Dallas Collaborative for Equitable Development Announcement
By: Hannah Rabalais, Program Officer
On October 17, 2019, a press conferenced was called at the Doherty Family Fieldhouse at St.Philips School and Community Center to announce a monumental investment for three communities in Dallas.
JP Morgan Chase & Co. announced that they are awarding The Real Estate Council (TREC) a three-year grant for $6 million dollars to create the Dallas Collaborative for Equitable Development. The organizations involved in the collaborative are TREC, Dallas County Community College District, Lift Fund and Texas Mezzanine Fund. They will be focusing their efforts in 3 different communities in Dallas: West Dallas, The Bottom, and the Forest District.
TREC will be focusing specifically on an affordable housing fund, land acquisition, housing rehabs, a community land trust, and funding small businesses. DCCCD will be focusing on hiring an outreach coordinator for each neighborhood to begin working with community members on workforce development and education. Lift Fund will be providing affordable loans to businesses and startups in the community. And the Texas Mezzanine Fund will be working with the community to provide funds for community centers.
At the press conference, Linda McMahon, president, and CEO of The Real Estate Council shared this statement: “This effort will provide the resources these communities told us they wanted through the yearlong planning effort and illustrates what’s possible when deliberate and collaborative community planning is forged through enduring partnerships among all stakeholders. Our collective approach will continue to address the acute needs to develop affordable housing, increase access to workforce training, investment in small businesses and deliver much-needed community leadership training as core outcomes.”
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