Stone Enterprise is a Cleveland based economic and community development company that helps financial institutions, non-profits and other community based organizations with planning, strategies, and implementation of programs and funded projects.  With over 30 years experience in business banking, real estate development, program management and community engagement.  Stone Enterprise consultants are looking forward to helping you with your next project.

• Negotiated commercial leases generating $17 million in gross rent revenues within 16 years by establishing lease rates in compliance with underwriting financing requirements.
• $8 million project to construct a 57,000 square-foot office building completed on time and within budget by conducting a full needs analysis, defining the project scope, and managing contract negotiations.
• $5 million, 50-unit multiple site, low-income housing tax credit project funded by $3.4 million low-income housing tax credits, $1 million term loan from a senior lender, and $600,000 in subordinated loans from the city and state.

• Strategic Vision / Tactical Initiatives

  • $1.3 million government contract awarded due to working in collaboration with local contractors and the City of Cleveland to provide energy efficient services to low-income homeowners.
  • Founded a 2,000 square-foot micro enterprise center with programs and services to empower clients to start up businesses, obtain employment, and advance economic performance.
  • $1 million revenue realized from $50,000 per housing unit sales to 20 low-income families by organizing a team to orchestrate sales and financing as well as the required repairs for financing approval.
  • $100,000 two-year strategic partnership orchestrated with a community development corporation to benefit from the organization’s excess capacity to execute code enforcement services.

  Financial Analysis, Budget Planning, Cost Savings

  • $1 million annual operating budget effectively managed with expenses at or below a 10% variance through stringent forecasting and accounting for market differences.
  • $800,000 debt restructured by collaborating with underwriters to formulate mutually beneficial, creative solutions focused on amended operating obligations to avert bankruptcy.
  • $30,000 cost reduction reached by training and directing property management to evaluate the cost effectiveness of utilizing contractors as opposed to staff for maintenance and repairs.
  • $20,000 savings accomplished by modifying the management process for preparation of Housing and Urban Development (HUD) inspections.

  Grant & Fund Acquisition

  • $7 million industrial development revenue bond negotiated and structured to fund the construction of a commercial building to accommodate county and organizational programs and services.
  • $150,000 grant obtained to fund a pilot program generating $90,000 from rehabilitating and selling vacant houses, and 13 unemployed clients trained, with three participants accepting employment offers.
  • $20,000 grant awarded to perform a retail market study resulting in approval of plans to develop a commercial corridor for construction of up to 150,000 square feet of multi-use property.
  • $15,000 grant attained to replace vacant lots with “passive parks” in association with neighborhood residents.