Enterprise Community Partners
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Enterprise Community Partners, formerly The Enterprise Foundation, is a Columbia, Maryland-based nonprofit organization with offices nationwide. Founded in 1982 by developer/philanthropist James W. Rouse and his wife Patty, Enterprise has worked with community-based nonprofit organizations to develop over 240,000 affordable homes and invest over $9 billion throughout the United States. At its outset the program was embraced by both Democratic and Republican administrations as a method to defund expensive subsidized housing. It was also supported by land development interests to prevent competition in the home building industry. Initial funding came from Rouse's ACTION partners Richard King Mellon, David Rockefeller, Andrew Heiskell, Ford Foundation, and other Rouse affiliates including Kittamaqundi Community leader Gordon Cosby, Robert McNamara, Senator Mac Mathias. Although in private control, the Enterprise foundation relies heavily on federal incentives, loan guarantees and financing from agencies such as the FHA.
The Enterprise foundation was to be the central clearing house for a profitable privately operated social welfare system.
The model included.
- Securities - Providing investments from and income to the foundation
- Projects qualifying for charitable investment - Loans and equity form foundation, and income to the foundation.
- Enterprise Development Company - A for-profit company that provides Joint Ventures with Local Developers and Non-Profits with cash flow return to the foundation. The firm developed the Festival marketplace projects using public and private funding.
- Community Housing Corporations - Receives loans from foundation for community projects and returns income to foundation.
On October 8, 2009, Enterprise Community Partners announced a $4 billion commitment to the next generation of its Green Communities initiative. Enterprise said its efforts will result directly in the creation, preservation, or retrofit of 75,000 green homes and community and commercial buildings over the next five years. The group will provide loans to owners of existing multi-family buildings in key markets for capital purchases that will reduce energy and water consumption or will lead to more healthy living environments. Enterprise relies on support from a number of banks and foundations, and it is currently drawing on $2.5 million in grants for fundraising. Enterprise also issued a national call to action to make all affordable housing in the United States meet green criteria by 2020. To provide background, the organization released a study proving the overall return on investment of meeting its Green Communities Criteria. Based on years of research, the report, "Incremental Cost, Measurable Savings: Enterprise," finds that the estimated lifetime savings exceed the initial investment made to incorporate the Green Communities Criteria into affordable housing during construction.
- Tempozan Marketplace a Festival marketplace project near Osaka, Japan developed as a public-private partnership with the Osaka Waterfront Development Corporation.
- Nicholas Dagen Bloom. Merchant of Illusion James Rouse America's Salesman of the Businessman' Utopia. p. 92.
- Nicholas Dagen Bloom. Merchant of Illusion James Rouse America's Salesman of the Businessman' Utopia. p. 91.
- Joshua Olsen. Better Places, Better Lives. p. 307.
- "EERE News: Affordable Green Housing Gets Boost from Billion-Dollar Funds". Apps1.eere.energy.gov. Retrieved 2012-01-05.
- Joshua Olsen. Better Lives Better Places.
- Osaka Municipal Government (2002). Osaka and Its Technology, Issues 41-49. p. 8.
- "Harvard University". Retrieved 10 January 2014.