During this highly charged political election season we are constantly bombarded with choices that present market-based solutions against the public good. As we know, it's much more dynamic and hopeful than the pundits would have us believe.

In fact, despite a contentious political environment and a sluggish economic recovery where businesses of all types are reluctant to make commitments, Contact Fund continues to actively pursue its own brand of local community investing. It's a proven approach that stimulates local economies and leverages the full power of private capital by collaborating with both private investors and local community-based enterprises. The results are noteworthy, spurring additional investment and providing real opportunity in many of New York City's most diverse and under-resourced neighborhoods.

Our two most recent loans, Women's Housing and Economic Development Corporation (WHEDco) and Hospital Audiences, Inc. (HAI). are the best examples of our work.

Contact Fund's pre-development loan to WHEDco will cover architects and other fees for a 361,600 square foot mixed use facility with 293 mixed-income rental apartments, a public charter school, open green and retail space -- and the Bronx Music Heritage Center (BMHC). BMHC will serve as an arts and cultural destination that will help to draw a 'creative class' of artisans, art entrepreneurs and innovators in order to drive economic development in the Melrose Commons neighborhood of the South Bronx.  WHEDco is a prior Contact Fund borrower whose two past loans were fully repaid in 2010. 

Our loan to HAI, a nonprofit arts and education enterprise that reaches 350,000 people annually, will be used for IT infrastructure upgrades to expand their revenue-generating ventures, primarily its Tickets to Go program. Tickets to Go is a discounted ticket venture to Broadway, dance, music and sporting events. Click here to check out their discounted ticket offerings!