2024-06-18 PL-INT-2024-007988 HACBED Category PL.3

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As part of this work, HACBED has also managed and operated the Family Independence Initiative— Hawai`i, an initiative to identify viable asset building policies and community practices that work to break the cycle of poverty. The initiative supported families taking initiative and developing their own pathways out of poverty in two ways: • through monetary awards and new connections, FII increases the economic and social assets of families that take the initiative to leverage their culture,values, and natural community to develop achievable paths out of poverty. • as FII learns what actions families are taking to help themselves and others,we connect public, private and philanthropic sectors to these efforts and help to improve the programs and policies aimed at low income communities. In less than two years, families in four communities on O`ahu were able to achieve an 18% increase in their monthly household income, a 75% increase in family net worth, and a 377% increase in savings. Finance & Fund Development Through its training, technical assistance, and executive coaching services, HACBED has provided support to CBED organizations statewide in developing viable financing and fund development strategies to plan and implement their community and economic development ventures (projects, programs, and businesses). In addition to this work, HACBED has also worked with various private and government agencies to increase access to financing and funding opportunities for community organizations including the following efforts: • City County of Honolulu—HACBED conducted the community revitalization project under contract with the City& County of Honolulu to design and establish the City's Section 108 Loan Program. • DBEDT's CBED Program—HACBED's founders established a CBED grant, loan, and technical assistance program within the State DBEDT. • ABC Fund—The Agenda for Building Community Fund, a hui of local private funders, provided non-traditional multi-year funding to 5 comprehensive community change initiatives on 3 islands. HACBED provided technical assistance to the Fund and its grantees. • Hawai`i Community Loan Fund—HACBED established this community development financial institution that was the first certified CDFI that focused on community-based economic development. 14