Bipartisan embraces across the great American nation while jail and homeless priorities emerge in the state of the county of Santa Clara…
Jails, Homelessness Prioritized In State Of The County Speech
sanjoseinside
Santa Clara County Board President Dave Cortese called for jail reforms and continued efforts to help the homeless in the State of the County speech.
From the transcript:
“But there’s more to come. Be ready for the area’s first micro-housing village later this year. Besides its recommendations, the Task Force’s legacy is proving that even past political opponents can work together to tackle our most pressing challenges. And it solidified partnerships with the City of San Jose and the 14 other cities in the County to solve the lack of affordable housing with a regional approach. Our Pay for Success project with Abode Services, called Project Welcome Home, is moving forward to provide community-based clinical services and permanent supportive housing to 200 chronically homeless individuals a year for six years. Under this model, also known as Social Impact Bonds, the Board voted to invest $12 million for the project, with investors, such as Google.org and the Laura and John Arnold Foundation, along with the Irvine Foundation, Sobrato Foundation, Corporation for Supportive Housing, California Endowment, Reinvestment Fund and the Health Trust. Now that’s what I call a public-private partnership. Thanks to Catholic Charities for bringing the idea of Social Impact Bonds forward in the first place. We only pay if the project is successful in housing and stabilizing at least 80 percent of these individuals for at least a year. And they have already been successful. This is a whole new way of doing business for the county. One that our business partners endorse.”
Social Impact Bonds: Something Republicans & Democrats Agree On
Anne Field – Forbes
The bipartisan embrace of Social Impact Bonds (SIBs) is growing ever more vigorous.
Also known as pay for success, SIBs are a new mechanism for financing initiatives aimed at addressing social ills, such as recidivism and substance abuse; they involve public-private partnerships in which investors get paid back only if the program meets agreed-upon, measurable outcomes.