i-Pool
The i-Pool is about unifying a population segment economically and socially within its body politic so that it can operate as One.
Opportunity and Destiny
The City of Detroit received $826.7 million from the US Treasury in ARPA funds to rebuild its economy due to the Covid Pandemic.
- We can use that money to create a $500 million, investment pool (i-Pool) 100% owned and operated by Detroiters.
- You and every Detroiter will receive $1,000 not to spend but to own a share in a half-billion-dollar investment pool.
- You will also own a share of its multi-million dollar long-term investments in banking, real estate, construction, retail, and more.
- You will not receive any money, only $500 million in goverment programs.
Opportunity and Destiny
- The City of Detroit received $826.7 million from the US Treasury in ARPA funds to rebuild its economy due to the Covid Pandemic.
- We can use that money to create a $500 million, investment pool (i-Pool) 100% owned and operated by Detroiters.
- You and every Detroiter will receive $1,000 not to spend but to own a share in a half-billion-dollar investment pool and its multi-million dollar long-term investments in banking, real estate, construction, retail, and more.
- You will not receive any money, only $500 million in City of Detroit programs.
You Decide, Detroit
- Do you want a $1,000 share in a half-billion-dollar investment pool and its multi-million dollar long-term investments opportunities although you can’t spend it right away, or
- Do you want to receive no money but $500 million worth of City of Detroit programs?
We Have a Dream
Individually, we are poor … collectively we are richer than all the nations in the world, with the exception of nine … We have an annual income of more than thirty billion dollars a year, which is more than all of the exports of the United States, and more than the national budget of Canada. That’s power right there if we know how to pool it.
– MLK Mountaintop Speech April 3, 1968
We Have a Dream & Detroit has an Opportunity
- Rev. King spoke of the power of collective capitalism, the economic potential of pooling financial resources.
- Today, Detroiters have the Opportunity to make King’s Vision a reality.
- The i-Pool (investment Pool) is a half-billion-dollar investment pool designed for Detroit Residents to own their economy.
- They will own their own banks and financial institutions, businesses, and technology, allowing Detroiters to multiply their economic power and influence and to take command of their Destiny.
What is the i-Pool (investment Pool)?
- i-Pool stands for “investment” Pool. In the same way that people pool their money together to buy something that no one person can afford by him/herself (like a timeshare property).
- The i-Pool (investment Pool) allows Detroiters to pool their money together to invest in half a billion-dollar worth of multi-million dollar businesses, making each person a part owner in each of those businesses, receiving a part of the profit and control of those businesses.
- Today, across the globe thousands are pooling their resources online to purchase NBA teams, expensive pieces of art, and even an original copy of the US Constitution. It is time for Detroit to get into the game.
A drop of water alone is insignificant, but billions of drops together form an ocean.
How Does The i-Pool Work?
Each resident of Detroit receives a $1,000 share in the i-Pool and its profits.
As a shareholder, each resident receives a vote in determining which investment opportunities the i-Pool will finance.
Residents actively research investment opportunities and proposals and select which projects receive funding (crowdfunding format).
Each resident receives a share of the profits from all investments, providing her a steady stream of income -- i.e. sustainable equity.
i-Pool
What if Economically, Historically, and Otherwise Disenfranchised Population Segments Pooled their Resources to Function as One, Owning their Own Economy; their Own Banks and Financial Institutions, their Own Businesses?
They Could Uplift Each Individual Financially, and there would be No Limit to Their Economic Power.
Why Banking is the Key
We’ve got to strengthen black institutions. I call upon you to take your money out of the banks downtown and deposit your money in Tri-State Bank. We want a “bank-in” movement in Memphis.
– MLK Mountaintop Speech April 3, 1968
The Investment Multiplier:
Creating Credit
- When a bank gives a loan to a business, that money is not spent. The business deposits their loan money right back into the bank, so the bank can loan it again.
- When a business pays employees for labor and suppliers for products, the employees and suppliers deposit their payments back into the bank, which can again be loaned.
- When businesses make a profit, they deposit their profits into the bank, again generating more loans.
- A single loan will multiply exponentially, creating an investment multiplier or credit creation.
Leveraging Billion-Dollar Opportunities with Biden-Harris
to Close the Wealth Gap
- The Biden-Harris Administration has pledged billions to build black wealth and narrow the racial wealth gap, focusing on two key wealth-creators – homeownership and small business ownership.
