Publications - Community Development Resources
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.
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.
This issue of Community Scope presents key findings from the 2017 Richmond Fed’s Survey of CDFIs in the Southeast.
This issue of Community Practice Papers details one path to further advance the Pay-for-Success (PFS) field in the United States — the use of universities, and specifically the University of Virginia’s Pay for Success Lab.
Community Practice Papers: Community Development Corporations- Diverse Practices Across North and South Carolina
In this issue of Community Practice Papers, we take a look at examples of sustained and emerging business models from rural and urban Community Development Corporations across North and South Carolina.
5th District Footprint: The Community Reinvestment Act and Medically Underserved Areas /Populations in the Fifth District
This issue of 5th District Footprint examines Fifth District census tracts eligible for Community Reinvestment Act (CRA) investment and designated as Medically Underserved Areas/Populations (MUA/Ps) by the Health Resources and Services Administration (HRSA).
How can a small city that suffers a natural disaster recover economically? This article explores the economic success and challenges of Cedar Rapids, Iowa, in the wake of a disastrous 2008 flood.
Since their creation in the 1990s, community development financial institutions (CDFIs) have worked to aggregate capital to help economically distressed communities across the United States. Because CDFIs have a mission to serve distressed or low-income communities, they are a natural partner for banks and other investors. Even so, long-term, affordable financing is one of the most pressing and persistent challenges facing the CDFI industry.This article discusses the current state of CDFI-Federal Home Loan Bank (FHLBank) membership. It focuses on several new FHLBank members in the Atlanta region, providing lessons that could be useful to others considering FHLBank membership.
Community development and health professionals often work with the same residents in separate silos, but that is beginning to change. This article previews a paper on emerging health-community development partnerships in the Southeast.
This article explores the Small City Economic Dynamism Index, an interactive data tool that examines the economic trajectory of small and midsized cities. As the article explains, the tool's interactive charts enable peer comparisons and visualization of trends across time. The information can be used to support development of local policy, strategies, or funding proposals related to community and economic development in small and midsized cities.
Can Community Development Improve Health? Emerging Opportunities for Collaboration between the Health and Community Development Sectors
The two sectors of community development and health have long worked in the same neighborhoods, but they have not always worked together. This is starting to change, due in part to a growing recognition among health experts of the social determinants of health—the social, economic, and environmental factors that drive health outcomes. This discussion paper reviews early lessons on how to build a successful health and community development partnership, including an examination of the incentives for community developers, health professionals, state and local governments, and philanthropy to participate in these collaborations.
In 2017, the Community Reinvestment Act (CRA) turned 40. This Dallas Fed publication examines the impact, successes and challenges of the CRA in Texas. It analyzed the performance evaluations of a sample of Texas banks to assess the CRA's monetary benefit and polled bankers to understand their perceptions of how the act is contributing to low- and moderate-income communities.
This paper sets a framework for building transformative economies. Prepared by Paul C. Brophy, Robert Weissbourd, Andy Beideman for the Economic Growth and Mobility Project, the authors share policy levels to foster inclusive growth practices and highlight emerging approaches and innovative programs in regions across the country.
Coming Up with the Money: Five Principles for Launching a Successful Community Development Initiative
This guide, designed especially for those new to the field of community development, also serves as a refresher and resource for those who don’t engage in financing projects regularly or those who would like to consider new partners and new tools for upcoming projects.
The Federal Reserve Bank of Atlanta’s interactive data tool enables policymakers and practitioners to examine local trends and compare cities across several measures of economic dynamism. The latest version of the index comprises 13 indicators across four categories (demographics, economics, human and social capital, and infrastructure) and includes data on 400 metro and micropolitan areas with populations between 50,000 and 500,000.
What does it take to measure and fund positive social change? This new book from the San Francisco Fed and Nonprofit Finance Fund sets a vision for revolutionizing the way America achieves social progress: By paying for results. The book features a collection of essays by 80 authors with wide expertise on the social, cultural, and financial implications of orienting programs and funding around outcomes.
