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Environmental impact bonds offer innovative approach to improve public spaces

Environmental impact bonds (EIBs)—a pay for success (PFS) strategy—have become increasingly popular in cities with combined sewer systems that collect rainwater runoff, sewage, and wastewater in the same pipe.” During periods of heavy rainfall, sewage from these systems can flow into local rivers, damaging local water and air quality, natural habitats, and public spaces.
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Texas county aims to house 250 homeless people through pay for success

A budding pay for success (PFS) project in Travis, County, Texas aims to house and provide wraparound services to 250 people experiencing chronic homelessness over the course of five years. A feasibility report published by the Corporation for Supportive Housing found that these frequent utilizers of the county’s medical, emergency, and jail services cost taxpayers on average $222,000 per person a year.
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Largest pay for success fund launches this week

This week, a group of investors announced the creation of the Community Outcomes Fund (paywall)—a $40 million pay for success (PFS) fund. Started by former Microsoft CEO Steve Ballmer and his wife, Prudential Finance, Inc., and the Kresge Foundation, with Maycomb Capital as fund manager, this PFS fund is the largest to date.
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PFS starting points: Population, intervention, & outcomes

Pay for success (PFS) projects have to answer numerous questions that ultimately influence the project, including who will serve as the end payor, which service provider to contract with, the preferred evaluation method, and details of the repayment plan. Three primary, interrelated questions that ultimately define the project are related to the target population, outcomes, and intervention: Who is being served? What are the outcomes of interest? Which evidence-based intervention links the two?
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PFSI Glossary: A resource for the PFS field

What’s the difference between a pilot and a ramp-up period? Why is the effect size important? And who serves as an intermediary?