The question wasn't particular to OKC -- we get asked "why here" wherever we convene our Advisory Council. And in the case of our meeting last week, the answer is straight forward -- Oklahoma City was simply perfect for an organization focused on building community wealth through inclusive investment and infrastructure improvements:
Oklahoma City was chosen as one of our three initial cities to deploy our Investment Prospectus tool, helping launch a model to attract inclusive investment now adopted by 43 cities and counting.
Oklahoma City is asking its voters to vote on MAPS 4, an innovative infrastructure measure with elements inspired by past Accelerator convenings.
OKC Mayor David Holt exemplifies the practical leadership found in America's local communities that must work together to move our nation forward despite Washington's dysfunction. He recently joined our Advisory Council and we are fortunate for that.
Against that backdrop, we updated our Advisory Council on our inclusive investing program work and our work to help win $14 billion for local infrastructure. We heard from the Michigan Municipal League on how the Accelerator could benefit its member cities through a partnership, about which more soon; we were briefed by Doug Mann from HNTB on our 2019-20 infrastructure targets; and we will work with Ross Baird and Blueprint Local to begin inclusive investment work in at least three cities.
We cosponsored Erie Homecoming 2019. Why? Because Erie was a first mover on Opportunity Zones as a tool within their kit to steer capital toward inclusive investments. Erie was one of the first cities to use the Accelerator's Investment Prospectus tool to help assure that investment benefits those who need it most, not just those who seek a tax break. Erie Homecoming was the venue to announce the Erie Insurance Company's new $50 million Qualified Opportunity Fund and Capzone's $10 million QOF to invest with the Erie Innovation District, the latter a direct result of Accelerator's Investment Summit last spring.