Stories of Philanthropic Leadership in Advancing Regional and ...

EQUITABLE PUBLIC INVESTMENTarrangement. Any future city action committing itsfuture HDIC cash flows would occur in response tothe particular needs of any specific PRI opportunity.at a CDC, sometimes downtown—over the courseof dozens of meetings. Committing to this kind ofprocess, says Rosenthal, means committing to thetime it requires.Building aconsensus-drivenbusiness model withmany differentstakeholders, even if,as in this case, theyall like the basicconcept, requirestime and patiencefrom all concerned,including funders.Building a consensus-drivenbusiness model with manydifferent stakeholders, evenif, as in this case, they alllike the basic concept,requires time and patiencefrom all concerned, includingfunders.The Gold Avenue Loft in downtown Albuquerque is the most complex andhigh-density building in New Mexico, combining rental retail, for-sale office,and for-sale residential on 12,000-square feet (150 dwelling units to theacre). (Source: Arcadia Land Company and HDIC).ResultsTo date, the primary accomplishment has been theestablishment of the Civic Trust itself. The Trusthas a business plan that reflects the wishes ofgroups and individuals with previously verydifferent interests who have come together tosupport the effort, as represented by the diversestakeholders forming the board of directors. Thisbalance is important for several reasons. First, itincreases the likelihood that the Trust’s project andinvestment decisions will receive stakeholdersupport. Second, it makes the Civic Trust a moreappealing opportunity for any program-relatedinvestment. According to the McCune CharitableFoundation’s executive director, Owen Lopez, theFoundation hopes the Civic Trust secures the PRIby July 2006, the end of its current grant from theFoundation. Lastly, the PRI will affect localpolitical decisionmaking, enhancing the likelihoodof city support for the Trust’s activities.Lessons LearnedThe value latching endeavor has underscored theneed for a community-based process whendesigning any anti-displacement effort, saysEnterprise’s Rosenthal. The process cannot be topdownand must be overtly and purposely accessible.For example, the planning meetings for the CivicTrust rotated among the many stakeholders—sometimes held at a community center, sometimesContact PeopleCarl AnthonyActing Director, Communityand Resource Development UnitFord Foundationc.anthony@fordfound.org(212) 573-4802Chris LeinbergerDeveloperArcadia Land Companycleinberger@arcadialand.com(505) 244-9339Owen LopezExecutive DirectorMarshall L. and Perrine D. McCuneCharitable Foundationowenl@swcp.com(505) 983-8300Joseph MontoyaDirectorAlbuquerque Civic Trustjoseph@abqcivictrust.org(505) 848-8232Ed RosenthalDirectorEnterprise Foundation, Santa Feerosenthal@enterprisefoundation.org(505) 428-235247Funders’ Network for Smart Growth and Livable Communities