The term “social impact” implies that something good has or will be done for someone(s) in the community. However, these impacts may be positive or negative. Or both. Therefore, balancing these two opposing forces is a key consideration for any organization intending to get involved in social impact projects.
Galena Opportunity Fund (GOF) strives to blend a positive social impact with every one of their property developments. In order to place greater weight towards positivity, GOF focuses impact on core human needs. Shelter the most obvious, of course. But we also believe affordable housing allows families and individuals to enjoy an increase of their disposable income.
Government agencies have worked hard to provide services and supplies to low-income families (those that fall under 80% AMI). But if you make $1 more than that threshold you lose out on those benefits. This leaves some people in a worse situation than their peers who qualify for “low income” benefits.
GOF, therefore, has created an investment model for people that make a “moderate income” (those that fall between 80-120% of AMI). These are typically our firemen and women, police officers, teachers, and construction workers to name a few. This “workforce” critical to the health, education and security of our communities.
Workforce housing is an essential component of any healthy community. By providing quality, affordable housing GOF opens the door for these families to spend more dollars on food, medical supplies and even items related to family activities and relaxation. Workforce housing opens the door for a better living experience which, in turn, promotes wellness and mental health.