- The i-Pool can leverage its investments as collateral to secure hundreds of millions in HUD grants for new homeowners and SBA loans for business startups and business expansion in Detroit.
- The consortium of i-Pool businesses will have a competitive advantage with its strong network. Its administration will not only identify loans and grants but also furnish debt counseling to place applicants on the path to creditworthiness in addition to providing management consulting, accounting, advertising, social media, etc services to all i-Pool businesses.
- The i-Pool can leverage investments as collateral to finance SBA loans for business startups in Detroit and for the expansion of small businesses into larger corporations.
Why Should the i-Pool take Priority over the Existing Plan for ARPA Funds?
What Projects can the i-Pool Finance?
- Anything less than $500 million.
- Half a billion is enough to own a 50% share of the Renaissance Center, 25% of the new GM electric vehicle plants, or 35% of the Pistons franchise.
- For example, Gucci has announced the opening of a store in Downtown Detroit. Detroiters can be the owners of the store, not just customers.
- By owning banks, financial institutions, technology, and businesses, Detroiters can multiply their investment portfolio while reinvesting profits from their business to further expand investment opportunities and economic power.
- Additionally, when Residents shop at i-Pool owned businesses, repay loans from i-Pool banks, and pay rent on i-Pool properties, Residents are paying themselves.
Potential Investment Opportunities
Business Startups
- i-Pool will provide venture capital for high-tech startups in social media and other apps, software, IoT, and other emerging technology in markets with high growth potential.
- The i-Pool will finance local business startups including efforts to revitalize or establish business districts in neighborhoods like Conant Gardens.
- Investing venture capital in Detroit-based startups would help diversify the industrial base of the Detroit economy rather than relying on a few industries.
Banks and Financial Institutions
- By owning banks and financial institutions with the businesses, Detroiters can multiply their investment portfolio while reinvesting profits from their business to further expand investment opportunities and economic power.
- The i-Pool will establish large-scale investment banks to fund large-scale infrastructure projects such as telecommunication, construction, etc.
- It will also establish small-scale banks providing favorable rates for Residents that encourage savings and support borrowing.
Real Estate Development
- Large scale real estate firms that would purchase, renovate and lease office buildings Downtown like the Penobscot Building and, in addition, to shopping malls, hotels, resorts, etc.
- Medium-scale real estate development firms that develop upscale high- and mixed-income residential units intermingled with innovative office solutions.
Construction Firms
- Construction firms that will bid for local, state, and federal contracts in addition to demolishing and renovating large-scale office spaces Downtown all providing jobs for Residents
- Several small-scale construction firms that demolish dilapidated residential units and construct upscale housing and office space solutions for neighborhood business districts.
Rebuilding the Black Wall St
[The Black Wall St – Tulsa’s Greenwood District’s] local economy had such good financial circulation that the average dollar would stay within the community’s network of households and firms for approximately 19 months before being spent elsewhere.
The i-Pool will be building a network of Finance, Insurance, and Real Estate (FIRE) industries, establishing a thriving economy, recycling Detroit dollars.
What Happens if the Proposal is Approved?
[The Black Wall St – Tulsa’s Greenwood District’s] local economy had such good financial circulation that the average dollar would stay within the community’s network of households and firms for approximately 19 months before being spent elsewhere.
Hence, no cancellation of any project is required to financethe i-Pool.
Leveraging Billion-Dollar Opportunities with Biden-Harris
to Close Wealth Gap
The current plan is a plan for spending ARPA funds.
We believe the City would benefit immensely from a plan to invest and multiply the ARPA funds.
A $500 M investment with a return of 10 percent would have doubled in roughly 6.5 years (doesn't sound right).
That means if we just put $500 M in an IRA, we would receive $50M every year and ould finance twice as many projects over 7 years.
The Biden-Harris Administration has pledged billions to build black wealth and narrow the racial wealth gap.
Their focus is on two key wealth-creators – homeownership and small business ownership
The i-Pool can leverage its investments as collateral to finance hundreds of millions in HUD for new homeowners and for revitalizing dilapidated housing
The i-Pool can leverage investments as collateral to finance SBA loans for business startups in Detroit and for the expansion of small businesses into larger corporations.
The consortium of i-Pool businesses can leverage the Biden-Harris commitment to increase federal contracts to businesses owned by disadvantaged population segment
The consortium of i-Pool businesses will have a competitive advantage with its strong network and economies of scale. A single administration will streamline the application process, financing, insurance, management consulting and accounting services, advertising and social media services, etc provided to all i-Pool businesses at a reduced cost.
