jerryking + community   40

How to funnel capital to the American heartland
April 15, 2019 | Financial Times | by Bruce Katz.
* The Innovation Blind Spot, by Ross Baird.
* Ways must be found to rewire money flows in order to reverse the export of wealth
* A federal tax incentive intended to entice coastal capital into the heartland may end up helping to keep local capital local.

Over the past year, economically distressed communities across the US have been engaged in an intense discussion about mobilising private capital. Why? As mayors, governors, real estate developers, entrepreneurs and investors have learnt, buried in the 2017 Tax Cuts and Jobs Act was a provision that created a significant tax incentive to invest in low-income “opportunity zones” across the country......the law’s greatest effect, ironically, has been to unveil a treasure trove of wealth in communities throughout the nation. Some of the country’s largest investors are high-net-worth families in Kansas City, Missouri, and Philadelphia; insurance companies in Erie, Pennsylvania, and Milwaukee; universities in Birmingham, Alabama, and South Bend, Indiana; philanthropists in Cleveland and Detroit; and community foundations and pension funds in every state.

These pillars of wealth mostly invest their market-oriented equity capital outside their own communities, even though their own locales often possess globally significant research institutions, advanced industry companies, grand historic city centres and distinctive ecosystems of entrepreneurs. The wealth-export industry is not a natural phenomenon; it has been led and facilitated by a sophisticated network of wealth management companies, private equity firms, family offices and financial institutions that have narrow definitions of where and in what to invest.

The US, in other words, doesn’t have a capital problem; it has an organisational problem. So how can capital flows be rewired to reverse the export of wealth?

Three things stand out:

(1) Information matters. The opportunity zones incentive has encouraged US cities to create investment prospectuses to promote the competitive assets of their low-income communities and highlight projects that are investor-ready and promise competitive returns.

(2) norms and networks matter. The opportunity zone market will be enhanced by the creation of “capital stacks” that enable the financing of community products such as workforce housing, commercial real estate, small businesses (and minority-owned businesses in particular) and clean energy, to name just a few. Initial opportunity zone projects are already showing creative blends of public, private and civic capital that mix debt, subsidy and equity.

(3) institutions matter. Opportunity zones require cities to create and capitalise new institutions that can deploy capital at scale in sustained ways. Some models already exist. The Cincinnati Center City Development Corporation, backed by patient capital from Procter & Gamble, has driven the regeneration of the Over-the-Rhine neighbourhood during the past 15 years.

More institutional innovation, however, is needed. As Ross Baird, author of The Innovation Blind Spot, has argued, the US must create a new generation of community quarterbacks to provide budding entrepreneurs with business planning and mentoring, matching them with risk-tolerant equity. These efforts will succeed if they unleash the synergies that flow naturally from urban density. New institutions will not have to work alone, but hand-in-glove with the trusted financial firms that manage this locally-generated wealth.
books  capital_flows  cities  coastal_elites  community  economic_development  economically_disadvantaged  economies_of_scale  high_net_worth  howto  industrial_policies  industrial_midwest  industrial_zones  institutions  investors  match-making  midwest  municipalities  networks  network_density  P&G  PPP  packaging  place-based  private_equity  property_development  prospectuses  Red_States  rescue_investing  rust_belt  tax_codes  venture_capital 
april 2019 by jerryking
When local news outlets shutter due to cuts, we all lose - The Globe and Mail
ELIZABETH RENZETTI
The Globe and Mail
Published Saturday, Apr. 01, 2017

Local journalism, whether it’s at a city paper or a weekly, a radio or TV station, keeps its community entertained and informed. The National isn’t going to send a camera crew to cover the profoundly annoying pothole on Main Street, or the feud between the dress-shop owners, or the cozy relationship between the mayor and the developers. The Globe and Mail is not likely to, either: This is where the country’s 1,060 community papers come in – or where they used to. According to a recent report, those papers lost $400-million, or one-third of their revenue, between 2012 and 2015. The Public Policy Forum’s recent report on media in Canada, called The Shattered Mirror, contains an even more alarming statistic: “Since 2010, there have been 225 weekly and 27 daily newspapers lost to closure or merger in more than 200 federal ridings.” Local television coverage has contracted as well.

