Inspiring News Stories
Excerpts of Highly Inspiring News Stories in Major Media
Below are one-paragraph excerpts of highly inspiring news stories from the major media. Links are provided to the original stories on their media websites. If any link fails to function, click here. The inspiring news story summaries most recently posted here are listed first. You can explore the same list with the most inspiring stories listed first. See also a concise list providing headlines and links to a number of highly inspiring stories. May these articles inspire us to find ever more ways to love and support each other and all around us to be the very best we can be.
"Community-owned cooperative real estate" ... was developed a decade ago by a nonprofit legal group and a nonprofit neighborhood group in Oakland, Calif., and has been refined by legal and development groups in Atlanta, Boston, Minneapolis, Philadelphia, Portland, Ore., and other cities. The cooperative strategy enables neighborhood groups to finance unconventional construction or renovation projects that banks and institutional lenders, which prefer strong cash-flow operations, won't touch. Much of the approach stems from efforts by the federal and local governments to make it easier for small investors to put money into real estate developments. Federal rules once barred small investors – those whose net worth is less than $1 million or who make less than $200,000 a year in income – from participating in development projects; that changed in 2015. At the same time, a few states enacted laws allowing small investors to put their money into local developments. "Until that change, 90 percent of the residents in a community couldn't make direct investments in a real estate project," said Chris Miller [with] the National Coalition for Community Capital, a nonprofit group. "Michigan allows nonaccredited investors to invest up to $10,000 in a project now." In Oakland, the East Bay Permanent Real Estate Cooperative is widely credited with being one of the first community groups to apply the community-owned cooperative concept to a neighborhood project.
Note: Explore more positive stories about reimagining the economy.
