At a seminar in London on July 30, a group of community development specialists heard Joan Shapiro from the South Shore Bank of Chicago explain how her bank is making money through reviving distressed communities.
At a seminar in London on July 30, a group of community development specialists heard Joan Shapiro from the South Shore Bank of Chicago explain how her bank is making money through reviving distressed communities. For twenty years the Bank has practiced development economics, not in the third world but in the decaying heart of the first world, revitalising a depressed local community and making a healthy return on capital. President Clinton is now considering investing 6382 million in community financial institutions to encourage lending in inner city areas.
Ms Shapiro was speaking in support of a new Business in the Community venture, Local Investment Fund, which will make loans to economically viable community based enterprises that conventional funders cannot properly assess. Such voluntary bodies will be able to move from dependency on grants to greater self-sufficiency through earnings. The Department of the Environment has promised £1 million for the first phase of the project, provided £2 million is raised from private sector sources. The initial feasibility work is being supported by Marks & Spencer and BP. Contact Graham Bann, BITC, on 071 629 1600
The 1993 Community Enterprise Awards were launched in London at Coin Street Community Builders on June 30, in the presence of HRH The Prince of Wales. Run by BITC in partnership with The Times and sponsored by TSB Group, United Biscuits and Chartwell Land, they aim to highlight successful community led business initiatives in urban areas. The closing date is September 1. Contact Claire Bowles on 081 675 2241
City Challenge does offer the hope of building strong local partnerships between communities, local government, private companies and central government, provided important changes are made, according to an NCVO study, City Challenge – involving local communities. Based on research in eight areas and on the conclusions of a conference last year, the report makes recommendations to all the partners on how to involve the community more.
An Urban Regeneration Advisory Group is meeting regularly to run seminars and produce good practice guides, with funding from the Department of the Environment and the Joseph Rowntree Foundation. Contact John Mabbott, NCVO, on 071 713 6161
The jury is still out on City Challenge, but the signs are hopeful that long term benefits from the initiative will be learnt, according to the summer edition of Policy Studies, the journal of the PSI. One major problem is the discontinuity between the political cycle and the property and investment cycle, with politicians anxious for dramatic private sector involvement at a time when companies are reluctant to invest large sums. Contact Ian Christie, PSI, on 071 387 2171
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