Open Society Taps Three Sites to Spur Local Progress
Support from the Foundation Expected to Last from Three to Ten Years
NEW YORK, Jan. 16, 2014 /PRNewswire-USNewswire/ -- Buffalo, San Diego, and Puerto Rico will receive $1.9 million each over two years to bring about lasting local change, the Open Society Foundations announced today. The sites are part of the new Open Places Initiative, which aims to increase the ability of communities to work together to secure greater justice and opportunity for their residents. The foundation anticipates funding the sites for at least three years and, in some sites, as long as ten years.
"The Open Society Foundations has a long-term interest in addressing equality, justice, and democratic practice at the local level, said Ken Zimmerman, director of U.S. Programs at the Open Society Foundations. "As part of our core belief in the importance of a robust and capable civic sector, we are excited to be helping these local communities develop their capacity to promote civic, political, and economic opportunity for all their residents. By investing in collaborations between non-profit organizations, and supporting them in their partnerships with government, business, and community, we aim to expand their potential to pursue effective responses to the profound demographic, economic, and technological changes that are taking place throughout the country."
The participating groups in each Open Places site determined their own priorities and plans to catalyze local systemic change over the long term, responding to the most pressing needs of their communities.
Buffalo: In a city reeling from manufacturing job loss, the Buffalo group plans to engage the community in the creation of a high-road economic development strategy that will provide quality jobs for marginalized communities. It will work to reduce the flow of students into the criminal justice system through sound policy reform as well as create an arts network to engage residents and artists to advocate for a more open and inclusive Buffalo.
Organizations in the Buffalo team include Partnership for the Public Good, PUSH Buffalo, VOICE-Buffalo, and Coalition for Economic Justice. Other collaborators in the Open Buffalo plan are Buffalo Peacemakers, Citizen Action/Public Policy and Education Fund, Clean Air Coalition of WNY, Community Health Worker Network of Buffalo, Erie County Restorative Justice Coalition, Investigative Post, Prisoners are People Too, Public Accountability Initiative, WNY Council on Occupational Health and Safety, and Cornell University ILR School. Foundation partners include John R. Oishei Foundation, Community Foundation of Western New York, Margaret L. Wendt Foundation, and the Western New York Foundation.
San Diego: In a region that is reliant on the military as a primary economic driver, this team will work to advance policies that promote social and economic stability for the region's most vulnerable residents, specifically immigrants and people involved in the criminal justice system. It will focus on improving access to middle income jobs, advancing policies that strengthen workers' rights, and engaging the social service sector to improve the quality of service provision by local government.
Organizations in the San Diego team include Employee Rights Center, Center on Policy Initiatives, San Diego Organizing Project, ACLU of San Diego and Imperial Counties, Christie's Place, San Diego Youth Development Office, Pillars of the Community and SEIU/Service Employees International Union, Local 221, and United Domestic Workers, Local 3930. Foundation partners include the Ford Foundation, the California Civic Participation Funders (California Endowment, Color of Democracy Fund, Evelyn and Walter Haas, Jr. Fund, James Irvine Foundation, Kapor Center for Social Impact, McKay Foundation, PowerPAC Foundation, Rosenberg Foundation, Women's Foundation of California), the San Diego Grantmakers, and the Jacobs Center for Neighborhood Innovation.
Puerto Rico: On an island facing very difficult social and economic situations, high unemployment, and very low labor participation rates, there is an urgent need to strengthen the civic sector. The Puerto Rico team seeks to increase equity and improve democratic practice for the most marginalized while building its capacity to advance long-term change. Its initial work will focus on increasing government transparency, creating new models to facilitate access to legal representation in civil cases, and launching initiatives to create income supports and encourage savings for low-income residents.
The Center for a New Economy currently guides the work in Puerto Rico. Its primary partners include the ACLU of Puerto Rico, the University of Puerto Rico Law Clinic, the Center for Investigative Journalism, Angel Ramos Foundation, Banco Popular Foundation, and Flamboyán Foundation.
The Open Society Foundations has long recognized that local communities have deep knowledge of the barriers and opportunities in their own region. It founded the social justice laboratory OSI-Baltimore in the late 1990s and has invested in other place-based initiatives such as the Young Men's Initiative, addressing broad disparities facing black and Latino boys in New York, and efforts to create an open city government and engaged citizenry in New Orleans. The foundation seeks to glean lessons from the Open Places sites and incorporate these into future work in other cities, regions, and states.
"Buffalo, San Diego, and Puerto Rico have exciting plans that extend beyond their current capacities and agendas to manage both challenges and opportunities in ways that further local equity and justice," said Diana Morris, Director of OSI-Baltimore, the field office for U.S. Programs, who is spearheading the initiative at the foundation. "We're proud to be working with them."
