Featured - Community Development Resources
The Federal Reserve Bank of Chicago and the Alliance for Regional Development will host the Sixth Annual Summit on Regional Competitiveness on October 29, 2018. The Summit serves as an important event for regional stakeholders to meet, network, and identify areas for collaboration.
The Call for Papers is now open for “Renewing the Promise of the Middle Class,” the 2019 Federal Reserve System Community Development Research Conference. Abstracts or drafts are due no later than October 9, 2018. The conference will share research on factors influencing the financial and socioeconomic status of individuals and families and is open to research on topics that use various definitions of middle class, as well as papers that speak to relevant issues but do not explicitly use “middle class” in their framing. Of particular interest is research that explores specific challenges and opportunities for specific subgroups, including lower-income, minority, young-adult, elderly, rural or other diverse populations.
This new publication from the Dallas Fed explores recovery efforts in the wake of recent natural disasters across the United States. It presents guidance on how financial institutions can help advance disaster recovery in low- and moderate-income communities and meet their obligations under the Community Reinvestment Act.
These case studies from the Federal Reserve Bank of Dallas take a look at cross-sector partnerships that advance workforce and economic competitiveness in five regions: Rio Grande Valley, Texas; West Central Texas; Northeast Louisiana; Lane County, Oregon; and East Bay, California.
In this paper, the authors provide a regional snapshot of housing affordability and the availability of affordable rental housing units at several scales for the Atlanta Fed's district, using data from the 2015 American Community Survey. The results demonstrate the widespread lack of affordable housing in large metropolitan areas, small and midsized regions, and nonmetro regions throughout the Southeast. The authors also show that extremely low- and very low-income households are disproportionately cost-burdened.
Reinventing the agricultural economy in Indian Country: A conversation with Zach Ducheneaux of the Intertribal Agriculture Council
In this July 2018 interview with Community Dividend, an online publication of the Minneapolis Fed, rancher Zach Ducheneaux from the Cheyenne River Sioux Reservation in South Dakota discusses his work promoting credit access and agricultural infrastructure in Indian Country.
This Connecting Communities® webinar on July 26 highlighted the new Opportunity Zones tax incentive, which aims to drive long-term equity capital to distressed communities by providing tax benefits on investments in Opportunity Funds. Speakers provided details on how the tax incentive is expected to work and highlighted emerging national and local strategies to engage residents around how these funds are deployed in their communities. Presenters included Rachel Reilly, Director, Impact Investing, Enterprise Community Partners; Eric Robertson, President, Communtiy LIFT; and Amanda Roberts, Senior Community Development Analyst, Federal Reserve Board of Governors.
By providing their workers with access to affordable, low-risk credit, companies could help ease personal financial stresses—and improve their own bottom lines. Read more in this June 2018 article from Community Dividend, an online publication of the Minneapolis Fed.
Using data from the Federal Reserve Banks' 2017 Small Business Credit Survey (SBCS), this paper investigates the various ways in which different types of firms with less than 500 employees experience and address hiring difficulties, including when they decide to increase compensation.
The results provide insight for policymakers trying to understand the linkage between compensation, labor market tightness, and productivity. Further, the variation in hiring difficulties across firm industry, education requirement, and geographic location informs economic and workforce development practitioners and policymakers working to develop targeted interventions.
Nearly 10 years have passed since Hurricane Ike hit Galveston, Texas, yet many low- and moderate-income neighborhoods and affordable homes have not been rebuilt or replaced. The result is a community that is less economically diverse and more likely to face serious workforce challenges in the coming years. This new Dallas Fed report explores the impact of redevelopment efforts and gentrification on Galveston specifically, but the lessons learned can inform individuals and communities recovering from recent natural disasters across the U.S.
The fair lending laws and the Community Reinvestment Act view lending through two different lenses: one focused on protected classes and one focused on income level. Yet despite the distinction, the laws can work in concert to promote more equal access to credit. This article explores these laws and discusses how they intersect. Featured in Community Dividend, an online publication of the Minneapolis Fed, on March 8, 2018.
The Community Investment Explorer (CIE) is an interactive tool that aggregates more than 500,000 transactions from the three programs that drive investment into underserved communities—the Low Income Housing Tax Credit, Community Development Financial Institutions, and New Markets Tax Credit programs, which support a range of activities from affordable housing to commercial real estate development, consumer and business lending, and more.
This podcast asks community members and organizations across the U.S. about the challenges they are facing and solutions they’ve found for significant social issues like economic mobility, affordable housing, small business development and community reinvestment. Each episode showcases programs that help provide access to opportunity for low- and moderate-income individuals and families. The latest episode, "Access to Job Success," features an organization that helps reduce barriers to job success for workers and includes an interview with former U.S. Secretary of Housing and Urban Development Julián Castro. All episodes are available at accesspodcast.org or on iTunes, Stitcher and TuneIn.
The Center for Indian Country Development at the Federal Reserve Bank of Minneapolis has released the Tribal Leaders Handbook on Homeownership, a comprehensive guide to mortgage lending and creating successful homeownership programs in Indian Country. (For an overview of the handbook's development and features, see this CICD Blog post.)
Bridges is a quarterly review of regional community and economic development issues, projects, and regulatory changes for practitioners from community-based organizations, as well as for CRA officers, academics, and government officials that work in the Eighth Federal Reserve District. Feature articles in the Winter 2017-2018 issue include: New St. Louis Fed Tool Dives Deep into Community Investment; Cash on Hand Is Critical for Avoiding Hardship; Connecting a Memphis Community to the Built Environment through Equity; Investment Connection: The St. Louis Fed’s New Approach to CRA; CRA: An Examiner’s Perspective – Questions to Ask Workforce Development Partners; and more.
Ever wonder about the Federal Reserve’s involvement in the field of community development? Wonder no more. Released in June 2014, Federal Reserve Community Development Perspectives: A summary of activities, insights, and future opportunities answers the "what," "why" and "how" of the Fed's role in community development. The report highlights the Fed’s recent efforts to address barriers to economic growth, and promote fair and informed access to financial markets. Featuring brief summaries of its community development work organized into four focus areas--people, place, the policy and practice of community development, and small business--the report includes background information that helps to provide context for this work, a sampling of key research, outreach programs and other initiatives, as well as some ideas on future challenges, needs and opportunities.