Economic Innovation International, Inc. 

 

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Development Finance Authorities

Economic Innovation has pioneered the creation of over $50 billion in dozens of publicly created, but independent development finance authorities since the late 1970s that mobilize private capital from global bond markets to solve public infrastructure and development needs.  These multipurpose state and municipal development banks undertake large scale development to build or rebuild whole neighborhoods, cities and regions, build new towns, redevelop abandoned military bases, create world class research centers for universities, build industrial and technology parks, do in-fill housing, affordable and mixed-income housing, and mixed-use development. The Council of Development Finance Agencies is the organization which represents the professionals essential to the success of the funds.  Following is a description of the paradigm fund designed by Economic Innovation and a list of the beta funds also created by the firm.

The Alpha Paradigm Fund:  Massachusetts Development  Finance Authority (1977)
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This preeminent $15 billion state development finance authority in the United States, undertakes more than $1 billion of new financing each year in an enormously diverse range of entrepreneurial products, including:
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 Building an entire new town on a former semi-rural military base.

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Triggering a $3 billion inner city mixed-use, mixed income housing, commercial, industrial, research and recreational redevelopment on the former Charlestown Navy Base on Bostonís waterfront.

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  Building as a turn-key project a $500,000 state of the art biotechnology research center for Harvard which is owned by MDFA but leased to Harvard and paid for with annual soft dollars from NIH.

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Underwriting many community development affordable housing infill projects. Decontaminating and renovating a large, failed Ď60s state office building next to Beacon Hill into a state-of-the art mixed use complex of mixed-income brick Beacon Hill townhouses and office buildings surrounding a Peace Park dedicated to children killed by domestic and urban violence.

Similar Beta Funds
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Alaska Industrial Development and Export Authority (1978)

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Arkansas Development Finance Authority (1985)

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Colorado Housing and Finance Authority (1982)

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Connecticut Development Authority (1987)

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Finance Authority of Maine (1983)

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Florida Development Finance Corporation (1994)

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Kansas Development Finance Authority (1986)

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Massachusetts' Economic  Development  Authority(1977)

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Nebraska Investment Finance Authority (1983)

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Virginia Small Business Financing Authority (1984)

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Washington Economic Development Finance Authority (1983)

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Wyoming Community Development Authority (1989)