The three Open Places sites were awarded the grants after a rigorous and competitive selection process. They, along with five other sites from around the country – including Albuquerque, New Mexico; Denver, Colorado; Jackson, Mississippi; Louisville, Kentucky; and Milwaukee, Wisconsin – were awarded planning grants in April 2013.
The Open Society Foundations work to build vibrant and tolerant democracies whose governments are accountable to their citizens. Working with local communities in more than 100 countries, the Open Society Foundations support justice and human rights, freedom of expression, and access to public health and education.
SOURCE Open Society Foundations
RELATED LINKS
www.soros.org
Bloomberg - Feb 6, 2014
The U.S. commonwealth of 3.6 million people is set to issue bonds to help plug budget... Read More. The U.S. commonwealth of 3.6 million people is set to issue bonds to help plug budget deficits and stave off a deeper downgrade. Close. Close. Open.
Fox News Latino - Feb 6, 2014
Puerto Rican officials on Wednesday rushed to propose new measures aimed at boosting the island's economy and appeasing bondholders a day after credit rating agency Standard & Poor's downgraded the U.S. territory's debt to "junk" status. Meanwhile ...
New York Times - Feb 6, 2014
Standard & Poor's lowered Puerto Rico's credit rating to junk status on Tuesday, but on Wednesday, the market responded with barely a flinch. While prices of some of the island's bonds traded lower, there was nothing close to the kind of mass sell-off that ...
New York Times - Feb 6, 2014
An abandoned house in Ponce, on Puerto Rico's southern coast. S.&P. Alvin Baez/Reuters An abandoned house in Ponce, on Puerto Rico's southern coast. S.&P. has cut the commonwealth's credit rating to junk. Investors' faith in Puerto Rico's debt appeared ...
Bloomberg - Feb 6, 2014
Feb. 6 (Bloomberg) -- Bloomberg Economics Editor Michael McKee examines Puerto Rico's economic troubles and its importance to U.S. markets on Bloomberg Television's “Bloomberg Surveillance.” Please enable JavaScript to view the comments powered ...
<a href="http://Philly.com" rel="nofollow">Philly.com</a> - Feb 6, 2014
We wrote earlier this week about what investors expected if and when Puerto Rico's municipal debt was downgraded to "junk" status. Now that the downgrade has happened, what are bond investors doing to take advantage of the market weakness?
The Australian Financial Review - Feb 5, 2014
Standard & Poor's cut Puerto Rico's credit rating to junk status, in the latest blow to an economy that has been battling chronic recession. Photo: Reuters. Investors including BlackRock and Vanguard Group say Puerto Rico's finances hinge on its ability to carry ...
Reuters - Feb 5, 2014
NEW YORK Feb 5 (Reuters) - Puerto Rico will face trouble selling bonds after Standard & Poor's cut its credit rating to junk status, spelling possible trouble for the cash-strapped U.S. territory as it tries to push ahead with debt deals worth as much as $2 billion, ...
Reuters - Feb 5, 2014
Feb 5 (Reuters) - Puerto Rico is teeing up sizeable debt deals that may include securities from an untested borrowing agency, financial industry sources said, a move that could take on new urgency after Standard & Poor's cut the island's credit rating to junk.
Reuters Blogs (blog) - Feb 5, 2014
Welcome to the Counterparties email. The sign-up page is here, it's just a matter of checking a box if you're already registered on the Reuters website. Send suggestions, story tips and complaints to <a href="mailto:Counterparties.Reuters@gmail.com">Counterparties.Reuters@gmail.com</a>. Yesterday in forgone ...
Reuters Blogs (blog) - Feb 5, 2014
Ryan McCarthy has a good round-up of Puerto Rico's debt problems, which have now been exacerbated by S&P downgrading the island's bonds to junk status. (Moody's and Fitch are certain to do so as well, in short order.) For a good one-stop overview of ...
AFP - Feb 5, 2014
San Juan — Puerto Rico said Wednesday it would further reduce its deficit and seek to renegotiate some of its debt, a day after seeing its credit rating cut to junk status. Responding to new pressure on its finances, Governor Alejandro Garcia Padilla ...
Bloomberg - Feb 5, 2014
This man's job just got harder: He's Puerto Rican Governor Alejandro Garcia Padilla,... Read More. This man's job just got harder: He's Puerto Rican Governor Alejandro Garcia Padilla, and the island's debt has just been downgraded to junk. Photograph by ...
