Community Investment Fund
Let's go 100% local: The Vancouver Island Community Investment Co-operative will support social, environmental, and economic sustainability by channeling local investment dollars into community enterprises that support social, economic and environmental goals.
About the Initiative
Since 2012, the Community Social Planning Council has been leading an initiative to develop a community investment fund that will invest in affordable housing and community enterprises in the region and on Vancouver Island, supporting local sustainable jobs, housing, economic and social opportunities. With the support and advice of community members with relevant expertise we are now ready to incorporate the Vancouver Island Community Investment Co-operative and plan to issue our first offering to the public in early 2014.
Community Investment Funds or CIFs are gaining popularity across Canada and internationally as tools for communities to build and support local economic and social development. In financial terms, a CIF is way for local people to direct their investments into local projects, CIFs are sometimes, but not always, accompanied by a tax credit and RRSP eligibility. Unlike traditional philanthropy your contribution to a CIF is an investment and comes with both the risk and return associated with that. For example, people could invest in a CIF as part of a Registered Retirement Savings Plan and receive a tax credit. A multi-stakeholder, independent board then evaluates applications and invests money from the local CIF to local environmentally responsible and socially innovative businesses, cooperatives, community enterprises, or affordable housing developments. The CIF in turn provides investors a specific withdrawal date and a target rate of return.
News and Resources
Update | June 2013
Backgrounder | June 2013
Powerpoint presentation - A Community Investment Fund for Greater Victoria | Jan 2012
Focus Magazine Article – Put your money where your municipality is | Jan 2012