At Genesis LA, our investment method is informed by over 25 years of work in our communities. We center 3 principles in our Strategy and implement them through 5 Activities:
We offer flexible and customized loan products to finance borrowers and projects in communities that have historically been cut off from financial resources.
We work hands-on to build the capacity of community organizations, nonprofits, and local developers who have innovative projects and strategies but need support to find a viable path forward.
By delivering capital and building capacity, we bring about positive change by delivering goods, services, jobs, and housing to residents of low-income communities, benefitting the Los Angeles region at large.
We make direct CDFI loans to nonprofits, small businesses, and emerging enterprises. Our provision of flexible capital funds various real estate development phases. Each project we invest in must be economically viable and yield tangible benefits to underserved communities & individuals.
We receive New Mart Tax Credit (NMTC) allocation from the U.S. Treasury’s Department CDFI Fund. NMTC’s leveraged finance structure generates tax credits that subsidize approximately 20% of the capital needed to make financing viable for community and economic developmental projects.
Genesis LA initiates or co-creates programs with a variety of partners to address specific community needs. These programs often involve intensive capacity building, cross-sector collaboration, and the implementation of pilot projects.
The Block x Block Project (BxB) launched at the start of 2023 and is a 10-year community development initiative focused on revitalizing urban neighborhoods: one in South Los Angeles and another in Pacoima.
BxB partners established community organizations in each neighborhood – Pacoima Beautiful (PB) and Community Coalition (CoCo) – with experienced developers, including Primestor, Holos Communities (Holos), Little Tokyo Service Center (LTSC), and Coalition for Responsible Community Development (CRCD).
In May 2021, Genesis LA and Community Vision (CV) co-launched the California Community Owned Real Estate (Cal CORE) program a 6-year, state-wide capacity-building initiative for Community Development Corporations (CDCs), Community Land Trusts (CLTs), and other local nonprofit real estate efforts.
CV implements Cal CORE trainings in Northern California while Genesis LA implements our Cal CORE program in LA County.
Launched in 2021, the Connecting Capital and Community (3C) program is facilitated by the Center for Community Investment (CCI), utilizing their capital absorption framework to address racial inequities within the housing ecosystem. Funded by JPMorgan Chase, this nationwide program takes place across 6 cities.
Genesis LA is the convening organization for 3C in Los Angeles, focused on increasing homeownership for Black and Latinx families in South LA, in pursuit of building wealth and stable communities. We are collaborating with Little Tokyo Service Center (LTSC), Coalition for Responsible Community Development (CRCD), Community Coalition (CoCo), and Offtop Design.
Genesis LA provides intermediary services upon request by third parties, where we provide community finance services for public and/or private partners. This work involved deploying subgrants, administering programs, and underwriting loans/PRIs.
In 2024, Genesis LA served as a local intermediary on behalf of LA County to deploy forgivable loans to nonprofits to finance the acquisition of vacant commercial properties. Recipients of LACAF funds are revitalizing the properties for use by small business tenants in support of local economic development.
In 2021, Genesis LA partnered with the Low-Income Investment Fund to function as a fiscal sponsor for SPARCC, a recoverable grant program financing due diligence costs for community land trust projects.
Genesis LA provides development assistance services, which can consist of training and 1-on-1 peer support to potential borrowers. This assistance prepares our borrowers to access our financing resources, setting them up for long-term success.
Jessica Waybright joined Genesis LA in 2008 and serves as General Counsel. She reviews loan due diligence, assists with loan structuring, and both drafts and reviews loan documents. She also oversees program compliance with government and private institutions.
Prior to joining Genesis LA, Ms. Waybright worked as a Real Estate and Transactional Attorney for Spierer, Woodward, Cobalis & Goldberg, where she drafted and negotiated terms of both real estate and business transactions.
Ms. Waybright earned a Bachelor of Arts in International Relations and Economics from the University of California, Davis and earned her Juris Doctor from the University of California, Hastings College of Law. She is admitted to the California Bar.