Innovations in Finance and Development
September 5, 2018, 10:45 AM - 12:00 PM
Jake Edwards, Social Finance
Derrick Pryor, AES Development LLC
Prepare to think outside of the norm in this session! Attendees will learn the ins and outs of Social Impact Bonds, also known as Pay for Success financing. This emerging financing tool brings together the public, private and social sectors to successfully tackle social challenges.
Innovation is also strong in development. Derrick Pryor, AES Development as the developer of The Cargominium Project, the first of its kind in Ohio and currently the largest in the United States. The homes are occupied by low-income residents, including many “in transition” such as those recovering from addiction or moving out of prisons or homeless shelters.
Mr. Pryor will demonstrate how cargo construction is serving as a solution to the public problem of a lack of affordable housing in Ohio. Made from 100% “up-cycled” former containers, The Cargominium Project recycles and reuses a material that otherwise continues to stack up at ports in and around the country. The material is energy efficient and costs less than traditional building technology.