From Orlando Sentinel:
Orlando Mayor Buddy Dyer announced today that a urban equity fund established by Magic Johnson will invest $70 million in the city’s beleaguered Parramore community.
Dyer announced the initiative by the Canyon-Johnson Urban Fund during his annual State of the City address, which he uses to lay out accomplishments of the previous year and lay out priorities for the next.
The Canyon-Johnson Urban fund is the nation’s largest private equity fund “focused solely on the revitalization of America’s densely populated, ethnically diverse communities,” according to city officials. The money invested here will provide affordable housing, jobs and retail development, Dyer said.
With crime continuing to plague the community, Dyer also focused on public safety. He announced the formation of a fourth patrol division within the police department, one that will focus on the downtown and high-crime neighborhoods to the west.