Raza Development Fund Stories and Data

Raza Development Fund Stories

Colusa Indian Community Council (CICC) Healthcare

Colusa,
California

Grow America, LISC, TruFund

Development of two medical clinic operations in separate locations in rural Colusa County, California. The first is the rehabilitation of a former grocery store into the 17,000 square foot Valley Oak Specialty Clinic which will provide a variety of physical and mental healthcare services. The second is the 10,750 square foot Sycamore Pediatric Healthcare which will provide a full array of pediatric healthcare services.

Youth Orchestra of LA (YOLA) @ Inglewood

Inglewood,
California

Genesis LA Economic Growth Corporation, Raza Development Fund

FInancing for Los Angeles Philharmonic's Youth Orchestra Los Angeles (“YOLA”) program to rehabilitate and transform an existing 18,000 sq. ft. commercial building into a music education facility and community center for low-income youth from Inglewood and the City of Los Angeles. The project is located in the civic core of Downtown Inglewood in proximity to schools and along major public transit routes, which makes it accessible to youth living in other nearby areas of LA County. + The OD project is the acquisition and renovation of an existing 18,000 sq. ft. building into a new 25,000 sq. ft. music education venue for low-income youth from Inglewood and the City of Los Angeles. The project will serve 500 youth, ages 6-18, annually. It will become he HUB for YOLA’s programming for underprivileged youth across the region where students get free classical music instruction, free musical instruments and after school homework help.

The Actors Fund – Hollywood Arts Collective

Los Angeles,
California

Genesis LA Economic Growth Corporation

The project rehabilitated an existing 18,350 sq. ft. building along Hollywood Boulevard into below-market space for nonprofits supporting the region's arts community, including a career center, space for support services, gallery and performances spaces, and offices for nonprofit arts organizations. The project is part of a larger mixed-use site which has units at different affordability components.

One Santa Fe

Los Angeles,
California

Clearinghouse CDFI, Genesis LA Economic Growth Corporation

This project entailed the new construction of the commercial component of One Santa Fe, a mixed-use, transit-oriented development in the Arts District, a low-income community within Downtown Los Angeles. The project comprises 77,000 sq. ft. of commercial space supporting 438 rental residential units. The commercial component created 293 permanent jobs, 51% of which was held for low- to moderate-income individuals. It also generated 358 construction jobs. The project promotes sustainable growth in Los Angeles. Additionally, the project brings a grocery store and convenience retail to a low-income community that is under served in these areas.

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Raza Development Fund Fact Sheet

Testimonials

CDFIs have been essential vehicles for moving investment capital into communities that otherwise cannot access capital. We provide important technical assistance and financial support to grow businesses, finance projects, and revitalize communities thanks to investments from the CDFI Fund, which we then leverage with other private capital.

-Thomas De Simone, Genesis LA, Los Angeles, CA

CDFIs fill a critical void in funding the development of affordable housing. They provide below market interest rates, have flexible terms, and can respond to critical funding needs with more flexibility than a traditional bank/credit union.

-Linda Braunschweiger, Housing Trust Fund Ventura County, Ventura County, CA

[The CDFI Fund is an] incredibly important economic development agent that helps all small businesses across the country to grow, create jobs, become bankable and strengthen our economy.

-Allison Kelly, ICA Fund, Oakland, CA

Raza Development Fund Stories and Data