The Kresge Foundation in Troy, Michigan, has announced a total of $90 million in grants and financing capital as part of a new multi-funder initiative to fund investments in infrastructure and climate resilience projects benefiting low-income communities in Atlanta, Chicago, Denver, Los Angeles, Memphis, and the San Francisco Bay Area.
Through the Strong, Prosperous and Resilient Communities Challenge (SPARCC), the TransFormation Alliance (Atlanta), L-Evated Chicago (Chicago), Mile High Connects (Denver), Memphis Partners for Resilient Communities (Memphis), Bay Area for All (San Francisco), and a partnership between LA THRIVES, ACT-LA, and the California Community Foundation (Los Angeles) will each receive a grant of $1 million and technical assistance funds, access to an estimated pool of $70 million in financing capital, and $14 million in additional programmatic support. In each region, coalitions of community residents and partners from the public and private sectors will work to implement strategies — from regional transit expansion and revitalizing existing transit hubs, to reshaping housing and land use — aimed at making their communities more prosperous and equitable.
SPARCC is a joint initiative of Enterprise Community Partners, the Federal Reserve Bank of San Francisco, the Low Income Investment Fund, and the Natural Resources Defense Council, with funding support from the Ford, JPB, Kresge, and Robert Wood Johnson foundations and the California Endowment.
"Chicago's long history of racial and economic segregation is no secret, and past investment decisions and policies have too often reinforced that segregation," said Juan Carlos Linares, executive director of Latin United Community Housing Association, a member of L-Evated Chicago. "By working both within and across our communities — and leveraging our transit system to enhance and connect our efforts — our SPARCC collaboration with community stakeholders will serve as an important tool to reverse that legacy and advance a more equitable and prosperous Chicago."