Jan. 2020 Newsletter

In the shuffle and haste of “closing the books” for the year, it can be difficult to pause and reflect on how our collective work contributes to the broader localism movement and emphasis on place-based capital systems. But it is essential to acknowledge the difficulty of this work so that we can appreciate the significance of our progress and successes. This month, we share some of our successes alongside our partners in 2019 and look ahead to what we see coming in 2020.

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In December, 11 philanthropic organizations closed the final agreement for the Community Investment Guarantee Pool, the first domestic, multi-investor pool of guarantees for lending intermediaries involved in the affordable housing, small business and climate sectors. For more information, reach out to us at [email protected] and keep up with LOCUS for more announcements on CIGP later this month.

Virginia Community Capital (VCC), LOCUS' parent company, wrapped up its 2019 Learning Exchange. Titled "What's Next," the event featured TED style talks on issues impacting communities across the country, including housing, impact investing, technology and clean energy.

Stay tuned to LOCUS and VCC in the coming weeks for recordings of the program and speaker presentations.

The University of Virginia created a new January term course that dove deep into the expanding field of impact investing, " Impact Investing in Action: Appalachia. " The J-term course was lead by Stephanie Randolph, program officer of the Cassiopeia Foundation.

LOCUS President Teri Lovelace spoke at a kickoff event for the new curriculum addressing students on impact investing innovations like Opportunity Virginia and Community Investment Guarantee Pool.

The U.S. Treasury Department released finalized regulations governing Opportunity Zone eligibility. The new rules seek to create clarity for potential investors looking to take part in benefits offered by the 2017 Tax Cuts and Jobs Act. Among the principle changes, regulators altered the timing surrounding when participants can invest gains and set the types of developments eligible for fund investment.

Forbes published another informative article on Opportunity Zones, " Community-First Opportunity Zones: Why Local-First Developers and Funds Are Essential." The article asserts that local developers are vital in creating success with community-focused developments and driving investor engagement with Qualified Opportunity Zone Funds.

LOCUS Capital, Inc. is a Registered Investment Advisor Firm. Advisory services are only offered to clients or prospective clients where LOCUS Capital, Inc. and its representatives are properly licensed or exempt from licensure. LOCUS Capital, Inc. and its representatives do not furnish investment advice or services through this website. Past performance is no guarantee of future returns.