MILWAUKEE: A community group is proposing the pooling of retirement savings via a Community Investment Bond to underpin the development of affordable community housing for seniors.
The novel financial experiment has been successfully trialled in Nova Scotia.
The Community Investment Bond concept is attracting a provincial government tax credit.
Community investment is not the only model of funding housing projects in the emerging “social finance” sector. Others tie investment returns to achieving identified, measurable social goals or allow housing organizations themselves to issue and repay bonds on the market…