Westside Neighborhood Prosperity Fund Background
The Arthur M. Blank Family Foundation seeks to invest in catalytic projects that will ignite positive change and improve the quality of life in the neighborhoods on the Westside of Atlanta.
For more than a decade, The Arthur M. Blank Family Foundation ("the Foundation") has been committed to these neighborhoods and has supported human services, education, youth development, parks and green space projects, and other initiatives in these communities. Now the Foundation is poised to join with the City of Atlanta and other partners to escalate that investment with the goal of creating long-term, transformational change and vital, healthy neighborhoods.
The Board of Directors of the Foundation have created a discrete fund within the Foundation known as the Westside Neighborhood Prosperity Fund (“the Fund”). The sole purpose of the Fund is to make strategic, philanthropic investments in Vine City, English Avenue, Castleberry Hill and other contiguous neighborhoods. Other donors/partners/agencies will be encouraged to co-invest in Fund projects or to contribute to the Fund for the benefit of these Westside neighborhoods.
The Foundation has committed to investing $15 million in the Fund. The entire $15 million will be transferred no later than December 2017, and the entire Fund will be invested in projects for the communities by December 2020.
The Atlanta Development Authority (d/b/a Invest Atlanta) also has committed $15 million from the Westside Tax Allocation District ("the TAD") to co-invest in the targeted neighborhoods. Planned uses of TAD funds are expected to leverage additional public and private funds.
A memorandum of understanding has been executed between Invest Atlanta and the Foundation to memorialize the terms of this partnership in order to maximize the impact of our collective investments.
Grants from the Fund are approved by the Foundation Trustees. Community input is an important factor in the decision-making process.
Westside Neighborhood Prosperity Fund Guiding Principles
The Westside Neighborhood Prosperity Fund seeks to invest in a limited number of transformational projects that result in lasting impact over a generation. The Fund will invest in nonprofit partners with a track record of success. The Fund gives preference to projects that:
- Demonstrate an understanding of the overall needs of the neighborhoods;
- Accelerate quality-of-life improvements, benefitting children and families;
- Improve the health, education and welfare of residents;
- Address equity, social justice and cultural/historic preservation issues associated with new residential and commercial development; and
- Attract new investment, new jobs and new businesses to the stadium neighborhoods.
For more information contact Debbie Montgomery.