NEIC Mission
The Northeast Investment Cooperative (NEIC) leverages member-owners’ investments to purchase and rejuvenate stressed and poorly utilized residential and commercial properties in Northeast Minneapolis, with an emphasis on the Central and Lowry Avenue corridors. Consistent with the principles and spirit of the cooperative movement, NEIC makes long-term, stabilizing, and transformative investments for the mutual benefit of our members and our community.
NEIC Values
We rehabilitate, maintain, and lease our properties in a way that enhances their value and contributes to the overall quality of life in Northeast Minneapolis.
We create multiple positive returns on investment for our members and our community.
The Rochdale cooperative principles guide our work:
Voluntary and open membership
Democratic Member Control
Member Economic Participation
Autonomy and Independence
Education, Training, and Information
Cooperation among Cooperatives
Concern for Community
Strategic Direction
Around November 2021–January 2022, NEIC held a series of member engagement events to help inform the co-op's focus going forward. The NEIC board of directors listened to the feedback that members offered during these events, and developed the following strategic directions for NEIC:
Focus on the "Northeast-plus" geographic region. That means working within the Northeast area, plus a little bit into adjacent neighborhoods. Keep a flexible definition of "Northeast", without relying on hard and fixed boundary lines.
Continue to focus on commercial real estate.
Prefer tenants who are independent and locally owned businesses and organizations.
Improve the Board and Committee experience for members who serve. NEIC's board of directors and committees are entirely staffed and run by volunteer NEIC members. Support the members who support NEIC in these critical roles.
Improve the onboarding process for new board and committee members.
Manage the accumulated knowledge from over 10 years of NEIC history.
Ensure that everyone on the board or a committee can easily find the information they need to support their activities.
Use a proactive targeting approach to finding new projects. Choose and prioritize target spots, such as a specific intersection or block, within the NEIC working area. Directly approach owners of real estate within targeted spots. Prefer vacant or underutilized properties that offer opportunities for revitalizing the neighborhood.