Fascinating stories from Denver and the UK today, as SIBs expand..
What Social Impact Bonds Tell Us About Social Impact
Lisa Dorstek – Impetus PEF
Two reports (NPC and Big Society Capital) in the same month on the lessons learned from Social Impact Bonds (SIBs) provides a handy opportunity to compare different perspectives on the subject, and reflect on your own. Even more so, when you happen to be working on the topic yourself.
CSH & Denver Innovate To Help Vulnerable People
Deborah De Santis (President and CEO of Corporation for Supportive Housing) – The Huffington Post
This past week, Denver Mayor Michael Hancock unveiled a new initiative in his city that could significantly alter the way communities provide affordable housing and services for homeless people and others in need.
With former President Bill Clinton by his side, Mayor Hancock detailed a groundbreaking $8 million funding plan focused on Denver’s chronically homeless – those who find themselves caught in continuous crises and the revolving door of expensive emergent care.
CSH is partnering with Denver to implement a Social Impact Bond for the development of much-needed supportive housing.
Although the commitment in dollars is quite impressive, the program will not initially burden local taxpayers. Under this paradigm, investors, such as large investment banks and foundations, provide money upfront while relying on a contract that commits taxpayers to repaying them later, but only if the effort proves successful.