Community Foundation for Greater Buffalo

"Heron Foundation & Other Investors Enthusiastic About Buffalo"

Jun 16, 2014 | Posted in News

WBFO-FM - June 16, 2014:

The Community Foundation for Greater Buffalo hosted the F.B. Heron Foundation late last week. The Heron Foundation, a major investor to the Buffalo Niagara Medical Campus, is now exploring other possible investments opportunities in our region. WBFO's Eileen Buckley talked with Heron Foundation president Clara Miller about their strong interest in Buffalo.

"We are very enthusiastic about the city and about many aspects of it and think there's a tremendous amount of potential,' said Clara Miller, president of the Heron Foundation.

Miller noted Heron is unlike other foundation it doesn't invest its endowment in the traditional Portfolio market, instead it invests in enterprises that fulfill its mission.

"We're looking for opportunities and we will underwrite every single one of those from an investors point of view on a case by case deal as the deals come up. For example if there is a bond issue that looks highly promising, then we make a decision based on that opportunity and underwrite it in real time and those deals can take any where from six weeks to six years depending on whether the stars align and everyone gets the paperwork," noted Miller.

Heron has already commitment over a million and a half dollars in philanthropic equity in the Medical Campus. And with all the rapid growth in and around the campus and medical corridor, the Community Foundation is serving as a facilitator with Heron to connect the foundation to local economic development leaders. Heron focuses on Mission-Related Investing or MRI.

"We're looking to help connect the various areas of opportunity, one of them being the Medical Campus, another potentially being waterfront development," "Basically development that includes a lot of employment for people we care about," said Miller

And with these two foundations working together on this process other local community members could be selected to make a pitch later this summer or fall about their economic development endeavors to the Heron Foundation.

Miller tells WBFO News she is eager to learn what else Buffalo can offer.

To listen to the interview, click here

content management, website design, e-commerce and web development services in Erie, Pennsylvania