We are pleased to announce a new Program-Related Investment (PRI) loan approved to the Greenlining Institute, which will leverage $5.5 million to renovate its downtown Oakland headquarters, providing affordable space to critical nonprofit service providers.
Leveraging TSFF’s $500,000 investment more than ten times, Greenlining Institute’s building will serve as an anchor space for organizations promoting social justice in downtown Oakland.
The renovated space will include office and work-space for nonprofit organizations; Greenlining’s 30-plus staff members and Leadership Academy participants; and community conference space for meetings and events. This project will help revitalize a downtown Oakland neighborhood and create accessible space for nonprofits in Oakland. The construction project will employ local hires and pay the Oakland living wage.
Greenlining Institute is a champion for economic equity and a long-time partner and grantee of The San Francisco Foundation. Greenlining is a multi-faceted organization that works to empower and activate communities, through leadership training, research, and shaping policy that works for all communities.
This is the third loan made from the Program-Related Investment Fund pooling funds from our generous donors alongside the Foundation’s. Our loan is helping leverage an additional $7.5 million in grants, debt and equity, including $3.4 million in New Markets Tax Credit equity.
We look forward to sharing more about the impact of this work as renovations begin, and service providers begin moving in and using the space.
Learn more about our Program-Related Investment Fund and our current portfolio of loans at sff.org/pri.
See more PRI-related posts:
A (Delicious) Return on Investment