As you know from my previous columns, Truman Heartland Community Foundation is working to address the challenge of affordable housing in the communities we serve. As my column last month mentioned, 1 in 4 households in our community are cost-burdened, paying more than 30% of gross household income for housing, and 1 in 10 are paying more than 50%. Also mentioned was the fact that our public servants, like teachers, police officers, firefighters, and nurses, find it a challenge to find housing in the community they are serving.

One new tool your Community Foundation launched in 2025 is Mission-Related Investing. Our board of directors created the Community First Loan Fund to provide below-market-rate loans for affordable housing being built in our community. We took $900,000 in assets that were previously invested in bonds on Wall Street and are now investing them here on Main Street (in our communities). 

We have made 3 loans to date, and I am happy to report that the first loan we made to Truman Heritage Habitat for Humanity has been repaid after the completion of an amazing rehab of a home in Raytown. Last week I had the pleasure of attending the house blessing, touring the home, and meeting the new owners. 

Second, we have also made a loan to Community Services League (CSL) for the construction of 3 new homes in Independence, just off Noland Road. CSL is using innovative construction methods, including structured insulated panels, that reduce construction costs and create a well-insulated home. 

Finally, we made our first loan to a private developer, the Commonwealth Collective, run by Terrell Jolley and his business partner Kevin Vanderweide, to refurbish 16 units in 4 fourplexes in Raytown. While our first 2 loans were to nonprofits, we understand that the private sector plays a vital role in addressing this challenge. 

The $900,000 investment to create the Community First Loan Fund came from endowed funds under the oversight of our Board of Directors. We are now in conversation with some of our Donor Advised Fundholders to see if they would also like a portion of their fund invested in this loan fund for affordable housing, so we can grow the loan fund and its impact. 

This is a very complex challenge that will take many strategies to address.  We are interested in talking with developers/builders, city staff, elected leaders, financial institutions, and others who would like to explore how we as a community can address this challenge. One key partner in our work continues to be the Jackson County Health Department and their Housing and Economic Development Lab. They play a critical role in convening many of the entities that need to be engaged for us to address this affordable housing challenge. 

If you are interested in talking with me about this, I would be pleased to hear from you. (hanson@thcf.org, 816.912.4181)