“Well, so what?” you might ask. Your neighbourhood has a Facebook page. The mayor has a Twitter account. Except that none of your neighbours is going to sit through a long and boring zoning meeting and report back (unless he is particularly weird). And the mayor’s Twitter feed? Undeniably good if you’re looking for sunshine and kittens. Not so good for anything she doesn’t want you to see. When provincial legislatures and city councils are left unwatched, it also means no one is keeping an eye on the sausage-making machine of democracy......The problem of fleeing ad dollars and subscribers won’t be settled so easily, either: The industry has struggled with these pains for years. Not-for-profit foundations that run news outlets might be one idea, or hyper-local websites that are crowdsourced by neighbours.....In his farewell column, Kevin Diakiw wrote, “Moving forward, you will likely receive your information from the Internet, or newsrooms pared to the bone. Be sure to read not only information that fits your own narrative, but opposing views as well.

“The weighty responsibility of hunting for balance and accuracy now lands largely on your shoulders.”
newspapers  rural  community  journalism  opposing_actions  journalists  provincial_legislatures  engaged_citizenry  city_councils  local  print_journalism  subscriptions  dual-consciousness  Postmedia  consolidation  local_journalism 
april 2017 by jerryking
How Covenants Make Us - The New York Times
David Brooks APRIL 5, 2016

there are four big forces coursing through modern societies. Global migration is leading to demographic diversity. Economic globalization is creating wider opportunity but also inequality. The Internet is giving people more choices over what to buy and pay attention to. A culture of autonomy valorizes individual choice and self-determination.

All of these forces have liberated the individual, or at least well-educated individuals, but they have been bad for national cohesion and the social fabric. Income inequality challenges economic cohesion as the classes divide. Demographic diversity challenges cultural cohesion as different ethnic groups rub against one another. The emphasis on individual choice challenges community cohesion and settled social bonds.....Strong identities can come only when people are embedded in a rich social fabric. They can come only when we have defined social roles...You take away a rich social fabric and what you are left with is people who are uncertain about who they really are....how do we preserve individual freedom while strengthening social solidarity?

In her new book “Commonwealth and Covenant,” Marcia Pally of N.Y.U. and Fordham offers a clarifying concept. What we want, she suggests, is “separability amid situatedness.” We want to go off and create and explore and experiment with new ways of thinking and living. But we also want to be situated — embedded in loving families and enveloping communities, thriving within a healthy cultural infrastructure that provides us with values and goals.

Creating situatedness requires a different way of thinking. When we go out and do a deal, we make a contract. When we are situated within something it is because we have made a covenant. A contract protects interests, Pally notes, but a covenant protects relationships. A covenant exists between people who understand they are part of one another. It involves a vow to serve the relationship that is sealed by love: Where you go, I will go. Where you stay, I will stay. Your people shall be my people....Tolerance, he said, means, “I’m going to stomach your right to be different, but if you disappear off the face of the earth I’m no worse off.” Patriotism, on the other hand, means “love of country, which necessitates love of each other, that we have to be a nation that aspires for love, which recognizes that you have worth and dignity and I need you. You are part of my whole, part of the promise of this country.”
David_Brooks  community  social_collaboration  social_integration  covenants  patriotism  books  Commonwealth  values  social_fabric  social_cohesion  social_contract  tolerance  autonomy  individual_choice  self-determination  college-educated  pay_attention 
april 2016 by jerryking
What Tech Hasn’t Learned From Urban Planning - NYTimes.com
By ALLISON ARIEFF
Published: December 13, 2013

“Community space” implies something that is open to, well, the community. Subverting of naming conventions to suggest public access and transparency, while providing neither, is troubling and increasingly pervasive. But this turning inward, despite the incessant drumbeat of “community,” is quickly becoming the rule rather than the exception.... In “The Death and Life of Great American Cities,” Jane Jacobs wrote, “Cities have the capability of providing something for everybody, only because, and only when, they are created by everybody.” We’re losing that here. The further the tech sector gets from the reality of the problems it’s engaging with, the smaller piece of the problem they’ll end up actually fixing.

The tech sector’s embrace of urbanist lingua franca and its enthusiasm to engage with urban problems is awesome, and much welcomed. But these folks need to become better urbanists.
design  urban_planning  San_Francisco  technology  community  Jane_Jacobs 
december 2013 by jerryking
How Torontonians can get their hands dirty and improve their own parks
Mar. 29 2013 | The Globe and Mail | IAN MERRINGER.

The key, he says, is for residents to play a role in day-to-day park life – to organize, and perhaps run, the sorts of events and programs that should be animating their patches of ground.

Four weeks ago, this do-it-yourself model got a big boost when the W. Garfield Weston Foundation announced a grant of $5-million over three years to spur grassroots initiatives improving Toronto parks. The money bolsters an effort that has already been a runaway success. In those two years, the number of organized citizens groups – “Friends of” this or that park – has doubled from 40 to roughly 80.