Social Impact Bonds have demonstrated significant growth potential within their defined boundaries, but the standard model has not yet developed “mainstream” investment transactions capable of expanding certified evidence-based programs (CEBPs) commensurate with unmet population needs. This San Francisco Fed paper proposes an enhanced SIB model called “Scale Finance” in which asset owners and fund managers would work with CEBP developers to expand these proprietary programs at their maximum feasible growth rates.
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 Spring 2017 issue include: Memphis and Beyond: Assessing the Market for CRA Investment; Does College Level the Playing Field?; Back to the Future: Financial Capability in Social Work Practice; CRA: An Examiner’s Perspective – Train for Results!; Entrepreneurship and Re-entry: Aspire Entrepreneurship Initiative; and more.
This white paper produced by the St. Louis Fed focuses on the benefits of nonprofit co-location, the unique position of CDFIs to partner with these facilities, and how co-location is happening in the U.S. The research was presented at the Bank’s Social Purpose Real Estate Regional Conference; materials and videos from the event are available here.
Building on the concept of creative placemaking, this paper from the San Francisco Fed presents an idea for a Community Development Financial Institution organized around art: CultureBank. Housed at Yerba Buena Center for the Arts, this nonprofit bank will specialize in unleashing asset value in art collections and focus on artists as borrowers, or Artist-Entrepreneurs.
The second issue of Community Scope 2016 examines the patterns in geographic service provision by respondent CDFIs in urban, rural, low- and moderate-income (LMI), underserved and distressed markets and areas.
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 2016-2017 issue include: Indianola Promise Community: Improving Academic Outcomes in the Delta; Working Together to Address the Wealth Gap; Community and Economic Development: Around the Globe and Back to the Mississippi Delta Region; 12 Steps to Financial Success: Empowering At-Risk Adults; Memorial Community Development Corporation: Putting Faith to Work; and more.
How accessible is high-speed internet across the Fourth District states of Kentucky, Ohio, Pennsylvania, and West Virginia? Two Cleveland Fed researchers examine through analysis and maps what's being considered a new form of infrastructure.
Two Cleveland Fed analysts examine how organizations such as Kentucky Homeplace have been working in eastern Kentucky to reduce health disparities and build a healthier and more productive population and a stronger regional economy.
Recent revisions to regulatory guidance do not strip the bank branch of its importance for achieving compliance with the Community Reinvestment Act. A Cleveland Fed writer examines the interaction between regulators and bankers as financial institutions are serving communities in increasingly digital ways.
Contact information for CDFIs in the Southeast region of the U.S. (Maryland, District of Columbia, West Virginia, Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana, Arkansas, Tennessee and Kentucky), updated in partnership with The Support Center in North Carolina and CDFI Fund.
In this issue of 5th District Spotlight, the Richmond Fed looks at social and economic conditions that may directly or indirectly affect health outcomes. Research shows that factors such as a quality education, stable employment, safe surroundings, access to healthy food, transportation options, internet connectivity, and preventative and support services may contribute to individual physical health, as well as to overall health-related quality of life for a community.
Taking Stock of New Supermarkets in Food Deserts: Patterns in Development, Financing, and Health Promotion
Across the U.S., neighborhoods face disparate healthy food access, which has motivated federal, state, and local initiatives to develop supermarkets in “food deserts.” Differences in the implementation of these initiatives are evident, including the presence of health programming, yet no comprehensive inventory of projects exists to assess their impact. Using a variety of data sources, this Working Paper from the San Francisco Fed provides details on all supermarket developments under “fresh food financing” regimes in the U.S. from 2004-2015.
When addressing complex problems, evidence suggests common learning mechanisms are not effective. Learning communities provide an opportunity to learn and network but with a more deliberate focus on knowledge exchange, team building, and innovation. A recent study published by the San Francisco Fed shares insight on the design of learning communities and reveals best practices for building team cohesion, strengthening the capacity of the stakeholders involved in the work, and sparking new and creative thinking.
