Social Objectives
When a nonprofit sponsors a commercial or mixed-use real estate development it is sometimes difficult to clearly state what the social purpose of the projcet is. It is important that sponsors clearly state in writing why the nonprofit has decided to consider this type of development, how that relates to the nonprofit’s mission and what kind of outcomes the project should be expected to generate (ie. jobs, below market rents, etc.)
Key Questions:
- How does this project further the organizations mission?
- What is the primary objective of this project?
- How will success be measured?
The Social Objective for a specific project should be much more specific than the organization's Mission Statement.
The Social Performance Matrix lists some common objectives and provides examples of appropriate targets and methods of tracking.
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Social Performance Matrix
This tool identifies some different standards that might be used for tracking the social performance of commercial real estate projects.
TNDC Leasing Policy
This is a draft policy developed by staff at the Tenderloin Neighborhood Development Corporation to outline social and financial objectives for leasing their ground floor retail space.
Employee Certification Form
This form was used by the East Bay Asian Local Development Corporation to track the income level of employees that were hired by tenants at Swans Market.
Hiring Agreement Lease Attachment
This is an example lease attachment through which a commercial tenant agrees to participate in a hiring program.
Advantages of Mom and Pop Businesses
This is a summary of some research on the economic benefits of locally owned small retail businesses.
Sample Tenant Selection Criteria
This is a sample memo from a CDC about the criteria they used for choices around tenanting for their commercial space.
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