We are delighted to announce that our work with the City Council to develop a place-based social investment programme for Cambridge has achieved a key milestone. The City Council has agreed to cover the first £200k of expenditure to build a new organisation, known for now as Greater Cambridge Impact.
The organisation will raise funds and make investments in collaborative programmes to address key social issues in Greater Cambridge. The fund has been designed around the collaborative approach adopted by It Takes a City.
A further £800k has been committed in principle subject to the new organisation securing £5-£10m of other investments. An Executive Director is to be recruited, and a small team.
A small Development Board has been set up comprising Antony Ross OBE (Advisor, Bridges Fund Management), Robert Pollock (CEO, Cambridge City Council), Tabitha Goldstaub MBE (CEO, Innovate Cambridge), Dominic Llewellyn (CEO, AchieveGood) and Chris Jenkin BEM (Chair, It Takes a City and It Takes a City Community Land Trust).
Addressing housing and homelessness will be one of the four main objectives of the new fund. This report gives more detail on the case for such a fund.