Understanding the Crowd, Following the Community: The Need for Better Data in Community Development Crowdfunding
In the past half-decade crowdfunding has emerged as a popular way to raise money online for a wide range of projects. As the reach of crowdfunding has expanded, the field of community development has the potential to benefit from the practice, both as a straight fundraising mechanism and as a way to give greater voice to community members. This San Francisco Fed working paper makes the case that in order for community development crowdfunding to reach its potential scale, and to involve the full range of potential stakeholders, better standards of data reporting and collection need to be established.
Healthy Food Access: A View of the Landscape in Minnesota and Lessons Learned from Healthy Food Financing Initiatives
This report of findings from a joint Minneapolis Fed-Wilder Research study sheds light on food deserts in Minnesota and barriers to expanding healthy food retail. It features statewide and regional maps and data tables.
The Choose Health program offers farm-fresh produce plus an educational component that's designed to improve participants' health in the long term. From Community Dividend, a publication of the Minneapolis Fed.
Long-term, affordable financing is one of the most pressing and persistent challenges facing the community development financial institution (CDFI) industry. Regulatory and business cycle pressures have tended to limit the borrowing terms available to CDFIs. This January/February 2016 Partners Update article explores the current state of CDFI-Federal Home Loan Bank (FHLBank) membership by focusing on several new FHLBank members in the Atlanta region
How have some small cities forged a path to economic resurgence while others still languish? Representatives from several Federal Reserve Banks and place-based funders are on tour to find out. In this first article in a Partners Update series, they study a revitalized Chattanooga.
IFF: A Leading Community Development Financial Institution Expanding Its Market Reach across the Midwest
In this 2015 edition of ProfitWise, the Chicago Fed profiles IFF--formerly Illinois Facilities Fund-- one of the largest and most innovative Community Development Financial Insitutions (CDFIs) nationwide. In its 27th year of operation, IFF is expanding its financial and development services, and its impact on low- to moderate-income communities, to a broad collection of Midwestern states.
The St. Louis Fed’s annual Community Development Outlook Survey gathers input from a variety of stakeholders regarding the economic conditions of low- and moderate-income (LMI) households and communities in the seven states that make up the Fed’s Eighth District. Data from the survey is used to inform strategic planning, community and economic development, and public policy dialogue around issues and challenges for the District’s LMI areas.
This Dallas Fed article highlights programs that support nonprofits in influencing policy through advocacy, election involvement and communication with elected officials. Featured is the new Texas office of Alliance for Justice (AFJ), a national association of organizations committed to ensuring all Americans can fully participate in the democratic process. AFJ's work in Texas includes trainings and technical assistance in partnership with other local organizations dedicated to policy reform and advocacy.
The opportunities and challenges in a given community are complex, and to understand them requires a thorough assessment of data intertwined with the voices of local businesses, non-profits, and residents. Using Los Angeles as an example, this analysis from the SF Fed incorporates quantitative and qualitative data to holistically assess a county’s needs.
CRA OneSource is your source for Community Reinvestment Act tools, templates, guides, webinars and other resources to assist you in preparing for an exam and growing your community development program.
Established in 2007, the Community Banks Partnership is an innovative collaborative that supports NHS’ community reinvestment programs and services through financial support, lending capital, service and counsel. This group meets at least once annually to discuss issues important to the housing and lending industries. This article, from Issue 3, 2015 Profitwise News and Views, summarizes a second quarter convening at the Chicago Fed: NHS of Chicago’s annual Community Banks Partnership meeting. Among other topics, panelists discussed the housing market for ‘millennial’ buyers, and the regulatory landscape for community banks.
Community development practitioners want to know how much banks are investing in a particular geography, as that information could help them "right-size" their strategy for bank partnerships. This second Partners Update article on the CRA, released in September/October 2015 by the Atlanta Fed's Will Lambe, provides an approximate figure for the Southeast.
Some municipalities are using community development initiatives that capitalize on the strengths of the community and its residents to improve living conditions. But what motivates residents to engage with their local government in the first place? This November/December 2015 Partners Update article investigates findings from an Atlanta example.
