A capital project, whether nonprofit or for-profit generated, requires long-range thinking and commitment. These
projects benefit from strategic financing approaches and implementation strategies that fit with the current and long-term direction of an organization.
To sponsor the development of a viable and sustainable asset, it takes a team with distinct and special expertise to design and attract appropriate financing. Project development requires an expanded organizational capacity that integrates with that necessary to implement primary business goals and operations.
Further, the executive staff and/or Board of a project sponsor must have the intention and commitment to provide sustained guidance, throughout the financing process, to its development team. In order to assess the commitment and capacity needed to launch a project, an organization should engage in a preliminary feasibility study supported by a third party community development professional.
TNG recognizes that some projects do not proceed beyond the concept development and feasibility phase. TNG believes it is as beneficial to project sponsors to know when and why to say “no” to a project (after completing a thorough feasibility study) as it is to say “yes” to a thoroughly vetted project opportunity. Projects are completed because of the leadership and commitment of the sponsor to engage the dynamic set of opportunities and challenges attendant to any new project development.
Jim Hlava, President, Cascadia Housing, Inc.