Rochester Community Investment Fund: Empowering Our City
- Marcus Williams
- Jun 17
- 2 min read
Introduction
The Rochester community investment fund puts power in your hands. Rochester’s future should belong to its people, not just outside investors. With a median income of $40,083 and 26.2% of residents in poverty, our city’s growth often benefits wealthy developers while locals struggle. As Marcus C. Williams, I’m running for City Council to launch a Rochester Sovereign Wealth Fund (RSWF), funded and owned by Rochesterians, to invest in our neighborhoods, businesses, and youth—tax-free. Unlike government-run systems that risk control, the RSWF empowers citizens to profit from Rochester’s success without relying on politicians. This plan ensures every resident shares in our city’s prosperity.
Top Issues
Unequal Wealth Gains: Local development profits favor wealthy outsiders, leaving Rochester’s 205,239 residents behind.
Poverty and Opportunity Gap: With 26.2% in poverty and 40% of children below the line, youth need resources for entrepreneurship or housing.
Government Overreach: Public systems risk financial control and debanking, eroding trust, as seen with private banks.
Limited Investment Access: Most Rochesterians can’t invest in local growth, missing community-driven returns.
Action Items
The RSWF offers three pots for voluntary contributions, all with non-taxable returns:
1. Investment Vehicles
Pot 1: Local Low-Interest Loans
Short-term (6–12 months) and long-term (up to 72 months) loans to Rochester residents for business startups or property development, with 3% interest.
Benefits local jobs and property values.
Partners with RochesterWorks and Genesee Co-op FCU, capped at 5% of RSWF ($500,000 if $10M) with collateral for loans over $50,000.
Pot 2: Capital Development Bonds
5-year, 10-year, and 30-year bonds for projects like rec center upgrades, yielding at least 1%. City charter caps debt at 9% (~$90M of $1B).
Boosts infrastructure and returns for citizens.
Issued via City of Rochester, starting with $5M, capped at 4.5% ($45M) with audits.
Pot 3: Municipal Baby Bonds (Trust)
Trust accounts for Rochester children, seeded with $500–$1,000 at birth. Citizens invest up to $1,200/year, with a $250 city match. Matures in 20 years with market-variable returns (4% minimum), targeting $25,000 for entrepreneurship or housing.
Closes the wealth gap for 40% of kids in poverty.
Managed by a private trust, starting with 1,000 accounts ($1.25M seed), scaling to 5,000, capped at $25,000 per account and 2% of RSWF.
2. Funding and Participation
Citizens contribute voluntarily ($50–$500) via payroll or the City Of Rochester, targeting 10% (20,524 residents) for $1M–$10M.
City seeds $1.25M from DRHS budget, repaid via bonds.
Additional $1.5M from CDBG and Rochester Area Community Foundation.
3. Governance and Protections
Independent 7-member board (e.g., business owner, parent) ensures transparency.
Private trust, audited annually, avoids government control.
Council approves 2026 ordinance, monitors bonds.
Limit RSWF to 1% of budget ($10M), with 5% loss tolerance ($500,000).
Expected Impact
$2M–$5M annual investment, 100–200 jobs.
5,000 baby bonds at $25,000 by 2045.
20,524 investors share 3–6% returns.
Fiscal safety with debt under 9% ($90M).
Conclusion
The Rochester Sovereign Wealth Fund empowers Rochesterians to invest in their city—tax-free—without government overreach. Together, we’ll build a prosperous Rochester!
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