With more and more entrepreneurs turning to quick, online lending options, could mission-focused lenders, such as CDFIs, use similar technology tools to improve efficiency and capture some of this business activity? From the October 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Keeping communities informed through the open data movement: A conversation with Otto Doll of the City of Minneapolis
Otto Doll, the chief information officer for Minneapolis, shares his insights about making a municipality’s administrative data available to the public. From the October 2015 issue of Community Dividend, a publication of the Minneapolis Fed.
Published by the Philadelphia Fed, the Community Development Data Inventory describes timely and publicly available data sources to help inform the work of those involved in community development research or practice. This November 2015 release contains updated information and an expanded number in the inventory, from 16 resources to 24. The resources are described in easy-to-read, two-page summaries organized by topic, including Economy/Employment, Household Financial Stability, Housing/Homelessness, and Data/Mapping Platforms.
The Kansas City Fed’s November 2015 Community Connections provides insights into borrower activity and looks at the future role of CDFIs. The issue also explores the relationship between community development and health, and examines creative approaches to workforce development and entrepreneurship.
Missed the live webcast? Presentation slides and videos are now available from “Community Banking in the 21st Century,” the third annual community banking research and policy conference, hosted by the Federal Reserve System and the Conference of State Bank Supervisors (CSBS). Also available from the conference is a report that details conditions facing today's community bankers. Speakers and moderators of the event, held in St. Louis Sept. 30 - Oct. 1, 2015, included: Fed Chair Janet Yellen; Fed Governor Lael Brainard; St. Louis Fed President James Bullard; CSBS Chairman/Massachusetts Commissioner of Banks David Cotney; CSBS President and CEO John Ryan; and Houston Astros President of Business Operations Reid Ryan, founding investor and board member, R Bank and R Corp Financial, Round Rock, Texas.
This working paper from the San Francisco Fed looks at the lending performance of one CDFI, the Low Income Investment Fund (LIIF), through the Great Recession. Its authors argue that LIIF’s success weathering the downturn—relative to similarly-sized banks—is the direct result of a “patient capital” approach to portfolio management unique to the CDFI industry.
This article from the Cleveland Fed’s policy publication Forefront looks at why the community development and health sectors are increasingly working together to promote healthy individuals and healthy communities. The article also covers highlights from an October 2014 convening by the Cleveland Fed of health policy and community development officials from across Ohio to discuss building healthier communities in the state.
The US has used the Community Reinvestment Act (CRA) to encourage banks to keep their branches open in low- and moderate-income areas. Does access to physical branches matter? Findings in a Cleveland Fed Economic Commentary suggest that a physical presence gives banks the opportunity to get to know distressed areas better and channel resources to people who have demonstrated an ability to manage them. While the research shows the benefits that come from creditworthy borrowers in declining low-income areas being in close physical proximity to a bank branch, the public policy challenge is to identify how to get those benefits when private markets alone do not provide them.
Following the housing bust, the Community Reinvestment Act (CRA) came under scrutiny as one of the suspected contributors to the current financial crisis. However, a Cleveland Fed researcher found that CRA-regulated institutions provided a relatively small share of all loans within the Fourth Federal Reserve District—comprising Ohio, western Pennsylvania, eastern Kentucky, and the panhandle of West Virginia—and and an even smaller percentage of the riskier high-cost loans.
The Community Reinvestment Act helps drive significant investments into low- and middle-income communities, but not all communities benefit equally. This July/August 2015 Partners Update article by the Atlanta Fed's Will Lambe and Jessica Farr discusses where banks are motivated to act and provides a mapping tool to illustrate where particular banks engage in community development.
Over the past few years, there has been significant growth in the number of multi-site, cross-sector initiatives to improve communities and the lives of their residents. This working paper from the San Francisco Fed details “what works” and “pitfalls” in its analysis of both past and current initiatives. The paper also provides insights into the design and implementation of place-based efforts for community development practitioners, financial institutions, healthcare payers and others involved in site-specific initiatives.
