$3.1 Million in Racial and Economic Justice Grants Awarded

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May 15, 2024

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$3.1 Million in Racial and Economic Justice Grants Awarded

In a significant step towards fostering racial and economic equity, The Minneapolis Foundation has announced the recipients of its Racial and Economic Justice Grants naming MCCD as a recipient. 

The funding supports organizations and projects that:

  • Advance structural and systems change through policy advocacy, organizing, and movement building.
  • Invest in economic systems and practices that build wealth and stabilize communities.
  • Advance narrative strategies focused on racial and economic justice.
“For too long, traditional economic development practices have inflicted economic, social, and political harm on BIPOC and low-wealth communities. At MCCD, we see shared ownership as an approach that repairs this harm and builds community wealth.” – Elena Gaarder, CEO of MCCD

With the support of The Minneapolis Foundation and racial and economic justice at the core of our work we will continue to advance policy, create access to capital, and provide technical assistance to expand worker owned cooperative development.

Home and Community-Based Service Cooperatives

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February 16, 2024

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Home and Community-Based Service Cooperatives

It’s National Caregiver Day! Ever wondered what happens when caregivers come together? They develop cooperatives that are building wealth among workers and providing exceptional care for their clients!


Despite the benefits to workers, their clients, and the community, there are very few Home and Community-Based Service cooperatives in Minnesota. Our Director of Shared Ownership, Electra, has been busy expanding shared ownership opportunities to our BIPOC and underinvested communities. We are currently working with 5 worker-owned home care businesses providing financial support and technical assistance to address the unique legal, business, and organizational characteristics of cooperative and employee-owned business models!


The owners of Cardinal Comfort Care LLC embraced the worker owned model and is now thriving with a mission to create a Care Model that puts caregivers and their clients first. By offering member ownership to raise wages and offer innovative training opportunities that create competent compassionate quality care for their clients.

Shared Ownership Collaborative St. Paul

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February 13, 2024

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Shared Ownership Collaborative St. Paul

One of our guiding goals for this years legislative session is to create and expand shared ownership opportunities to support worker-cooperatives, real estate strategies, and housing cooperatives to promote wealth-building, prevent displacement, and ensure community control of assets in BIPOC and intentionally underinvested communities!


Integral to achieving this objective is our collaboration with organizations including our Shared Ownership Collaborative St Paul! This collaborative is BIPOC-led organizations working together with a shared belief that our communities should have the power, resources, and support to control and make decisions about their land, jobs, and housing. Our collaboration includes Metropolitan Consortium of Community Developers, Model Cities of St. Paul, Rondo Community Land Trust, and West Side Community Organization (WSCO)

Embracing Shared Ownership

Embracing Shared Ownership
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January 9, 2024

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Embracing Shared Ownership

Embracing Shared Ownership! When Mychael and Stephanie Wright decided to retire, they chose a unique path by selling their business Golden Thyme Coffee & Cafe to Rondo Community Land Trust. Together, they crafted Golden Thyme Presents, a cooperative serving as an incubator for entrepreneurs and food vendors who are Black, Indigenous or other people of color.

“In times of crisis, but also as economies are in periods of growth, a shared ownership is a tested and proven model that can take communities further together,” -Electra Skrzydlewski, MCCD’s Director of Shared Ownership.

 

StarTribune, January 8, 2024 – You’ve built a business that’s ready to sell. Here’s how some Twin Cities entrepreneurs did it. Whether it’s an investor-backed startup looking for a substantial profit by selling the business or a person near retirement, having an exit strategy or succession plan is imperative.

Capital Strategies Symposium

Capital Strategies Symposium
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November 14, 2023

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Capital Strategies Symposium

MCCD along side Mni Sota Fund and Shared Capital Cooperative in collaboration with the MN Small Business Administration District Office held a Capital Strategies Symposium today. The morning was full of insightful conversation on building a more inclusive finance system.


We were joined by leaders in lending, community and economic development, philanthropy, and government discussing shared ownership enterprises and advancing racial equity and wealth building in BIPOC communities.

Special thanks to our speakers and panelists!

Speakers:
Geri Sanchez Aglipay, Regional Administrator, SBA
Neela Mollgaard, Executive Director, DEED Office of Small Business Innovation
Mayor Melvin Carter, City of Saint Paul

Panelists:
Jamar Smith, Executive Director, NICE MN
Kit Fordham, Executive Director, Mni Sota
E. Coco, Deputy Director, Rondo Community Land Trust
Christina Jennings, Executive Director, Shared Capital Cooperative

Minnesota Department of Employment and Economic Development, U.S. Small Business Administration, City of Saint Paul – Government, Sunrise Banks, Rondo Community Land Trust