Community Development Fund and South Baltimore Gateway Funding Consortium
The South Baltimore Gateway Partnership announced a new $3.5 million Community Development Fund (CDF), an initiative to equitably sponsor community-led real estate development in the South Baltimore Gateway District. The City of Baltimore has pledged an additional $1.5 million from the Casino Local Impact Fund (CLIF) program. Casino revenues managed by SBGP and the City are expected to leverage up to $30 million in additional financing from the CDFI partners (Community Development Financial Institutions) who have pledged support for this effort. Learn more about the CDF here.
Read the full announcement here.
A broad goal of Reimagine Middle Branch is to expand economic opportunities for individuals and access to capital for equitable development projects in South Baltimore. A recommendation of the Plan’s Equitable Development framework is to create anti-displacement strategies that build upon existing initiatives and expand resources for community-led development projects in South Baltimore. The new CDF is one such strategy that was included in the Plan and is now being implemented. Read more about the Equitable Development framework in Chapter 5 of the Plan’s Design Vision here.