The City of Miami has been selected by the Center for Community Investment (CCI) to take part in Connect Capital, an initiative that assists communities in attracting and deploying capital in low-income and disinvested areas.
“This grant enables us to better serve some of Miami’s most vulnerable residents,” said city manager Emilio Gonzalez. “The work funded by this initiative will help make Miami a more resilient community.”
Miami was competitively selected as one of six teams across the country to participate in Connect Capital. Teams consist of local leaders from a range of sectors and disciplines who tackle problems that are considered by residents to be critical to the well-being of the community.
Miami’s team comprises representatives with strong backgrounds in planning, residential construction, community development and non-profit advocacy. The team’s main goal is to work towards preserving and creating a combined 12,000 affordable housing units in Miami within five years, and to bring affordable housing to the forefront of conversation in the city.
“We have an ambitious goal to help thousands of our city’s residents who are struggling to pay their rent and mortgages,” said George Mensah, director of the city’s Department of Community and Economic Development and a member of the Miami Connect Capital team. “I’m hopeful that our collaborative team of partners can create lasting change in Miami and address the housing affordability crisis.”
The other Connect Capital teams are based in Central Appalachia; Coachella Valley, CA; Milwaukee, WI; Richmond, VA, and Seattle, WA. With funding from the Robert Wood Johnson Foundation (RWJF), Connect Capital provides each team with a range of support including customized coaching, facilitated peer learning, and a two-year, $200,000 grant from RWJF to fund a local staff position dedicated to advancing the team’s work.
“Connect Capital is a way to make capital flow to places where it doesn’t go on its own, to address the shortage of affordable housing, reduce health disparities, or minimize the impact of flooding on vulnerable places,” explained Robin Hacke, executive director of CCI.
Persons interested in joining Miami’s Connect Capital mailing list, to receive the latest updates and information on the initiative, can send email to connectcapital@miamigov.com.
