The Rainier Valley Community Development Fund

The Rainier Valley is one of the most diverse neighborhoods in Seattle – culturally, ethnically, and economically. The Fund aims to focus on strengthening and preserving the community not only by investing in tangible assets such as businesses and facilities, but also by building networks of relationships and trust that allow the community to participate in determining their future well being.

The Rainier Valley Community Development Fund was born out of a genuine interest in preserving and honoring the history of the Valley and its residents. The Fund will strive to make investments that provide opportunities for residents, businesses and community organizations to thrive, participate and honor each others contribution and diversity. The Fund will invest in businesses that are impacted by the light rail project, encouraging existing businesses to remain in the Valley. Over the long term, the Rainier Valley Community Development Fund will invest in businesses and organizations that are responsive to community needs and encourage economic opportunities for local residents. These investments can take various forms, from loans to businesses to supporting the development of projects that increase transit ridership.

The long-term vision for the Fund is to use a portion of its assets to create a self-sustaining, community-controlled fund that supports community development in the Rainier Valley. This Community Development Program is initially being capitalized by public funds appropriated by the City of Seattle between 2005 and 2012. Of the total $50 million mandated for use in Southeast Seattle, up to $21.5 million is being spent on supplemental mitigation activities, and $2 million is earmarked for a four-year pre-apprenticeship job training program. The remainder is available for the Community Development Program. The RVCDF intends to supplement these public funds with private capital in the interest of expanding its reach.