When we launch Nico Echo Park early next year, it will be among the first real estate investment trusts to organize as a public benefit corporation, which means that we’re legally committed to balancing financial returns with the social and environmental impact of our activities on a broad group of stakeholders.
Defining the success of our business to include our non-financial impact on the people in communities where we operate is core to our model at Nico. We believe that inclusive and stable neighborhoods are cornerstones of a healthy society and that the conventional model for measuring investment results (i.e. success = profit maximization) fails to give due weight to the inherently social nature of neighborhoods, communities, and housing.
Today we are sharing Nico’s Impact Assessment Framework, a document that outlines:
1. the initial non-financial objectives of Nico Echo Park;
2. how we plan to gather and incorporate stakeholder input on an on-going basis;
3. our methods for measuring and reporting on the non-financial results of our operations.
These initial priorities were developed with input from stakeholders in Echo Park and other communities that experience similar dynamics around housing, financial exclusion, and community stability.
We will continue to work with local stakeholders on how these social and environmental priorities evolve. Together we aim to create a new understanding of how local ownership can contribute to positive financial, social, and environmental outcomes for neighborhoods over time.
You can read Nico’s Impact Assessment Framework here.
Nico Echo Park may undertake a public offering, pursuant to Regulation A under the Securities Act of 1933, as amended.
(1) no money or other consideration is being solicited, and if sent in response, will not be accepted;
(2) no offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is qualified, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date;
(3) a person’s indication of interest involves no obligation or commitment of any kind;
(4) once the Preliminary Offering Circular is publicly filed with the Securities and Exchange Commission, you may obtain a copy of the most recent version of the Preliminary Offering Circular by contacting firstname.lastname@example.org, calling (855) 300–6426, or visiting www.mynico.com/offering
Indications of interest. Any written communication as per above may include a means by which a person may indicate to the issuer that such person is interested in a potential offering. The issuer may require the name, address, telephone number, and/or e-mail address in any response form.