Denver moving forward, New Zealand delayed due to guarantee negotiations…
Please note that as Monday marks Orthodox Easter, is a UK Bank Holiday and Pan European Day of Indolence, we’re not going to publish a SIB News Monday but will return Tuesday. Have a good weekend and where appropriate Happy Easter!
Denver Project to Utilize Social Impact Bonds
Donna Kimura – Housing Finance
A new Social Impact Bond (SIB) program will help finance a permanent supportive housing development for Denver’s most vulnerable residents.
Officials recently held a groundbreaking ceremony for Sanderson Apartments, which will serve 60 formerly homeless individuals. The nonprofit Mental Health Center of Denver is developing the project and will deliver key services to residents who may have mental health needs and substance-abuse histories.
Denver’s SIB program will play a critical role in funding programs at the community, which will utilize a Housing First model, says Oriana Sanchez, director of facilities at the Mental Health Center of Denver.
NZ – Social Bond Programme Stalled By Negotiations
RNZ
Negotiations for the government’s first social bond are still going on nearly a year after it was announced – and despite expectations it would already have been implemented.
Nearly $29 million was set aside in last year’s Budget to roll out four social bond programmes.
A social bond uses private investors’ money rather than public funds to provide a social service.
But uncertainty over whether the government would guarantee the security of the private funding appears to be a stumbling block.
The most likely investors – philanthropic organisations – have so far not committed to putting money in.