Bayou District Foundation in New Orleans to Receive Equity With a Twist Financing
This week, LIIF and JPMorgan Chase & Co. announced a new way to invest in social change. Equity with a Twist (EQT) is a social capital product that provides flexible, low-cost financing to support and incentivize integrative, outcomes-driven solutions to poverty. In New Orleans, the Bayou District Foundation (BDF) will be one of the first nonprofits to benefit from these new investments.
Serving a community still rebuilding a decade after Hurricane Katrina, BDF will utilize the $2 million loan to benefit the mixed-income Columbia Parc community. The project includes affordable housing, a health clinic, a high-quality early childhood education school and a planned K-8 charter school.
The Times Picayune explores the investment in an interview with LIIF’s president and CEO, Nancy Andrews. Ms. Andrews expresses her excitement to see the long-term impact of this investment in New Orleans.
“This is an investment in an enterprise, not in a single project. It’s intended to help the Bayou Foundation with its overall needs … We’re really looking to the social returns much more than the financial returns.”
EQT’s financing will also support BRIDGE Housing’s Potrero Terrace & Annex in San Francisco, a HOPE SF site, and Jordan Downs in Los Angeles. These projects will transform dilapidated public housing into vibrant mixed-income communities, with programs and services.