The i-Pool business administration will provide all the services needed for not only identifying loans and grants but also for placing applicants on the path to creditworthiness.
Leveraging Billion-Dollar Opportunities with Biden-Harris
to Close Wealth Gap
- The consortium of i-Pool businesses can leverage the Biden-Harris commitment to increase federal contracts to businesses owned by disadvantaged population segment.
- The consortium of i-Pool businesses will have a competitive advantage with its strong network and economies of scale. A single administration will streamline the application process, financing, insurance, management consulting and accounting services, advertising and social media services, etc provided to all i-Pool businesses at a reduced cost.
- The i-Pool business administration will provide all the services needed for not only identifying loans and grants but also for placing applicants on the path to creditworthiness.
Lighting FIRE in Detroit Neighborhoods
- It is beautiful to see Downtown Detroit rise from the ashes, but our neighborhoods should not be left out.
- Like the Black Wall Streets of the past, the i-Pool funds Finance, Insurance, and Real Estate (FIRE) industries central to directing capital flows and pivotal to establishing a thriving local economy.
- Community projects like Conant Rising envision multicultural residential neighborhoods in which Detroiters own homes and lofts or co-own their apartment complexes intermingled with thriving central business districts, not strip malls, that re-circulate Detroit dollars.
What are ARPA and SLFRF?
- The American Rescue Plan Act (ARPA) provides $1.9 trillion to help in recovery from the economic and health effects of the Covid Pandemic.
- The State and Local Fiscal Recovery Funds (SLFRF), part of ARPA, gives $350 billion to state and local governments to help them rebuild their economies.
- Detroit received $826.7 million (more than 38% of its budget), more than any other city.
- The US Treasury has specified how the funds can and cannot be spent, but gives a lot of freedom to governments. Any money not used within four years must be returned to the US Treasury.
Will Existing ARPA Programs be Canceled?
- No cancellation of any project is required to finance the i-Pool.
- The current plan is a plan for spending ARPA funds.
- The i-Pool is a plan to invest and multiply ARPA funds.
- A $500M investment with a return of 10% would have doubled in roughly 6.5 years.
- If we just put $500M in an IRA, we would receive $50M every year and could finance twice as many projects over 7 years.
Banks and Financial Institutions
- By owning banks and financial institutions and businesses, Detroiters can multiply their investment portfolio while reinvesting profits from their business to further expand investment opportunities and economic power.
- The i-Pool will establish large-scale investment banks to fund large-scale infrastructure projects such as telecommunication, construction, etc.
- It will also establish small-scale banks providing favorable rates for Residents that encourage savings and support borrowing.
Real Estate Development
- Large scale real estate firms that would purchase, renovate and lease office buildings Downtown like the Penobscot Building and, in addition, to shopping malls, hotels, resorts, etc.
- Medium-scale real estate development firms that develop upscale high- and mixed-income residential units intermingled with innovative office solutions.
Construction Firms
- Construction firms that will bid for local, state, and federal contracts in addition to demolishing and renovating large-scale office spaces Downtown all providing jobs for Residents
- Several small-scale construction firms that demolish dilapidated residential units and construct upscale housing and office space solutions for neighborhood business districts
What Projects can the i-Pool Finance?
Anything less than $600 million. There is no limit to the possibilities of investment opportunities for Detroiters. Gucci, for example, has announced it is opening a store in Downtown Detroit. Detroiters can buy the whole Gucci store, not just the clothes. Detroiters could purchase and renovate the Penobscot building and several other office buildings downtown. Half a billion is enough to own a 50% share of the Renaissance Center or 25% of the plants GM plans to renovate for electric vehicle production. The estimated value of the Pistons is $1.45 billion, which means Detroiters could own 35% of the Pistons organization, not just tickets. Detroiters can own construction companies that can bid for Detroit, state, and federal construction contracts for highways, office buildings, etc.
i-Pool
In addition to generating sustainable equity and intergenerational wealth for Residents, we hope the i-Pool will offer a level of economic empowerment that Detroiters have never experienced enabling them to shape their Destiny with the Dignity that comes with Economic Self-Sufficiency.
Take Control of Your Destiny, Detroit
- Vote for You
Sign the petition.
Vote on August 2 for the Proposal and receive the first $500 share.
