Financial Capital- Westport, CT

Within my hometown of Westport, Connecticut, there are various apparent community development funds that are sponsored by high power local businesses like the toy company Melissa & Doug. While CBOs’ and financial capital primarily use their funds to assist low and moderate-income people, women and minorities in obtaining housing and jobs. However, it seems that these loans use their funds for promotional purposes and advertising by paying parts of individual’s mortgages or car payments’ in order to sponsor their product or service. Some companies are like that, but many company owners who reside from Westport, Connecticut themselves are more socially motivated to build community development available to all people.

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While some CBO’s tend to be like that, Melissa & Doug toy company are very socially motivated investors whose goal for the local community is to reinvest those funds into community facility like the new YMCA built in Westport. This YMCA would provide benefits on annually fees provided by the company itself, which strengthens the linking capital amongst members who use the facility.

 

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Melissa & Doug held pubic hearings for residents to voice their opinions on the infrastructure and built capital of the new YMCA. While it may not have been specifically for low-income individuals since I am fortunate to live in an affluent town, the YMCA is known for its work with low-income people and provides services to single family homes and children. Through the work of the YMCA, various lives and individuals living in Westport and the surrounding areas have an improved quality of life.