a) Who created the RITE Plan Financing Structure?

i. The RITE Plan Financing Structure was created by Jeremy Taylor for use by New Way Developments, a for-profit Qualified Active Low-Income Community Business (QALICB). Upon leaving his position with New Way Developments and having retained intellectual property rights for the structure, Mr. Taylor then converted the structure into legislation for use not only by New Way Developments, but the general public as well. The RITE Plan Financing Structure was passed into law in East St. Louis, IL on May 11, 2018 under City Resolution 18-20025. Shortly thereafter Jeremy Taylor, Zoelle Zero, Robert Robson, Bryant Arango, Aaron Matthews, Gregory McLendon, and Jonathan Fox formed The RITE Plan Initiative 501(c)3 and TRPI’s first board was voted in.

ii. In legislation form it is known as “The RITE Plan Legislation” and was created to provide municipalities and QALICBs who are New Market Tax Credit Census Tracts with alternative financing structures to achieve their respective goals for economic development.

b) Where can I read the full The RITE Plan Legislation?

i. https://www.dropbox.com/s/01vnxdc3auqv3xo/00.1%20Amended%20City%20of%20ESL%20%2424B%20Resolution%20051018.pdf?dl=0

c) Can a municipality make changes to The RITE Plan Legislation or use only parts of The RITE Plan Structure?

i. The RITE Plan Financing is considered public record and open source by both TRPI and its creator Jeremy Taylor. While a municipality may pass some version of it into Law private corporations, especially QALICBs, are allowed to use the structure in whole or in part.

d) What is the general purpose of The RITE Plan Legislation/Financing Structure?

i. The RITE Plan Legislation and Financing Structure intends to raise a large enough amount of capital to take care of the City’s immediate problems such as the bailout, sewer system repair, much needed road construction; all on a massive level.

ii. The RITE Plan Financing Legislation/Financing Structure can be considered a type of Urban Renewal Law which focuses heavily on the revitalization of a state or municipality’s impoverished communities. It sets a forward-thinking comprehensive path to the full redevelopment of blighted areas which qualify for/as Opportunity Zones, Federal New Markets Tax Credit Census Tracts, CDFI Fund Bond Guarantee, and other government programs.

e) How does The RITE Plan Base Deal Financing Structure operate?

i. The structure may utilize safer investments such as insured/guaranteed municipal/corporate bonds. The proceeds from those transactions would then be issued in a NMTC Leveraged Lender scenario as a loan. Those funds would then be combined with various qualifying incentive programs and tax credits proceeds to provide 100% financing with the potential for operational funds.

ii. This structure creates a strong Public Private Partnership that reinforces a Federal NMTC/ITC Transaction. In doing so, it establishes a self-sustaining economic system for the City as these programs were meant to be.

iii. Specifics on the processes involved in the base deal structure can be found in this document here: https://www.dropbox.com/s/deh539023m1wmhs/00%20RITE%20Plan%20Annual%20Base%20Deal%20Structure.pdf?dl=0

f) How does this financing structure differ from other proposed financing structures for redeveloping impoverished areas?

i. When done through TRPI, The RITE Plan Financing Structure establishes an oversight Committee in the City’s Control to monitor their due diligence process.

ii. All master development plans produced by TRPI for a governing body are available for public use.

iii. TRPI uses its projects themselves and its equity as collateral for City Bailout if needed.

iv. TRPI developed projects and their resulting revenues are used as collateral for city infrastructure and operations capital.

v. The City is given equity either directly or indirectly in projects as a source of revenue outside of taxes.

vi. When developed directly through TRPI controlling interests in projects are held by members of community in some form.

vii. TRPI’s standard practice is to partner with local contractors and community-based businesses.

a) What does Open Source mean?

i. Open source is defined as intellectual property that is made freely available to the general public by its creators. In terms of Legislation, this means it is democratically opened to the general citizenry, employing their collective wisdom to benefit the decision-making process and improve democracy.

ii. It is our policy that TRPI will not work with a municipality that passes a version of The RITE Plan Legislation that is not open for use by the general public.

a) How can citizens have ownership in projects?

i. Typically citizen can have ownership in projects through one of two ways. The first is a citizen founding a Qualified Active Low Income Community Business, or QALICB. The second is through TRPI partnering with a group of citizens utilizing a true Urban Renewal Law similar to the Neighborhood Redevelopment Corporation Law in Illinois, or the NRC Law. https://ilga.gov/legislation/ilcs/ilcs3.asp?ActID=1446&ChapterID=30

b) How can I become involved?

i. Head over to our TAKE ACTION page on this site to learn more.

a) What potential risks may governmental organizations experience through participating in The RITE Plan Initiative Legislation/Financial structure?

i. A municipality can determine the level of risks they are willing to participate in through their own custom version of The RITE Plan Legislation. Typically, versions of the financial structure that put a municipality in a third or fourth risk position are favored.

a) What criteria is TRPI seeking in their partners?

i. TRPI partners with large and small businesses to fulfill its mission. Its main focus is Startup Qualified Active Low-Income Community Businesses, or QALICBs.

b) What future partners are being considered?

i. The door is open to all who share our goals to revitalize America’s impoverished rural and urban communities. Our hopes are that major sponsors like Amazon, Google, Tesla, Pepsi, Ameren UE, and Apple help to make that dream a reality for all Americans. Major real estate developers like Clayco, H.J. Russell, and others are hopefuls as well.

a) What current projects is the RITE Plan Initiative developing?

i. The RITE Plan Grid (RPG) - a renewable energy grid infrastructure that will enable a closed loop economy between businesses producing the necessary infrastructure, equipment, as well as generating the renewable energy. It is a phased project with three different aspects that include Waste to Energy Collection, Energy Harvester Manufacturing, and Renewable Energy Production.

ii. The SIKI Lodge & Resort - A state of the art hotel and entertainment complex designed to bring in top entertainers and influencers to the East St. Louis’ planned Riverfront District for content production.

iii. We will create comprehensive plans for each of the 200 cities that The RITE Plan aims to partner with. Please visit the link below for a high level of what we are currently doing for our first city, East St. Louis. https://www.theriteplaninitiative.org/city-of-esl-full-rite-plan