St. Joseph County Child Care Symposium Financing Initiative. In St. Joseph County, Indiana, a public-private partnership was created to address local child care problems as part of the statewide Child Care Symposium Financing Initiative. A fiscal intermediary is usually selected because it has the credibility, resources, and know-how to manage and track funds. It also is less vulnerable to changes in the partnership or political leadership. Allowing a third-party intermediary to manage the loan funds can build confidence in the fund's administration.
Banks can play a key role.
Child care lending is one of the allowable activities stated in the Act. Some banks, such as Providian Financial, have funded child care initiatives as part of their CRA economic development requirements. Remember that money is not the only or most important factor in engaging business partners . Business can provide a variety of resources to partnerships, including leadership, expertise, and access to other business partners and policymakers. Although funding is important, it may be better to establish the goals of the partnership before focusing on raising the funds.