A new housing ecosystem where owners and renters benefit from the cash flow and wealth created in rental properties

Everyone deserves the opportunity for financial stability and wealth building through where they live

Housing as a Vaccine

Stable affordable housing, especially when paired with an intentional savings and wealth building program, is a vaccine against most struggles that people face. SPIF funding properties will support:

Economic stability and financial security
Child development and education
Social and community stability
Workforce participation and productivity
Psychosocial well-being

MIDDLE INCOME HOUSEHOLDS INCREASINGLY BURDENED

33%

Cost Burdened

Households at 60% of area median income (“AMI”) to 120% of AMI pay more than 30% of income on housing costs

23%

Growth in portion of households burdened

Since 2019. Recent surges in market rate development have not benefited these households

41%

Of Total Burdend Households

Middle Income households now make up a large portion of total cost burdened households

MIDDLE INCOME FINANCIAL STRESS

60%

Finances Getting Worse

Survey responses regardng impact of rising costs of living

37%

No Emergency Fund

Survey respondants unable to manage an unexpected $400 expense

48%

No Investments

Responded that they have no invesments through retirement funds or other opportunities

Middle Income Households

WHAT DO THEY LOOK LIKE?

60% to 80% AMI

One Income - customer service managers, nurses, techncians Two income - retail workers and supervisors, administration

80% to 100% AMI

One Income - Skilled trades, IT Support Two Income - teachers, public service, non-profit professionals, first responders

100% to 120% AMI

Income - small business owners, exerperienced trades people.

Income - Nurses, police officers, managers

STABLE RISK ADJUSTED RETURNS VS OTHER ASSET CLASSES

9.3%

Average Total Return

Based on study from 2011 to 2022.

2.6%

Standard Deviation

Lowest risk/volatility among all asset classes evaluated

0.3%

Correlation with S&P

Low to moderate correclation with stocks and bonds

Policy Momentum

PUBLIC SUBSIDIES

19 States

Have enacted various subsidy programs including tax abatements, tax credits, and dedicated funds.

Colorado

Colorado leads the way with four large statewide middle income funds and programs as well as numerous local subsides

12+ Local Governments

Local governments are increasingly creating targeted programs and dedicated funding sources.

SUBSIDIES ADDED TO CAPITAL STACK

Free or low cost
land

Municipalities may lease available land for affordable housing on long-term leases

Property Tax Abatements

Some municipalities wave property taxes in exchange for affordability covenants. Can be large subsidy in some markets

Low Rate Subordinate Debt

Below market rate foundation and public subordinate debt is increasingly available

Favorable Terms from Agency Debt

Fannie Mae and Freddie Mac have dedicated workforce products with lower DSCR, higher LTV, longer amortization, and lower spreads

TARGET MARKETS - GROWING METRO AREAS

Population growth particularly limits housing options and increases costs for middle income households.

Growth increases political will and support for subsides from both employers and residents.

Market rate boom and bust cycles have moderated shorter term impact on middle income households.

Opportunites for counter-cyclical investments due to steady long term demand for middle income housing.

TARGET MARKETS - RURAL RESORT COMMUNITIES

Geographic constraints for new development.

Workforce required to have long commutes or live in undersitable housing situations.

Mission and market supports higher average AMIs, due to wage levels and lack of housing options.

Strong politcial will and economic need to subsidize labor force.

Accessible free land and dedicated housing funds through short term rental taxes/fees.

SHARED PROSPERITY PROGRAM

Monthly cash back from first 1% of cash flow to the fund and long-term upside through voluntary IRR caps

Sharing of Portfolio Returns

Tenants benefit from total portfolio, diversified across markets and project timing

Passive Savings

Tenants get cash back monthly just for paying rent, which can accrue over time to support emergency funds and long term investing

Financial Coaching

AI powered and human financial coaching targeting “teachable moments” around cash back milestones and financial events

UNIQUE BENEFITS OF CASH BACK FOR RENT - WEALTH BUILDING

Not Reportable Income

Treated the same as cash back on any consumer purchase. Not reportable for either party for tax purposes

Credit Reporting

On time rent payments included to credit reports to support long term improvement

Lower Turnover

Cash back benefits effect move out decision to properties without such benefits

Longevity

Encourages longer term tenancy to increase benefits of the program and set tenants on path to wealth building

Shared Prosperity Services

Providing the full suite of cash back, coaching, and engagement services of the fund to any property owner or investor.

Partnering with the Shared Prosperity Investment Fund is not the only way to help build a new housing system where eveyrone benefits. The same program can be implemented at any property through a social enterprise paired with the fund.

We are bringing together seasoned expertise in large scale direct cash assistance, financial coaching, and technology to provide a highly engaging program of both tech enabled and human touch connections to help renters along the path from building an emergency fund to home ownership and/or long term investing.

TRACK RECORD

CHAI Equity Capital

$15 Million

Capital raised from foundations, quasi-government entity, and private investors.

7 Investments

Invested in both new construction and preservation in urban, rural, and resort markets

423 Units

Weighted towards “familiy size” units - 2, 3, and 4 bedrooms.

Prototype Program

Currently 165 households in the cash back program, improving tech and services to maximize engagement

The partners anticipate utiizing the fund management platform and team built for the CHAI Funds (Weave Fund Management, LLC) for the execution and management of the fund. Ed Briscoe is an owner and the executive chairman of that entity.

TEAM EXPERIENCE

Stephanie Wilson and Ed Briscoe

49 Years of experience in real estate lending, investment, and development.

$800 million in real estate transaction experience across the country.

4 million+ sf of real estate across industrial, commercial, medical office buildings, and housing.

WHERE WE INVEST

Target Markets & Pipeline

Select markets that balance demand, subsidy, and political support

Growing Metro Areas

Substantial gap between market rate and affordable rents, strong policy support

Healthly Living and Healthcare Access

Proximity to healthcare centers and public recreation facilities.

Rural Resort Communities

Workforce housing need near resort driven economies

Workforce Need and Lifestyle

Highly constrained affordable housing access in communities that naturally support healthy lifestyles

Park Place Apartments

80 units — 3 & 4 BR, 80–120% AMI

Adjacent to public recreation center and public transit hub

Innovative Subsidy

Middle Income Housing Tax Credit award (~$6M)

Join us in building a new housing ecosystem.

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