August 20, 2020
Impact investing alternative to grants
Foundation North says its investment in a Salvation Army community housing project is a way to learn more about social impact investing.
The community trust is putting $2 million into a $70 million project to build 118 homes in Royal Oak, Westgate and Flatbush.
Chief executive Peter Tynan says rather than it being a grant, the trust will get a return of between zero and 2 percent from the bond.
He says it’s also working with the Tindall Foundation and iwi partners on impact investing in Te Taitokerau.
"We're trying to do something very similar where we can maybe look at different types of investment from aquaculture, forestry anything to do with that regenerative environment space, housing, and they are working hard to find opportunities that we can invest in for the impact it may have for Māori in Northand," Mr Tynan says.
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