Bloomington, Indiana has become a hotspot for Community Development Financial Institutions (CDFIs) in recent years, attracting new businesses and investments. CDFIs are specialized financial institutions that provide affordable financing options to underserved communities, promoting economic growth and development.
CDFI-Friendly Bloomington has focused its efforts in our community. The impact of CDFIs on Bloomington’s economy has been significant, as they have helped to create new jobs, promote small business growth, and increase access to affordable housing. Local residents have praised the work of CDFI-Friendly Bloomington in the area, saying that they have played a vital role in creating a more equitable and inclusive community.
Jane Kupersmith is the new Executive Director of CDFI-Friendly Bloomington as of February 27th, 2023. Kupersmith has years of experience under her belt being a small business owner and now helps fund small businesses, affordable housing complexes and more for our community.
Interview with Jane Kupersmith, Executive Director of CDFI-Friendly Bloomington.
Bloomington Cooperative Living (BCL) is a unique housing cooperative located in Bloomington, Indiana that provides affordable and sustainable housing options for its members. The cooperative model is based on the principle of shared ownership and decision-making, allowing members to have a say in how the community is run and managed.
BCL currently funds four houses in Bloomington with a fifth house coming in August. With these four living spaces, BCL has created affordable homes for over 60 people.
Carsten Stolc is a local Bloomington resident who lives in the Middle Earth House. Stolc says that CDFI-Friendly Bloomington has given him so many more opportunities than he could imagine. With renovations occurring at the house, Stolc has been able to help out with that and also volunteer around the house helping other residents who live there.
In addition to providing affordable housing, BCL also fosters a sense of community among its members. The cooperative model encourages members to work together to maintain and improve the communities, creating a sense of ownership and pride in their homes. BCL has also been active in advocating for affordable housing and sustainable living practices in the community.
Stolc says it is their own community in that house and the people he lives with have become some of his lifelong friends. All of that is thanks to CDFI-Friendly Bloomington and the opportunities that they have given the people who reside there.
Interview with Carsten Stolc, resident at the Middle Way House.
One of the unique aspects of BCL is its commitment to diversity and inclusion. The cooperative has a diverse membership, including individuals of different races, genders, and socioeconomic backgrounds. BCL actively works to create an inclusive environment for all members, providing opportunities for community building and education around issues of social justice.
As the demand for affordable housing continues to grow in Bloomington and across the country, organizations like BCL are playing a critical role in providing sustainable and community-oriented solutions. By promoting the principles of shared ownership and decision-making, BCL is creating a model for affordable and inclusive housing that can be replicated in communities across the country.
The twelve-unit house that is right next to the Middle Earth House will offer even more bedrooms that are affordable and comfortable to live in. CDFI-Friendly Bloomington continues to grow and help the community that we have known to love.
Bloomington’s success in attracting CDFIs has not gone unnoticed, as other cities around the country are now looking to replicate the city’s model. The city’s commitment to supporting CDFIs and promoting economic growth has made it a model for other communities to follow. Bloomington’s future looks bright as it continues to attract new investments and businesses to the area.
