South Fields Nourishment Bank (Non-Benefit Proposition) - PowerPoint PPT Presentation

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South Fields Nourishment Bank (Non-Benefit Proposition) PowerPoint Presentation
South Fields Nourishment Bank (Non-Benefit Proposition)

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South Fields Nourishment Bank (Non-Benefit Proposition)

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  1. South Plains Food Bank (Non-Profit Proposal) Sharba

  2. RFP: Share Our Strength's Great American Dine Out Grants • Mission : To support projects that help connect children who are at risk of hunger with nutritious food where they live, learn and play. • Grant Amount: $10,000. • Priorities: The proposed project must accomplish the following. • Increase programs that provide food to children and their families • Strengthen community resources that connect children to these programs • Educate families about nutrition • Facilitate families’ access to services, especially in vulnerable or underserved communities • Projects must be completed between January 2009 and December, 2009.

  3. Proposed Project: Win a grant award of $10k to open a new Kids Café site in Lubbock. Current Situation (S1) Desired Situation (S2) • Currently have 12 Kids Café sites • 12 sites serve 300 hungry children • Limited number of neighborhoods • served by Kids Café • Open new site and strengthen • community resources • New site will introduce 100 more • children nutritious food = better quality • of life for nearly 100 more families • New locations would make it possible • to reach out to vulnerable and • underserved communities

  4. Funding - Funding for HHH is needed for Business Startup $202K Initial office space ($60Kx.4): $24K Salaries & Contractor Fees (1st year) $130K Principal/GC: $75K Office Help: $15K Security: $40K Equipment $48K Office: $15K Tools: $25K Truck: ($20Kx.4): $8K Operations (1 year of expenses) $148K Insurance: $25K Taxes: $25K Utilities: $32K Vehicles/Travel: $12K Mortgage Debt Service (Office-20yr): $4K Mortgage Debt Service (180K-10yr): $25K Business Debt Service (176K-10yr): $25K G&A: $10K Inventory & Projects $300K Purchase 1st 10 houses ($300x.4): $120K Renovations on office and 1st 6 homes: $180K Income from Sales: $75K (yr1); 110K; 148K; 180K; 250K HHH –Helping Hands Homes Potential Funding Sources • Loan from the Meadows Foundation • Bank loans • Federally-guaranteed SBA loan • Grant from Meadows Foundation • Preservation Dallas • City of Dallas Impact – South Dallas community revitalization Measurable goals: Renovation of 3 houses within 1st year; Sale of 5 houses within 1st year; 35 in 5 years Break-even in 6 years Original debt paid in 10 years

  5. Current Situation (S1) South Dallas in decay Vagrancy, vacancies, lead to high crime in area and safety issues for the current residents High joblessness Many vacant homes Many homeless Desired Situation (S2) Preserve and restore the character of beautiful “old” south Dallas neighborhoods Restore habitable homes Recruit locals for office, labor, and security work Setup business office and warehouse in area Impetus for other businesses to move to the area Not a free ride: all homeowners must qualify for loans, but because the homes are inexpensive, it is easier Goal: Obtain Startup Funding for HHH