The Initiative leads North Carolina’s collaborative community economic development effort, driving innovation, investment and action to create prosperous, sustainable communities.The Initiative and its lending subsidiary, Initiative Capital, catalyze community economic development through three key strategies: (1) Financial Investments – Making strategic investments that support the work of high-impact community organizations across North Carolina; (2) Innovation – Identifying new and sustainable strategies for promoting economic growth in the state’s poorest communities and strengthening the organizations that serve them; (3) Leadership Development – Connecting organizations with the resources, networks and training they need to serve their communities and training the next generation of sector leaders.One category of lending offered by Initiative Capital is loans to community organizations and mission-based nonprofits to help fund the acquisition and redevelopment of foreclosed residential properties. In addition to its traditional lending products, it offers loans through the federal Neighborhood Stabilization Program (NSP) to rehabilitate foreclosed properties that are sold at affordable prices to low-income individuals and families. NSP loans are revolving lines of credit that may be continually reinvested in local communities. Green building and energy efficiency are priorities for the Initiative’s NSP investments.
Tara Kenchen, President | Chief Executive Officer
5800 Faringdon Place
Raleigh, North Carolina 27609
Housing Partnership Network
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Boston, MA 02108
Phone: 617-720-1999 / Fax: 617-720-3939
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