Deutsche Bank is teaming with Living Cities, a partnership of 22 foundations and financial institutions, to invest up to $80 million in five U.S. cities in a new effort called The Integration Initiative. The goal is to seed key innovations that address intractable problems affecting low-income people.
The cities – Baltimore, Cleveland, Detroit, Newark and the Twin Cities – were selected following a highly competitive process. Their proposals demonstrate a commitment among public, private and nonprofit partners to collaborate on housing, transit, jobs and other needs. Projects include creating jobs and neighborhood improvement in Central and East Baltimore and improving health and wellness in low-income areas of Newark.
“The Integration Initiative was designed to take advantage of all we have learned about catalyzing change in cities over the past 20 years,” said Living Cities’ CEO Ben Hecht.
“We hope our investments will facilitate collaboration across sectors, align capabilities, leverage resources -- and ultimately create new models for how urban systems and practices can work effectively to create opportunities for low-income communities”, said Gary Hattem, president of the Deutsche Bank Americas Foundation and a Living Cities board member.
Living Cities announced the winners at a ceremony in Detroit in October.
Mayors from the winning cities participated in the October 2010 launch of The Integration Initiative. From L to R: Cleveland Mayor Frank Jackson, Baltimore Mayor Stephanie Rawlings-Blake, Detroit Mayor Dave Bing, Living Cities CEO Ben Hecht, Minneapolis Mayor R.T. Rybak, St. Paul Mayor Christopher Coleman and Newark Mayor Cory Booker.