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New OZ Fund Will Bring Investment to Historically Black Colleges and Universities

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The opportunity zones (OZ) incentive is a community development tool that provides tax incentives to help unlock investor capital to fund businesses in underserved communities.

In the case of the Renaissance HBCU Opportunity Fund, the specific communities served are neighborhoods surrounding historically black colleges and universities (HBCUs).

The fund is a partnership between the HBCU Community Development Action Coalition and community economic development advisory firm Renaissance Equity Partners, with Calvert Impact Capital providing professional advice. The fund is expected to raise $50 million. Robert K. Jenkins Jr., senior managing director of Renaissance Equity Partners, said there have been some tentative commitments from investors at press time.

“Almost half of the HBCUs across the country are located in OZs,” said Jenkins.

The fund will finance mixed-use developments on or near HBCUs. Potential developments include bringing grocery stores to food deserts and health care facilities to medically underserved communities, along with creating housing for various populations.

“Many of these schools are in very distressed neighborhoods,” said Ron Butler, CEO of the HBCU Community Development Action Coalition. “The fund will have a tremendous impact. This new capital will attract additional capital to bring in other needed developments.”

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Sports

Stars and Stripes game featuring NFL legend Randy Moss and NBA legend Jason William teaming up again and more! – May 30th

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Tickets now on sale for the May 30th Stars and Stripes game.

Tickets can be purchased from TicketMaster or the Charleston Coliseum Box Office.

Prices for tickets are $50 and $25 for reserved seating.

General Admission is available for $15.

If you have any questions, please email selectcandc@hotmail.com. Any businesses interested in teaming up, we still have a few sponsorship packages remaining.

If you have any interest in signing a kid up for our 2nd Annual Skills Camp featuring Jason Williams, please do so at Selectcandc.com.

Also…..

Cost is $60 per kid and is open to boys and girls ages 8-18.

Camp sessions are May 30th for ages 8-12 and May 31st for ages 13-18.

Both sessions will be 8:30am – 12:30pm.

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15-year-old Kobe Bryant dominates slam dunk contest

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Entrepreneurship

KOBE BRYANT EXCELLED IN BUSINESS TURNING $6 MILLION INTO $200 MILLION WITH BODYARMOR

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The late Kobe Bryant, 41, didn’t just excel on the basketball court, he also achieved major successes in business.  An investment from six years ago proved to be a huge windfall for the late NBA star Kobe Bryant. In 2014, Bryant bought a 10% share of sports drink BodyArmor. Coca-Cola just purchased a minority investment in BodyArmor.

Bryant’s initial investment of $6 million turned into $200 million with the soft drink giant’s investment.

Read more at Black Enterprise

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