Vote in November and receive the second $500 share.
If you want to go fast, you must walk alone, but if you want to go far, you must walk together.
– African Proverb
If you want to go far and fast, you must walk together, but you must walk as One.
– Indian Master
The i-Pool is about unifying a population segment economically and socially within its body politic so that it can operate as One.
Join the i-Pool Conversation
NEXT STEP: Make it Happen - Vote for Yourself, Detroit!
Sign the petition.
Vote in the August Primary for the Proposal and receive the first $500 share.
Vote in November for the second $500 share.
Questions & Answers
Is the i-Pool Only about making Profit?
- The i-Pool is about investing in Detroiters and their future. Investing in multi-million dollar business opportunities is just a means to that end by creating sustainable equity and intergenerational wealth empowering Detroiters to command their Destiny.
- The i-Pool is about establishing for Detroiters the dignity that comes with economic self-sufficiency. It is about Detroiters taking their Destiny into their hands and shaping their socio-economic future.
How Does the i-Pool Empower Detroit?
- The i-Pool (investment pool) is designed for Detroit Residents to own their economy; their banks and financial institutions, their businesses, and their technology allowing Detroiters to multiply their economic power and influence and to shape their Destiny with the Dignity that comes with economic self-sufficiency.
- By owning the banks and financial institutions, investments can be multiplied, expanding investment opportunities.
- Profits from those investments can be reinvested further expanding investment opportunities.
- With a larger financial base, Detroiters can invest in a larger number of social programs without having to depend on the compassion of others for grants, financial support, or government assistance.
How Does the i-Pool Help Each Resident?
- Each Resident will become a shareholder and part-owner of a half-billion-dollar investment bank, an investment that will pay her money every year of her life.
- This creates sustainable equity, intergenerational wealth, and places her securely on the path to economic empowerment and financial self-sufficiency.
Is the i-Pool Only about making Profit?
- The i-Pool is about investing in Detroiters and their future. Investing in multi-million dollar business opportunities is just a means to that end by creating sustainable equity and intergenerational wealth empowering Detroiters to command their Destiny.
- The i-Pool is about establishing for Detroiters the dignity that comes with economic self-sufficiency. It is about Detroiters taking their Destiny into their hands and shaping their socio-economic future.
How Does the i-Pool Empower Detroit?
- The i-Pool (investment pool) is designed for Detroit Residents to own their economy; their banks and financial institutions, their businesses, and their technology allowing Detroiters to multiply their economic power and influence and to shape their Destiny with the Dignity that comes with economic self-sufficiency.
- By owning the banks and financial institutions, investments can be multiplied, expanding investment opportunities.
- Profits from those investments can be reinvested further expanding investment opportunities.
- With a larger financial base, Detroiters can invest in a larger number of social programs without having to depend on the compassion of others for grants, financial support, or government assistance.
How Does the i-Pool Help Each Resident?
- Each Resident will become a shareholder and part-owner of a half-billion-dollar investment bank, an investment that will pay her money every year of her life.
- This creates sustainable equity, intergenerational wealth, and places her securely on the path to economic empowerment and financial self-sufficiency.
How Does the i-Pool Empower Detroit?
- The i-Pool (investment pool) is designed for Detroit Residents to own their economy; their banks and financial institutions, their businesses, and their technology allowing Detroiters to multiply their economic power and influence and to shape their Destiny with the Dignity that comes with economic self-sufficiency.
- By owning the banks and financial institutions, investments can be multiplied, expanding investment opportunities.
- Profits from those investments can be reinvested further expanding investment opportunities.
- With a larger financial base, Detroiters can invest in a larger number of social programs without having to depend on the compassion of others for grants, financial support, or government assistance.
How Does the i-Pool Help Each Resident?
- Each Resident will become a shareholder and part-owner of a half-billion-dollar investment bank, an investment that will pay her money every year of her life.
- This creates sustainable equity, intergenerational wealth, and places her securely on the path to economic empowerment and financial self-sufficiency.
Why should the i-Pool be Prioritized over other Projects?
- If we fund the i-Pool first, we have the potential to finance not only the existing programs but far more.
- For example, if we invest $1 million in a recreation center, we will not be able to invest those funds elsewhere.
If we use the same $1 million to finance an investment opportunity that generates $5 million, however, then we can finance 5 recreation centers instead of one, which is quite obviously better than one. - Moreover, for any developing economy, among the highest priorities is to establish robust banking and financial markets with the sustainable equity of its citizenry as a cornerstone.