In an era when all levels of government are pleading poverty and reducing services, Mr. Harvey’s Park People has hit upon a working method of do-it-yourself community activism: engaged volunteers seeking permission to do things on their own. This approach of co-operating with bureaucracy to get results could serve as a model for the future of advocacy in Toronto.
Toronto  parks  DIY  volunteering  community  community_support  activism  engaged_citizenry  bureaucracies  grass-roots 
march 2013 by jerryking
Black script needs new players
September 5, 1991 | Share Newspaper | letter to the editor by Malcolm Streete in response to article by Dr. Sheldon Taylor (August 1, 1991).

If problems as seen by Taylor do exist, it was even more important for him to state that cannot be addressed concretely and effectively, until some respected and credible leadership forward with a strategy.
The tragedy engulfing this whole scenario is that in Metropolitan Toronto and regions, with the largest population of Blacks in Canada, we continue In deal controversy and failure in the same manner:
* Without plan or strategy;
* With moral goals, instead of tangible, physical goals; and
* With old faces. using outdated models. that alienate the new.
More importantly --and at the same time, very damagingly-- so many of us have become too socially and economically comfortable, and have deserted the community.
There is also the growing reality that we have begun to separate ourselves from those now arriving from the Continent of Africa, without recognizing the fact that they are beginning to make up a sizable part of our growing community.
Unfortunately for Black people in Canada. the dominant culture views us in an unchanging stereotypical manner, all painted with the same Black brush. Thus. we need to look for solutions in places we have never looked before.

When we see the changing demographics of both our community and the broader community. we see an expanding pool of resources.

Firstly. there are the young, articulate and energized females and males, who are more than capable of giving our aims directions, strategies and visions.

Next. with the older torch-bearers passing the torch to this new ‘and important younger generation. we can act as an ocean of resources, sharing our experiences, knowledge. contacts and financial

Finally, let us get our act together and build a cultural centre, through which we can begin to exert some kind of control over our politics, education, economics and destiny.
letters_to_the_editor  African_Canadians  reinventing_the_wheel  Toronto  self-help  revitalization  leadership  institutions  community  renewal  self-reliance  institution-building  complacency  demographic_changes  strategic_thinking  Sheldon_Taylor 
august 2012 by jerryking
Why We Need Free Public Libraries More Than Ever
July 29, 2011 | The Atlantic | Keith Michael Fiels, the executive director of the American Library Association.
libraries  advocacy  reading  economy  community  democracy 
july 2011 by jerryking
Toronto website gives deep look at neighbourhood statistics - The Globe and Mail
ELIZABETH CHURCH
, Jun. 29, 2011
Want to know what neighbourhood has the highest graduation rates, the
most trees or the greatest number of car accidents?

The answers are now a click away with a new hub on the city website.
Wellbeing Toronto lets users map an array of services and demographic
information and compare the results across 140 neighbourhoods. Users can
see basic information about a neighbourhood, such as average family
income, education level and age of population by sliding their cursor
over an interactive city map. They also can delve deeper to plot
services such as daycare centres, transit stops, and even convenience
stores and supermarkets in a specific area and see how they stack up
with other parts of the city.
Toronto  websites  community  statistics  neighbourhoods  demographic_information  Elizabeth_Church  municipalities  mapping  open_data  crowdsourcing 
july 2011 by jerryking
Interview with Dmitry Shapiro, Akonix Systems|Online Community Report
We are seeing well-known publications such as Business2.0,
Business Week, Forbes, and Darwin Magazine publishing stories on
companies that are using community applications in new ways to tap into
their customer’s state-of-mind – for example, gathering business
intelligence or conducting online focus groups.
community  online  Igloo  trends 
february 2011 by jerryking
AlterNet: Are We on the Brink of a New Deal for Local Economies?
April 30, 2010 | YES! Magazine | By Stacy Mitchell. "...While
signs abound that people are rediscovering the benefits of an economy
rooted in community and small-scale enterprise, all of this activity,
though widespread, is still quite modest. It exists largely on the
margins and is unlikely to coalesce into a wholesale reorganization of
our economy unless we change the rules. "
local  economic_development  farmers'_markets  community  small_business 
may 2010 by jerryking
Op-Ed Columnist - In Athens, a Question From Lydia - NYTimes.com
May 14, 2010 | New York Times | By THOMAS L. FRIEDMAN.
Friedman argues that there's a tension between “situational values”
--doing whatever the situation allows--and "sustainable values”, values
that inspire in us behaviors that literally sustain our relationships
with one another, with our communities, with our institutions, and with
our forests, oceans and climate. Regulations, while important and
necessary, are insufficient in an increasingly connected world (i.e.
environment, markets, and societies). Trust and values come to the fore and the fear
is that our value system is being harmonized to the short-term thinking
associated with our markets.
values  value_systems  Tom_Friedman  social_fabric  social_trust  covenants  trustworthiness  regulation  Communicating_&_Connecting  interconnections  community  short-term_thinking 
may 2010 by jerryking
Volunteers build networks - and make a difference
September 24, 2009 | The Globe and Mail | CHERYL DEVOE KIM.
Forging connections in the community can have a big impact on skill
development, morale and team building
volunteering  networking  community  immigrants 
may 2010 by jerryking
Food - Field Report - Plow Shares - NYTimes.com
February 24, 2010 | New York Times | By CHRISTINE MUHLKE. The
Crop Mob, a monthly word-of-mouth (and -Web) event in which landless
farmers and the agricurious descend on a farm for an afternoon, has
taken its traveling work party to 15 small, sustainable farms. Together,
volunteers have contributed more than 2,000 person-hours, doing tasks
like mulching, building greenhouses and pulling rocks out of fields.
Sally should e-mail this to the Culinarium's operators as a value-add
they could coordinate.
farming  grass-roots  community  networking  food  locavore  greenhouses  volunteering 
march 2010 by jerryking
Indoor malls build community - The Globe and Mail
Chris Atchison