Families who use housing vouchers to move from areas of concentrated poverty to better-resourced neighborhoods experience higher earnings and improved health. Housing mobility programs increase the effectiveness of housing vouchers by providing education and support. This San Francisco Fed working paper proposes using a Pay for Success financing mechanism to increase investment in housing mobility programs based on the hypothesis that healthcare savings stemming from a positive mobility outcome—specifically related to diabetes and obesity— are sufficient to pay the entire cost of the mobility program.
The process of and approach to community development might be as important as the technical solutions. A Partners Update article from July/August 2015 highlights two recent conferences that discussed this theme and addressed the need to create new approaches.
This article profiles “BankImpact,” a dynamic online tool that helps identify high-impact banks in Chicago that serve as anchors in underserved communities. Created by National Community Investment Fund (NCIF), BankImpact can help provide the data necessary to inform and attract impact investors and help banks better understand and contextualize their (own) performance.
Economic Dynamism in Small Cities (Part 2): Migration, Commuting, New Firm Creation, and Population Density in Small Cities
The factors that contribute to economic dynamism in a small city can be elusive to define and measure. This May/June 2015 Partners Update article by the Atlanta Fed's Will Lambe looks at some elements of small city economic dynamism that may contribute to growth and development.
Recently updated, the Community Development Data Inventory is a collection of timely and publicly available data sources for those engaged in community development work. This tool highlights resources that can inform key community development issues and research needs, including demographics, the economy and jobs, housing, and education. For each resource, the guide includes an overview of the data, a description of the methodology and accompanying variables, links to training guides and additional information, and a few illustrations of the resources themselves.
The St. Louis Fed’s annual Community Development Outlook Survey gathers input from a variety of stakeholders regarding the economic conditions of low- and moderate-income (LMI) households and communities in the seven states that make up the Fed’s Eighth District. Data from the survey is used to inform strategic planning, community and economic development, and public policy dialogue around issues and challenges for the District’s LMI areas.
Many small cities are growing at faster rates than has occurred in decades. This March/April 2015 Partners Update article by the Atlanta Fed's Will Lambe examines factors that contribute to economically vital small cities.
As the country continues to rebound from the recession, community development financial institutions (CDFIs) are working to meet the needs of communities that slipped through the cracks during this turbulent period or that had few safety nets even before the recession. This March/April 2015 Partners Update article, authored by Atlanta Fed visiting scholar Donna Gambrell, discusses CDFIs doing business in the Southeast. These lenders provide capital for affordable housing, small businesses, schools, health centers, and manufacturing facilities.
In terms of health, the Southeast tends to trail behind other parts of the country, though efforts are under way to address these persistent challenges. In this Partners Update article, the Atlanta Fed's Karen Leone de Nie and Will Lambe look at resources generated in our region and by our Fed colleagues connecting health and community development.
This article provides a recap of the Great Lakes Ports and Regional Growth: Integrating Environmental Health and Economic Prosperity conference, co-sponsored by the Federal Reserve Bank of Chicago, the state of Illinois, the Great Lakes Commission, the National Oceanic and Atmospheric Administration and the Council of Great Lakes Governors. The conference explored new approaches to promoting economic development and maximizing local maritime assets, while protecting and enhancing the Great Lakes water resource.
Research demonstrates that where you live, and the socioeconomic conditions present in that place, determine individual-level health outcomes. Using community level data available through the City of Chicago Data Portal, as well as aggregated census tract level economic data compiled by the Federal Reserve Bank of Chicago, this article explores community-level socioeconomic status conditions and corresponding health outcomes in Chicago’s 77 communities.
This new Community Development Report from the Minneapolis Fed suggests that loan funds serving Native communities grew significantly in number and asset size from 2001 through 2012 and have generally posted fairly positive financial ratios.
The EB-5 program was designed to attract foreign investment into economically distressed communities, but is it achieving that goal? A second blog post by the Atlanta Fed's Will Lambe discusses some southeastern projects and raises several issues for community and economic developers to consider.
Is your county one of the 68 counties in the Fifth Federal Reserve District that have become more urban since 2003? Or is it one of only 22 that have become more rural? Find out in this issue of 5th District Footprint, which takes a look at changes along the rural-urban continuum in the Fifth District between 2003 and 2013.
