In the case of the Renaissance HBCU Opportunity Fund, the specific communities served are neighborhoods surrounding historically black colleges and universities. The fund is a partnership between the HBCU Community Development Action Coalition and community economic development advisory firm Renaissance Equity Partners, with Calvert Impact Capital providing professional advice. The fund will finance mixed-use developments on or near HBCUs. Kresge and Rockefeller Foundations’ Incubator The Renaissance HBCU Opportunity Fund has been selected for the Kresge and Rockefeller Foundations’ OZ incubator, which provides technical assistance to bring funds to market. HBCU Community Development Action Coalition has been looking into the OZ incentive since the inception of the incentive. The Renaissance HBCU Opportunity Fund is working with HBCUs to develop a pipeline of projects, including mixed-use developments with housing and services and/or retail. “One, involve HBCUs in the design of the projects. Give them a voice. Two, is the direct impact of creating more vibrant commercial corridors/housing options, which will attract students and professors. And three, how to structure the long-term benefit or ownership of these projects to benefit the universities themselves, potentially giving HBCUs an ownership option for projects after the 10-year investment period,” said Bafford.