Three cracking stories today – properties being rejuvenated in Richmond, homelessness tackled in Denver and our lead story, a sensible encouragement to use PFS for procurement from the good folks of Third Sector Capital:
Tim Pennell & Joe Gayeski Third Sector Capital Partners
PLY: An excellent concept and one which can be deployed everywhere in the world for better spending of government cash. There are many ways to save on government procurement in countries rich and poor where supply chains have often become overloaded with providers who simply don’t, well, provide. Quality thresholds and performance based contracting must be the way of the future.
First Blighted Richmond Property Set To Be Rehabbed Under Social Impact bond Program
Richmond Standard
Richmond’s innovative program to use SIBs to acquire, rehabilitate and resell blighted homes in the city is about to start work on its first property is located at 623 17th St.
Denver Council OKs Contracts For Privately Funded Homelessness Program
Jon Murray – The Denver Post
Social impact bond relies on $8.6M fronted by bank, foundations to provide supportive housing for chronically homeless
The Denver City Council on Monday approved a pair of contracts for a new, privately funded supportive housing program aimed at helping up to 250 of the city’s most chronically homeless people.
It’s the city’s first “social impact bond,” in which investors provide $8.6 million to help launch and run the program with the potential to profit if it performs well, or lose money if it doesn’t.