Reuters - Feb 5, 2014
NEW YORK Feb 5 (Reuters) - Puerto Rico's governor on Wednesday said he will renegotiate loans requiring accelerated payments of as much as $940 million because the heavily indebted Caribbean island lost its investment-grade credit rating. Gov.
Wall Street Journal - Feb 5, 2014
Puerto Rico's bonds inched higher a day after Standard & Poor's cut the island's credit rating to junk status, as some buyers are relieved to have the event behind them, according to traders and investors. "The markets can now trade without the heavy weight of ...
Wall Street Journal (blog) - Feb 5, 2014
One muni bond analyst came out swinging after S&P downgraded the credit rating of Puerto Rico to junk status and warned that the island nation could see its debt rating cut further in the next few months. “The action appears to be driven by S&P's concern ...
San Francisco Chronicle - Feb 5, 2014
(Updates with investor comment under heading 'Deal Hinge.' Feb. 5 (Bloomberg) -- Yields on some Puerto Rico bonds fell to a two-month low as investors said yesterday's cut to junk status spurred buyers who had been delaying purchases in anticipation of a ...
Daily Times - Feb 5, 2014
WASHINGTON: Standard & Poor's on Tuesday cut the debt rating of Puerto Rico to junk status, saying the US territory is facing a liquidity squeeze due to high debts and a high deficit. S&P lowered Puerto Rico's rating by one step to the “speculative” grade of ...
Wall Street Journal - Feb 5, 2014
Puerto Rico has shown the "political will" to tackle its financial problems, but more must still be done, a U.S. Treasury spokesperson said. Tourists in January walk near the 16th century Spanish fort called El Morro in Old San Juan, Puerto Rico. Associated ...
Businessweek - Feb 5, 2014
A vacant building on Nov. 12, 2013 in the Santurce neighborhood of San Juan, Puerto Rico. Photographer: Christopher Gregory/Getty Images. Standard & Poor's cut Puerto Rico to junk yesterday, catching up with investors in the $3.7 trillion municipal market ...
NPR (blog) - Feb 5, 2014
A day after S&P downgraded Puerto Rico's credit rating to junk status, the White House said it was not contemplating a bailout for the island. Reuters reports: "A White House spokeswoman declined to comment about the S&P move specifically but said the ...
Huffington Post - Feb 5, 2014
SAN JUAN, Puerto Rico (AP) — Puerto Rican officials on Wednesday rushed to propose new measures aimed at boosting the island's economy and appeasing concerned bondholders a day after credit rating agency Standard & Poor's downgraded the U.S. ...
Financial Times - Feb 5, 2014
A strong rally in municipal bonds at the start of the year may stall in the aftermath of Puerto Rico's downgrade to junk status by Standard & Poor's, analysts said on Wednesday. After losses and massive redemptions in 2013, bonds sold by states and ...
Slate Magazine (blog) - Feb 5, 2014
Despite the bosses' continued refusal to send me on a winter reporting trip to Puerto Rico, the economic and finance situation there continues to roll downhill as S&P downgrades Puerto Rico's bonds to junk status. The big problem for Puerto Rico right now is ...
Christian Science Monitor - Feb 5, 2014
Puerto Rico's governor says he is renegotiating the payment of short-term debt and has ordered all government agencies to reduce their current budgets by 2 percent after the island's credit rating was downgraded to junk status. Skip to next paragraph.
Reuters - Feb 5, 2014
NEW YORK Feb 5 (Reuters) - Puerto Rico bond prices were mixed on Wednesday, with some issues slumping and others perking up from lows touched after Standard & Poor's knocked the Caribbean island's overall credit rating into junk-bond territory.
Reuters - Feb 5, 2014
WASHINGTON Feb 5 (Reuters) - The White House said on Wednesday it was still not considering a bailout for Puerto Rico after Standard & Poor's on Tuesday cut its credit rating to junk status. A White House spokeswoman declined to comment about the ...
USA TODAY - Feb 5, 2014
Standard and Poor's lowered the debt of Puerto Rico to junk status Tuesday, making it more difficult for the cash-strapped island to raise money. S&P downgraded Puerto Rican debt from to BB+ from BBB- with negative implications, meaning that further ...
CBS News - Feb 5, 2014
A worker sweeps up litter on November 14, 2013 in San Juan, Puerto Rico. The Government remains the largest employer in Puerto Rico and can only service about 11 percent of the pension costs out of its budget. Christopher Gregory, Getty Images. Shares.
Forbes - Feb 5, 2014
UBS Puerto Rico bond investors better look out; the giant investment bank's research analysts just dropped the first shoe on your heads. Last week, UBS issued a report stating that at least one of the Big 3 rating agencies, Moody's, Fitch or Standard & Poor's, ...
Read the whole story
· · · · · · ·