NEWPORT BEACH, Calif., June 10, 2021 /PRNewswire/ -- On Thursday, June 3rd, RevOZ Capital celebrated progress on its $1B Social Impact Initiative through a series of events in Southern California.
In San Bernardino, California, RevOZ joined with top local, state, and national leaders to commemorate the opening of San Bernardino County Department of Behavioral Health ? Juvenile Justice Program (JJP) Facility. Joined by U.S. Senator Tim Scott of South Carolina - the co-author of the original federal Opportunity Zone legislation - RevOZ Capital Managing Partner Lisa Merage and local leaders cut the ribbon on a new 11,375 square foot facility financed with RevOZ's Opportunity Zone capital. The facility will serve an estimated 400 - 900 families per year, advancing the JJP's mission to provide a comprehensive and effective continuum of adolescent behavioral health care for justice-involved youth, in or out of custody, who have mental illness.
"The Juvenile Justice Program reduces recidivism, promotes wellness and recovery, and enhances the quality of life in our county," said Board of Supervisors Chairman Curt Hagman. "Also, this project was developed in a Qualified Opportunity Zone, which benefits both the public and private sectors and creates vital community benefit. The value of bringing new investment to underserved communities underscores the importance of this program."
"This project embodies so much of what RevOZ aspires to achieve," said Lisa Merage, RevOZ Capital Managing Partner and Chair of the RevOZ Social Impact Council. "We believe deeply both in the potential of emerging communities like San Bernardino, and in the potential of Opportunity Zone investments to create real economic, financial, and community benefits. We thank all of our partners for their support on this project, and are excited to explore further opportunities in the community to create economic and social impact."
In Newport Beach, RevOZ convened the first-ever in-person gathering of the funds Board of Advisors and Social Impact Council for a luncheon to discuss recent progress and plans for the next phase of growth. Both are comprised of a diverse multidisciplinary and bipartisan leaders in real estate, finance, policy, community development, and philanthropy.
Finally, RevOZ teamed up with the nonprofit trade group CalOZ and co-sponsors JTC Americas and UBS to convene a first-ever Social Impact OZ Summit. Over 100 regional leaders, investors, and professionals active in the Opportunity Zone landscape heard from several top OZ leaders:
- Hon. Tim Scott, Senator from South Carolina and OZ legislation co-sponsor
- Hon. Stephanie Rawlings-Blake, RevOZ Social Impact Council and former Mayor of Baltimore
- Hon. Mick Cornett, RevOZ Social Impact Council and former Mayor of Oklahoma City
- Chris Cox, RevOZ Advisory Board member and Former Chairman U.S. Securities and Exchange Comm (SEC)
- Josh Childress, RevOZ Social Impact Council and CEO of Landspire Group
- Reid Thomas, Managing Director & Chief Revenue Officer, JTC America
- Alex Bhathal, Managing Partner, RevOZ Capital
- Lisa Merage, Managing Partner and Social Impact Council Chair, RevOZ Capital
- Kunal Merchant, President and Co-Founder of CalOZ
"Already millions of Americans have seen and benefited from the incredible potential of Opportunity Zones across the nation," said Senator Tim Scott. "I am amazed by the great work being done here at the San Bernardino Medical Center and look forward to hearing the success stories that come from their efforts."
The event commemorated the significant progress RevOZ has made A's a leader in the state and national Oz investment landscape. Earlier this year, RevOZ announced a $1B Social Impact Initiative, which includes formation of the Social Impact Council, and commitment to make significant investments into emerging OZ communities across the nation.
For more information on RevOZ Capital, please visit www.revozcapital.com.
About RevOZ Capital
RevOZ Capital facilitates the revitalization of Opportunity Zones by providing co-investment capital for institutional quality projects. RevOZ's proven approach is a product of the founders' deep experience in urban redevelopment, capital markets and decades of cycle-tested commercial real estate (CRE) experience. RevOZ has been recognized as a pioneer in the Opportunity Zone arena and was named "Opportunity Zone Investor of the Year" by Globe St. in 2019. RevOZ has developed unrivaled expertise in navigating the regulatory complexities as well as a rigorous deal selection process for qualifying Opportunity Zone projects.
SOURCE RevOZ Capital
These press releases may also interest you