- The purpose of the i-Pool is to establish the groundwork for a robust financial and banking sector for the Detroit economy owned and operated by Detroiters, powered by their sustainable equity.
Frequently Asked Questions
How Much Money will Each Resident Make?
- That depends entirely on how hard we work. There are no guarantees.
- Even with half a billion, the next half billion is not guaranteed.
- Like every Great Achievement, we have to roll up our sleeves and work intensely, resolutely, and tirelessly to make it a Reality.
- At the same time, if we never Endeavor, if we never set Great Expectations for ourselves, that is a certain way to ensure that we never achieve Great things.
What is the Advisory Panel and who will be on the Panel?
- The Advisory Panel is the interim body that the City Council will organize to establish the i-Pool.
- The Panel will consist of
- Professionals with technical expertise that will include but are not restricted to economics; banking and financial services; business administration and management; legal services; social and political science; computer science specifically but not restricted to social media, internet of things, hardware, architecture, development, operations, blockchain and distributed ledger, cryptocurrency, decentralized autonomous organizations, limited liability autonomous organizations, smart contracts
- Community Stakeholders – Residents, Detroit-based NGOs and Nonprofits, faith-based organizations, and community leaders.
- Trustees of the i-Pool – the board of directors of Socivisus.
How Much Money will Each Resident Make?
- That depends entirely on how hard we work. There are no guarantees.
- Even with half a billion, the next half billion is not guaranteed.
- Like every Great Achievement, we have to roll up our sleeves and work intensely, resolutely, and tirelessly to make it a Reality.
- At the same time, if we never Endeavor, if we never set Great Expectations for ourselves, that is a certain way to ensure that we never achieve Great things.
What is the Advisory Panel and who will be on the Panel?
- The Advisory Panel is the interim body that the City Council will organize to establish the i-Pool.
- The Panel will consist of
- Professionals with technical expertise that will include but are not restricted to economics; banking and financial services; business administration and management; legal services; social and political science; computer science specifically but not restricted to social media, internet of things, hardware, architecture, development, operations, blockchain and distributed ledger, cryptocurrency, decentralized autonomous organizations, limited liability autonomous organizations, smart contracts
- Community Stakeholders – Residents, Detroit-based NGOs and Nonprofits, faith-based organizations, and community leaders.
- Trustees of the i-Pool – the board of directors of Socivisus.
Will Existing ARPA Programs be Canceled?
- The existing programs need not be canceled to establish the i-Pool, at most only postponed.
- The i-Pool is designed to multiply the existing funds and number of investment opportunities, which would provide more financial resources to finance the existing programs and several more.
How Much Money will Each Resident Make?
- That depends entirely on how hard we work. There are no guarantees.
- Even with half a billion, the next half billion is not guaranteed.
- Like every Great Achievement, we have to roll up our sleeves and work intensely, resolutely, and tirelessly to make it a Reality.
- At the same time, if we never Endeavor, if we never set Great Expectations for ourselves, that is a certain way to ensure that we never achieve Great things.
Does the i-Pool Need Government Approval to Receive ARPA Funding?
- The US Treasury has identified specific uses that automatically qualify for ARPA funds which include “financial services for the unbanked and underbanked and cash assistance.”
- The very purpose of the i-Pool is to provide financial services for Detroiter who are largely underbanked.
- Furthermore, the US Treasury specifies that communities with a median income below 300% of the The income limit for 300 percent of the Federal Poverty Guidelines for a household of three is $65,880 per year.3 $65,880 are automatically eligible for ARPA funds.
- Hence, Detroit, as a community, qualifies with a median income of $30,894 according to the US Census.
What is the Advisory Panel and who will be on the Panel?
- The Advisory Panel is the interim body that the City Council will organize to establish the i-Pool.
- The Panel will consist of
- Professionals with technical expertise that will include but are not restricted to economics; banking and financial services; business administration and management; legal services; social and political science; computer science specifically but not restricted to social media, internet of things, hardware, architecture, development, operations, blockchain and distributed ledger, cryptocurrency, decentralized autonomous organizations, limited liability autonomous organizations, smart contracts
- Community Stakeholders – Residents, Detroit-based NGOs and Nonprofits, faith-based organizations, and community leaders.
- Trustees of the i-Pool – the board of directors of Socivisus.
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