What it does
The catalyst impact fund's purpose is to develop and facilitate innovative solutions, programs, and opportunities to address housing and other socioeconomic concerns for america's essential workforce.
Affordable housing: on january 31, 2024, the organization acquired a multifamily rental housing development located in san jose, california. The 6-story property includes 168 residential units and 18,151 square feet of commercial space. Pursuant to a regulatory agreement, the organization is committing at least 20% of residential units for very low income tenants (at or below 50% of area median income) and at least 75% of units for low income tenants (at or below 80% of area median income). Rents for these units are set at affordable rates in compliance with federal and local housing standards. The property includes 4 commercial tenants that pre-date the organization's acquisition. While these commercial leases generate unrelated debt-financed income, these activities remain ancillary to the organization's primary affordable housing mission.
Fiscal sponsorship: the organization serves as fiscal sponsor to jdl strategies, llc, supporting its charitable project to assess land banking as a solution for community-centered affordable housing production and preservation in marin county, california. As fiscal sponsor, the organization receives and administers charitable contributions and grants for the project, ensuring proper oversight and disbursement of funds for project-related expenses.