Increasing Investment in Affordable Housing, Climate Resilience, and Small Business in Underserved Communities
Skip to main content
Robert Wood Johnson Foundation
  • Our Vision
    • Our Vision Overview
    • Why Health Equity
    • Focus Areas
    • Measuring RWJF Progress
  • Grants
    • Grants Overview
    • Active Funding Opportunities
    • Awarded Grants
    • Grantee Stories
    • Grant Process
    • Grantee Resources
  • Insights
    • Insights Overview
    • Blog
    • Our Research
    • Advocacy And Policy
  • About RWJF
    • About RWJF Overview
    • Our Guiding Principles
    • How We Work
    • Impact Investments
    • Staff And Trustees
    • Newsroom
    • Careers
    • Contact Us
Find A Grant

    Increasing Investment in Affordable Housing, Climate Resilience, and Small Business in Underserved Communities xxxx xxxxxxx xxxxxxxxx xxxxxx xxxxx xxx

    Brief Jan-01-2022 | 2-min read
    1. Insights
    2. Our Research
    3. Increasing Investment in Affordable Housing, Climate Resilience, and Small Business in Underserved Communities
    Download case study
    A green, fenced-in house on a street corner.

     

    About This Guarantee

    In an attempt to increase investment to address the social determinants of health in low-income communities and communities of color, and give a new tool for the community development finance system, the Robert Wood Johnson Foundation (RWJF) provided a guarantee of up to $10 million to the Community Investment Guarantee Pool (CIGP).

    Created by the Kresge Foundation, CIGP, a first-of-its-kind vehicle within community finance, pools more than $42 million in investments from 14 investors including 12 philanthropies, one health system (Common Spirit), and LOCUS’ parent company—VCC. Through the aggregation of unfunded guarantee commitments from philanthropic organizations, CIGP utilizes the strengths of their balance sheets to unlock capital for affordable housing, small business, and climate. More guarantor commitments are expected in the next year, with the intention of increasing the pool to over $50 million.

    Why It Is Needed

    At RWJF, we envision a future where everyone—no matter who they are, where they live, or how much money they make—has safe housing that is affordable; equitable access to parks, recreation, and clean water and air; and good jobs with fair pay.

    Yet more than one in five U.S. residents live in a low-income community, which are more likely to have barriers to good health and opportunity.

    Through these guarantees, we hope to support initiatives that improve economic and environmental factors that shape our health and empower communities. Specifically, this guarantee aims to:

    • Accelerate investment in low-income communities to support affordable housing development, small businesses, and investments that increase climate resilience.
    • Ensure more efficient access for guarantee users.
    • Demonstrate that through a pooled model, foundations can better manage financial risk, find new ways to collaborate, and give intermediaries a one-stop-shop for credit enhancement.
    • Use the power of foundation's balance sheets—a relatively untapped resource—to unlock capital.

    Progress to Date

    In its first full year of operation in 2020, CIGP made some significant loan guarantees:

    • The deployment of $1.5 million to Genesis LA to bolster financing of public-supported supportive housing and naturally-occurring affordable housing in Los Angeles County, California.
    • A $2 million guarantee to the Low Income Investment Fund (LIIF) in support of a $20 million fund that aims to provide funds to affordable
      housing developers who have been impacted by the COVID-19 pandemic.
    • A $3.6 million guarantee to the Local Initiatives Support Corporation (LISC) for its $36M Diverse Developer Loan Fund to provide loans for minority- owned or -led developers with limited balance sheets.
    • In addition to RWJF, guarantors include the Chan Zuckerberg Initiative, Annie E. Casey Foundation, and CommonSpirit Health System. The Rockefeller Foundation, Hewlett Foundation, as well as the Wells Fargo Foundation have provided grant support to the effort.

    Related Content

    RWJF Feature
    A father and son walking on a sidewalk while a bus passes by.

    Impact Investments

    RWJF uses grantmaking, policy change, and impact investing to address barriers to health and wellbeing.

    1-min read

    RWJF Library
    Woman holding her child stands in a kitchen.

    Impact Investing Case Studies

    Browse a library of Impact Investing case studies.

    1-min read

    SHOW MORE
    +

    SHARE

    Subscribe to receive Funding Alerts & more

    Explore the latest in reflection and research from subject matter experts at RWJF and our wide network of partners.

    Email address already subscribed. Please check your inbox to manage your subscriptions.

    Subscribed!

    Thank you. You are now subscribed.

    Tell us what type of content you want to receive.

    Be informed with our weekly newsletter updating you with relevant news and research around a Culture of Health, as well as the latest funding opportunities.

    Get funded by RWJF: Receive notifications when new funding opportunities are released.

    Receive monthly updates on RWJF-sponsored research that informs many robust health policy debates on Capitol Hill, covering topics like health equity, improving access to quality healthcare, equitable housing, and more.

    Shop talk for researchers. This monthly newsletter covers research news and opportunities from the Robert Wood Johnson Foundation.

    Sometimes we have news, announcements or opportunities that don't quite fit the subscription parameters above. If you're interested, we'll send you this information under "There's more...". *If you've indicated you are an EU resident, we will only send these communications if you intentionally check this box.

    Yes! I want to tell you more about myself and receive personalized communications in the future.

    Area(s) Of Interest

    Which profession or pursuit best describes you?

    Unsubscribe

    Stop receiving all emails from RWJF

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    • CONTACT RWJF

      50 College Road East

      Princeton, NJ 08540-6614

       

      US Toll Free: (877) 843-7953

      International: +1 (609) 627-6000

    • MANAGE YOUR GRANTS

      MyRWJF Login

      • Twitter link
      • Facebook link
      • LinkedIn link
      • YouTube link

    • Our Vision
      • Our Vision Overview
      • Why Health Equity
      • Focus Areas
      • Measuring RWJF Progress
    • Grants
      • Grants Overview
      • Active Funding Opportunities
      • Awarded Grants
      • Grantee Stories
      • Grant Process
      • Grantee Resources
    • Insights
      • Insights Overview
      • Blog
      • Our Research
      • Advocacy And Policy
    • About RWJF
      • About RWJF Overview
      • Our Guiding Principles
      • How We Work
      • Impact Investments
      • Staff And Trustees
      • Newsroom
      • Careers
      • Contact Us

    ©2001- 

    Robert Wood Johnson Foundation. All Rights Reserved. 

     

    • Manage Email
    • Privacy Statement
    • Terms and Conditions