The pilot Community Investment Trust project launched in 2017 as the East Portland CIT (EP CIT). The property Plaza 122, which is owned by the EP CIT, is a 29,000-square-foot mid-century commercial retail mall in outer Southeast Portland with about 30 businesses and nonprofit tenants. Originally purchased for $1.2 million in 2014, after stabilization and lease-up, Plaza 122 is now worth $2.15M.
A CIT investment offering is an agreement that allows private individuals (community investors) the opportunity to purchase shares in a corporation.
Each share represents a piece of equity ownership in the corporation, providing the community investor with financial returns and a voice in important decisions for the corporation.
When the EP CIT was launched, 40,000 shares were authorized at a price of $10 per share to be purchased over time by community members. The current share price of the pilot CIT in Portland, OR is $19.65, meaning that shares purchased at $10 in 2017 at the initial offering have nearly doubled in value.
Each share holder is entitled to an annual dividend from the corporation’s profit, which has averaged $0.99 per share over the past 7 years for the East Portland CIT.
To invest in the East Portland CIT Corporation (EP CIT), you must:
*You can either keep your investment in the CIT and continue to experience share price and dividend returns, or you can cash out the full value of your shares. When you meet the eligibility requirements again, by moving back to an eligible zip code or by cashing out your shares, you can restart your investment.
If you are eligible to become a community investor in the EP CIT, your next step is to complete our free,
6-hour “Moving from Owing to Owning” (O2O) financial action course.
