private and nonprofit partners, local agencies, and organizations to address and revitalize problem properties in the community.
Acquire distressed properties and revitalize
The Rebuild Communities Initiative is a non-profit organization dedicated to collaborating with local partners and national stakeholders to ensure communities have access to community level solutions to return distressed properties to a productive use, ranging from revitalization, rehabilitation for owners or renters to alternative use of vacant properties, all to accelerate community revitalization, utilizing a CDFI RCI Capital Fund established to provide the mechanism.
RCI Capital Fund
The RCI Capital Fund and community focused CDFI lenders, community development financial institutions are private financial institutions that are 100% dedicated to delivering responsible specialized financing for community stabilization lending, affordable lending to assist low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream. Through its participating lenders, philanthropist, private and non-profits, the RCI Capital Fund promotes specialized for the acquisition, revitalization and rehabilitation of distressed, vacant, abandoned or foreclosed single-family properties.
Participating lenders follow the Fund’s guidelines to originate acceptable methods to local borrowers for the acquisition and rehabilitation of single-family housing.
RCI Capital Fund Partners
Eligible partners must:
Commit to revitalizing communities through property acquisition and rehabitation
Provide opportunities for quality affordable home ownership or rental opportunities
Meet Eligibility and capability requirements, including organization type and permissible funds
Adhere to standards that define the geographic area(s) in which properties may be acquired
Follow requirements for property selection, holding, and end disposition
Reclaiming Revitalization and Rebuilding Guidelines
In addition to requiring local housing providers to meet the requirements above, RCI will be deploying a successful community stabilization program adhering to:
An established partnership and relationship adhering to guidelines between public, private and nonprofit partners with roles, accountability and results clearly defined.
Focus on defined areas so that acquisition activities can be concentrated, providing accountable impact.
Acquisition and revitalization of properties with related social investments and improvements to community.
Organizations with the ability to assess, acquire, manage, revitalize and convey properties at scale.
Maintain sufficient resources, public and private sources of capital, to conduct successful revitalization.
In order to make a sustainable impact in communities, RCI need access to the problematic, abandoned and low-value properties in these communities. RCI establishes relationships with financial institutions, servicers and other entities that manage or hold these properties and assets, and whose participation is vital to successful community efforts, to provide that access.
They must adopt and adhere to the mission of the Rebuild Communities Initiative to reclaim and revitalize these properties and communities by creating opportunities for families to retain or reoccupy these homes, improve lives and strengthen communities through partnerships with our member partners, organizations, government, and philanthropic institutions.
Primary RCI goals:
To increase the number of families able to stay in their current homes through loan modifications.
To match distressed properties with responsible organizations for property renovation and resale.
To assist affected communities in revitalization.
RCI provides a collaborative group who are involved in every transaction, providing guidance to housing providers and ensuring that the process works efficiently utilizing Federal, State and local programs.
The housing providers have a set time frame to review and inspect the properties, develop a revitalization plan, conduct a valuation, and indicate that they will pursue the acquisition of the home. If there is no housing provider interested in a property, we will pursue methods to revitalize.
RCI Capital Fund
Providing specialized funding, financing for community revitalization the RCI Capital Fund is the financing mechanism to accomplish our goal. Through a network of participating community development financial institutions (CDFIs) and other community-based lenders, it provides financing for the acquisition and revitalization of distressed properties.
For community-based organizations, the RCI Capital Fund can help assist to finance the acquisition and revitalization of distressed properties, maximizing the impact of its community rebuilding efforts.
How the RCI Capital Fund Works
Access Capital, Access Financing, Acquire More Homes, Achieve Community Impact.
The RCI Capital Fund is made possible from our public, private and nonprofit partners that allows the us to participate in funding and financing made available by CDFIs and other community focused organizations.
With support from the RCI Capital Fund, participating lenders can in turn offer community-based organizations flexible financing for the acquisition and rehabilitation of distressed single-family homes.
Borrowers can use options provided as a primary source of financing or to complement other existing funding. Financing from the Rebuild Communities Initiative can dramatically increase resources available to borrowers, increasing the number of properties acquired, revitalized and returned to productive use in communities.
I invite you to visit “RebuildCommunitiesInitiative.org” and let us know what we can do for you.
We can’t solve homelessness, together we can prevent it