Twice each year, the Richmond Fed surveys experts representing the numerous, highly diverse communities in the Fifth Federal Reserve District to identify the most pressing current and emerging issues. This edition of Community Pulse presents findings from the Fall 2014 survey, reflecting a broad cross-section of community perspectives from across Maryland, North Carolina, South Carolina, Virginia, West Virginia and the District of Columbia.
Community development efforts to revitalize low- and moderate-income neighborhoods should begin with an appropriate understanding of the needs and opportunities present within these communities. This sentiment is especially true of banks looking to fulfill their Community Reinvestment Act (CRA) obligations. A truly responsive and innovative CRA program should begin with the “performance context,” or knowledge about the bank’s local markets, including the needs of the community as well as the opportunities that exist within the local network of resources and organizations. This paper from the San Francisco Fed attempts to demystify the performance context and establish its strategic value to the CRA process. It explores new opportunities for strengthening the performance context as a community development tool, from the perspective of both bankers and regulators.
With 90 percent of the world’s data generated in just the past two years, What Counts: Harnessing Data for America’s Communities challenges policymakers, funders, and practitioners across sectors to seize this new opportunity to revolutionize our approaches to improve lives in low-income communities. This book from the Federal Reserve Bank of San Francisco and the Urban Institute provides a roadmap for the strategic use of data to reduce poverty, improve health, expand access to quality education, increase employment, and build stronger and more resilient communities. Videos from the launch event on December 4, 2014, are available on the San Francisco Fed's Community Development YouTube channel.
Community and economic developers are always looking for new ways to help revitalize economically distressed communities. In a blog post, the Atlanta Fed’s Will Lambe looks at one rather novel program that could help: the Immigrant Investor Program, or EB 5.
The Community Development Data Guidebook, published by the San Francisco Fed, provides information on a variety of community development data resources, divided by topic area, along with a practical application of how to retrieve the data and suggestions on how to conduct appropriate analysis.
The unemployment rate has dropped faster than expected since the end of the Great Recession, but it is still higher than normal. Who are the unemployed? How does today’s unemployment rate compare with historical highs and lows? Find out the answer to these questions and more in the latest issue of 5th District Spotlight, an engaging infographic of unemployment-related statistics in the Fifth Federal Reserve District.
Published by the San Francisco Fed, this paper demonstrates that the greatest reduction in health care costs after placement in supportive housing is seen among chronically homeless adults and seniors who are frequent users of the health care system. The findings support the conclusion that permanent supportive housing can be a highly cost-effective placement option for homeless seniors exiting skilled nursing facilities, particularly as they approach the end of life, and points to the importance of this housing option for managed care organizations that are increasingly taking on the financial responsibility for the health care of this population.
How are New Markets Tax Credits (NMTCs) being used in your area? Which city received the largest amount of NMTC investment? Find out in the July 2014 issue of 5th District Footprint, which offers a brief look at NMTC investment across the Fifth Federal Reserve District.
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.
What is the impact of the CDFI Fund on institutions that receive funding, and what is the return on investment? In this Economic Commentary, Cleveland Fed economist Kristle Cortés and Harvard Business School professor Josh Lerner evaluate the Fund’s core program. Examining 10 years of propriety data provided by the US Treasury, they measured the increase in lending at credit unions that received grants, those that applied but did not receive grants, and those that never applied. Their results show that CDFI Fund grants do increase lending, by 3 percent. And for every dollar awarded, 45 cents is loaned out to borrowers in the first year and up to $1.60 is loaned out within three years.
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 Spring 2014 issue include: Local Innovation, National Impact: Engaging Municipal Government in Financial Empowerment; Enrollment, Student Debt and LMI Communities; We’ve Met the Solution, and It Is Us; West Tennessee Day Trippin’: Rural Tourism Campaign Builds Regional Partnerships for Community and Economic Development; From the Ozarks to the Delta: A Historical Perspective of Regional Poverty in Arkansas; and more.
