$10 million Central Baltimore Future Fund Announced Today!
Announced today: The Central Baltimore Future Fund or CBFF, the multi-million lending initiative is designed to work in collaboration with a comprehensive revitalization strategy for a cluster of central Baltimore neighborhoods by providing loans to developers and building owners who are seeking to build or restore high-impact projects.
Fund investors include the Abell Foundation, Anne E. Casey Foundation, City of Baltimore, First Mariner Bank, Goldseker Foundation, Howard Bank, Johns Hopkins University, Living Cities Foundation, M&T Bank, MECU, PNC Bank, and Rosedale Federal Bank.
Natalie Sherman of the Baltimore Sun covered the announcement of Central Baltimore Future Fund today!
She noted that: “The idea of a lending pool focused on central Baltimore was a major piece of a plan unveiled this spring by the Central Baltimore Partnership, which called for adding 3,000 new households to the area by 2022.
Borrowers will be required to work toward goals for local and minority hiring. The fund is also backed by the city and Johns Hopkins. ”