How to buy your neighborhood
V.1, N.11
Our lead article below highlights the New Hampshire Community Loan Fund, which has deployed a cooperative ownership model to expand homeownership across the Live Free or Die state. Over the past 35 years, the Community Loan Fund has organized 139 mobile home parks into housing cooperatives that enable residents to buy their own homes on top of community-owned land. This has freed thousands of New Hampshire families from predatory rent hikes or possible evictions. What the Loan Fund has accomplished with one segment of the housing market suggests what local investors can and should do everywhere.
Also in this issue, you will read about how the Detroit Black Farmers Fund is helping local farmers invest in their own urban plots in the Motor City; how United States-based cooperatives are booming, especially worker-owned models; and how investment crowdfunding has topped the billion dollar mark.
If these stories inspire you, consider leading these kinds of local investment initiatives in your own community as a Main Street Champion. We now have 40 Main Street Champions driving economic change via local investments. With thousands, we can make an even bigger impact. Become a champion here.
– Michael Shuman, Publisher of The Main Street Journal
NEWS
Here’s What Happens When Residents Buy Their Neighborhood, Next City (November 3)
In Detroit, A Push to Help Black Farmers Purchase Land (Next City, November 8)
Opportunities for Cooperative Conversion and Start-up In Rural Communities, University of Wisconsin-Madison (November 2021)
Investment Crowdfunding Surpasses $1 Billion Funded, The Crowd News (October 25)
PARTNER VOICES
Turning Employees into Owners: Rebuilding the American Dream, Ownership America (October 2021)
How Co-ops Raise Capital, Cutting Edge Capital (October 28)
The Relationship Between Investing & Community Economic Development, Jenny Kassan (November 1)
FEATURED EVENT
ASBC-SVC 2021 Conference — In-person conference. December 8–11, 2021, San Diego, CA. A convening for business leaders, impact investors, policymakers, and more.
ICYMI
Acquisition-Conversion: The Promising New Strategy for Scaling Worker Ownership, Shareable (August 19)
The Pandemic Is Helping Create A New Era Of Employee-Owned Companies, Shareable (October 18)
Capitalism or Reformation? New Horizons on Responsible Investing, Natural Investments (October 19)
JOBS BOARD
Mission Driven Finance is Seeking a Full-Time Staff Accountant (can be fully remote)
Cutting Edge Capital is Seeking a Part-Time Operations and Office Manager (prefers in-person in Oakland, CA, but will consider remote applicants)
BECOME A MAIN STREET CHAMPION
Have you always wanted to start a local investment club? A website of local investment offerings in your community? A local investment study group? Whatever your interest or ambition, we invite you to “go public” to help others in your region find you, scheme with you, and start a local investment movement in your community. Our goal is to identify dozens, then hundreds, then thousands of Main Street Champions like you across America. We already have Main Street Champions across the U.S., from San Luis Obispo, CA to Providence, RI, and even Australia! Together, we can move our hard-earned savings from Wall Street back into our communities. Fill out the intake survey below to join this first cohort!
READ OUR PAST ISSUES
Issue #1 – Intro to The Main Street Journal
Issue #2 – Local climate investments, CDFIs, & agricultural co-ops
Issue #3 – Public banking, a driver-owned Uber, & growth capital
Issue #4 – Plant closure causes disastrous ripple effects on local economy
Issue #5 – Local investing leaders, infrastructure bill, community land trusts
Issue #6 – Microbonds to reverse climate change
Issue #7 - The wonderful world of worker co-ops
Issue #8 - Threats to your self-directed retirement savings
Issue #9 - Local investment opportunity networks (LIONS)
Issue #10 - Supercharge your nonprofits with local investment
About The Main Street Journal
The Main Street Journal aims to catalyze the movement of $50 trillion from Wall Street to Main Street to facilitate economic development and economic justice. It’s sponsored by the National Coalition for Community Capital, with a grant from the Heron Foundation. We welcome feedback about everything, from our design to content. And we welcome suggestions of other groups to involve as partners, and other information to include. Please send ideas to Sophia Leswing at sophia@main-street-journal.com.
PARTNERS
We welcome any nonprofit or for-profit committed to local investment as a partner. If your organization is interested, please contact Sophia Leswing at sophia@main-street-journal.com.