Special to The Globe and Mail Published on Tuesday, Dec. 01, 2009
BIAs  community  shopping_malls  retailers  community_builders 
december 2009 by jerryking
Small Business Strategies: Three Best Ways to Win Community Support - WSJ.com
OCTOBER 29, 2009 | Wall Street Journal | by MAUREEN SCARPELLI.
Identifies resources (e.g. the nonprofit Institute of Local Self
Reliance based in Washington, D.C.; http://amiba.net/)
small_business  local  community  BIAs  5_Blocks_Out 
november 2009 by jerryking
A List Apart: Articles: Community: From Little Things, Big Things Grow
May 06, 2008
Community: From Little Things, Big Things Grow
by George Oates
community  social_media 
april 2009 by jerryking
Psychology Today: The Laws of Urban Energy
July/August 2007| Psychology Today | Anya Kamenetz
The world is flatter than ever. But while technology may give us each
the tools of creativity, it takes urban proximity and unpredictability
to sharpen them. One's mental garden buds, blooms, and proliferates when
cross-pollinated with the many other flowers and fruits crowding the
urban jungle. People come up with more and better ideas and produce more
results from those ideas by finding more collaborators as well as
critics.

By: Anya Kamenetz
cities  creativity  economics  urban  community  idea_flows  idea_generation  inspiration  cross-pollination  Anya_Kamenetz  playing_in_traffic  prolificacy  proximity  psychology  unpredictability  serendipity  collaboration  information_spillover  densification 
april 2009 by jerryking
Growing a List of Opportunities - WSJ.com
FEBRUARY 24, 2009, 11:04 A.M. ET by ELIZABETH GARONE
community  craigslist 
february 2009 by jerryking
With the right skills, a community can lead its own recovery
12-01-2008 The Globe and Mail column by Judith Maxwell looking
at community initiatives, community development, getting people involved
in solving collective problems and creating community-based employment
as an alternative tool for economic development.
community  economic_development  local  economics  crisis  Judith_Maxwell  toronto  economic_downturn  community-based 
january 2009 by jerryking
Connecting With Customers Online: Readers Have Their Say
Feedback by readers on WSJ.com's small business blog,
Independent Street, to March 6, 2008 Small Business Link looking at the
way that companies are managing their Web presence to foster
relationships with existing and new customers.
social_networking  small_business  business  business_development  community  Web_2.0 
january 2009 by jerryking
Networking Together - WSJ.com
July 22, 2008 column by Kelly K. Spors on the increasing use of
social networking sites by small businesses to network with customers
and with other businesses to collectively raise the profile of a
particular geographic area or industry.
social_networking  small_business  Web_2.0  community  ning  coffee  Kelly_K._Spors  BIAs 
january 2009 by jerryking
Services Software Insider
Possibly pass on to Birju Patel of Radialpoint
community  telco  application  development  past  popular 
june 2007 by jerryking

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