LGFCU and DFI Are Supporting Local Revitalization Projects
Local Government Federal Credit Union, an ongoing supporter of the School's Development Finance Initiative (DFI), published an article in their membership magazine, Aim, titled "The Power of Partnership: How LGFCU and DFI Are Helping NC Towns Plan for Bright Futures."
The article focuses primarily on the City of Kinston and DFI's work in the Mitchelltown neighborhood, where DFI has been working since 2011 to help city government officials plan for and launch an ongoing economic development plan. This plan is now a reality and has transformed Mitchelltown into a thriving tourist destination.
DFI helps governments like Kinston's properly assess risks and create the right environment for private development to occur. DFI has worked on 139 projects in 85 communities across North Carolina, most of which are economically distressed.
DFI's work has helped Kinston secure $4 million in private investments for Mitchelltown and $8 million for their downtown area. The City has invested financially as well.
“We’re doing what people thought couldn’t be done,” added City Manager Tony Sears in this article. “[There are] new restaurants, new places to go. There’s a feeling of change and vibrancy. The nature of our relationship with DFI will change going forward, to how we continue to foster this momentum.”
DFI was created in 2011 as an academic and service program at the School of Government in response to requests from North Carolina public officials for specialized finance and development assistance. LGFCU has been a founding supporter of DFI since its inception as part of its mission to improve the lives of its members.
