Cultural District Capital Fund (38th St Thrive)
A nonprofit fundraiser supporting
Central Area Neighborhood Development OrganizationAnti-displacement fund for homes & commercial spaces within the 38th Street Thrive corridor
$1,000
raised by 1 people
$650,000 goal
in 11 months left
In 2025, residents of the four neighborhoods that surround George Floyd Square along with the 38th + Chicago Business Coalition (www.38thandchi.com) successfully organized for the first investment into the 38th Street Thrive Strategic Development Plan.
38th Street Thrive is a community developed plan to uplift the legacy of our neighborhood and stabilize the rapid displacement of Black residents and businesses from our community here in south Minneapolis.
The initial investment provided by the City of Minneapolis was a great start, however we know our community has been neglected for decades. Red lining, predatory lending and other forms of systemic racism have pushed legacies of displacement and disinvestment from Tens of millions of dollars is required to stabilize the residents and properties along the 38th Street Corridor. We aim to fundraise a matching amount of the initial $650,000 raised to jumpstart the Cultural District Capital Fund.
This funding (with oversight from the 38th Street United community coalition led by PPNA) has the capacity to prevent displacement of both residents and businesses in this corridor.
Excerpt from the 38th Street Thrive Strategic Development Plan:
| "The Thirty-Eighth Street Cultural District Capital Fund will pool together financial resources from the community to leverage that equity to pursue additional capital from other institutions; the City of Minneapolis, Hennepin County, local banks, financial institutions, foundation and universities. A major part of our vision is to preserve our economic vibrancy and creative identity (Our Vision on page 09). The fund gives us the ability to invest collectively in stabilizing the physical property and infrastructure in our community, such as building improvements to Sabathani Community Center or offering construction loans at low-interest rates to our residents and business owners. In addition, being a funding pipeline for community-led resilience initiatives guided by a participatory budget process to distribute the capital. The District’s community development corporation (Action 3.2 on pages 34-35) would be an ideal organizational structure to manage and utilize this fund on behalf of the district. Along with having the capacity to apply for and administer grants." |
The neglect our historic community is facing has been underway for decades.
It will take all of us to reverse the problem that our system created.
It may not be our fault, but it is our responsibility.
Will you join us?