Categories: Network Events
The workshop focused on would-be developers working through a mock negotiation in small groups to create a joint venture (JV) agreement.
Building on years of joint venture research and events, the Network hosted its first ever hands-on workshop on negotiating joint venture partnerships in supportive housing development. The event was hosted by Capitol One and facilitated by Network and Enterprise Community Partners staff members. CEOs and development professionals from 18 nonprofit organizations in New York City, as well as development partners from Bronx Pro and CSD Housing attended the morning workshop.
The workshop focused on would-be developers working through a mock negotiation in small groups to create a joint venture (JV) agreement. Each group was given a case study detailing a hypothetical supportive housing development project of a nonprofit and for-profit developer and was asked to create a term sheet for the deal that leveraged the strength of both the nonprofit and for-profit developers.
“For me this was JV 101 and therefore very useful in helping me understand basic concepts and roles,” said one of the nonprofit participants.
Another attendee said, “This helped me get a better understanding of Joint Ventures from all points of view- corporate and nonprofit.”
Joint ventures are becoming an increasingly common strategy to leverage the strengths of nonprofit and for-profit partners for supportive housing development. These partnerships can be extremely beneficial for all involved, but also can be intimidating and difficult to navigate for nonprofits with all levels of JV experience. To equip our members with the right tools and knowledge, the Network developed a Joint Venture Guidebook in partnership with Enterprise Community Partners that includes case studies and analysis of JV deals that have been negotiated in the past.
Are you interested in joint ventures? Check out our guidebook and contact Rebecca Sauer, Director of Policy and Planning for questions and more information.