The fund seeks to level the playing field by making it easier for Black and brown developers to gain access to capital.

The city of Philadelphia is launching a loan fund aimed at increasing access to capital for affordable housing projects built by Black and brown developers, reports Taylor Allen for WHYY. "Seeded with roughly $11 million in city funds, the Philadelphia Accelerator Fund is a public-private partnership designed to provide flexible funds to Black and brown developers facing systemic barriers to traditional bank financing."
The program is based on a similar initiative in San Francisco that targets nonprofit affordable housing developers. "City officials are agnostic about the kind of housing the fund will support — as long as some project units target below-market-rate customers and need non-traditional financing. Developers planning for-sale homes, multifamily rentals and subsidized housing are all welcome to apply." The fund will also "provide advisory services to help companies apply for the loan and offer advisors to help them navigate the process."
"Mo Rushdy, chairman of the board for the Fund and the managing partner at the real estate development firm The Riverwards Group, said he sees this as a way to make building affordable housing more viable for developers who work in the private sector." Developer Anthony Fullard says he hopes the program "can help him do more ambitious projects and encourage other Black developers to do the same."
FULL STORY: Philly to launch loan fund for Black and brown affordable housing developers

Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

The 120 Year Old Tiny Home Villages That Sheltered San Francisco’s Earthquake Refugees
More than a century ago, San Francisco mobilized to house thousands of residents displaced by the 1906 earthquake. Could their strategy offer a model for the present?

LA’s Tree Emergency Goes Beyond Vandalism
After a vandal destroyed dozens of downtown LA trees, Mayor Karen Bass vowed to replace them. Days later, she slashed the city’s tree budget.

Sacramento Leads Nation With Bus-Mounted Bike Lane Enforcement Cameras
The city is the first to use its bus-mounted traffic enforcement system to cite drivers who park or drive in bike lanes.

Seattle Voters Approve Social Housing Referendum
Voters approved a corporate tax to fund the city’s housing authority despite an opposition campaign funded by Amazon and Microsoft.
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