This May 2013 paper by the Minneapolis Fed and partners is a discussion of the context and potential benefits of forming a statewide CDFI network in Minnesota. Featuring comments from Minnesota CDFI practitioners, recommendations for next steps, and information about established national and state-level CDFI networks.
This special issue of Community Investments from the San Francisco Fed highlights excerpts from Investing in What Works for America’s Communities: Essays on People, Place & Purpose, with a particular focus on the topic of integration, a prominent theme that emerges from the book.
Launched in 2011 by the San Francisco Fed, this project collects input from community stakeholders about the issues and trends facing low- and moderate-income communities in the 12th District. Reports synthesize key themes that emerge from the surveys.
This report published by the San Francisco Fed provides an operational and financial overview of the community health center industry for the years 2008 – 2011. Prepared with the goal of increasing the information available to lenders and investors on community health centers nationwide, this document is the second of a series of studies supported by Citi Foundation, which will further illuminate the financial and operational trends of this group of organizations.
This paper published by the San Francisco Fed provides insights and tools to help community development practitioners, policymakers, funders, and other stakeholders better understand how to maximize the effectiveness and impact of different types of organizations at the local and regional level. Understanding your comparative advantages is critical to addressing complex community development initiatives from foreclosure prevention, to sustainable energy, to urban education, to job creation.
The impact investing marketplace is gaining traction—investment vehicles now span asset classes, infrastructural improvements are enhancing transparency and investor confidence, and social enterprise is maturing with a new generation of entrepreneurs. This paper published by the San Francisco Fed focuses on family investing through family offices and foundations and the factors that families and advisors consider when deciding whether or not to invest for impact.
The Federal Reserve Bank of San Francisco, in partnership with the Robert Wood Johnson Foundation, launched the “Healthy Communities” initiative in 2010 to explore how the health and community development sectors can collaborate. A regional meeting took place in Las Vegas in January 2012, which led to the formation of the Las Vegas Healthy Communities Coalition (LVHCC), a collective impact initiative with a mission to “foster collaboration and coordination across multiple sectors and stakeholders, to generate healthy outcomes for all Southern Nevadans.” This report, authored by Laura Choi, details the formation and progress of LVHCC, which is still in the early stages of development.
This issue of the San Francisco Fed’s Community Investments explores the emerging approach of collaborative community development and lifts up early learnings from pioneers in the field. The articles discuss how to establish and grow collective action leadership organizations and working groups and build a strong but flexible initiative framework; consider how government can be an effective partner in collective action work; and convey the critical role of data and measurement in these initiatives.
The Dallas Fed provides a quick reference guide to the Community Reinvestment Act regulation and examination procedures.
This issue of the San Francisco Fed's CDIR focuses on Pay for Success financing, its origins, models, potential implications, exciting potential and possible pitfalls. Pay for Success is a tantalizing idea, but it also raises important questions.
This issue of the San Francisco Fed's CDIR includes the proceedings of the “Advancing Social Impact Investments through Measurement” conference held at the Federal Reserve Board of Governors in 2011. The issue also includes a series of thoughtful essays written by conference attendees in response to what they heard at the convening.
This issue of the San Francisco Fed's CDIR is dedicated to a simple idea: innovative ideas to solve poverty should not stop at the national border. There are too many good ideas abroad that can help inform our practices domestically, and good ideas here that can be relevant to other countries.
Community Development Investment Review: Building Scale in Community Impact Investing through Nonfinancial Performance Measurement
In the community development finance and impact investing worlds, there is both universal agreement on the need for better social outcome measurements and no consensus on how to do it. In this issue of CDIR, the San Francisco Fed offers ideas on how we might contribute to an ongoing process to establish a tool—or many tools—that help us measure the social benefit of impact and community investing.
In this issue of the CDIR, the San Francisco Fed explores the intersection of community development and health. Specifically, authors offer varying perspectives on how to “bend the health cost curve” using innovative community development strategies and how to positively affect social determinants of health to generate better health outcomes for low-income people.
Can credit data tell us anything about the Community Reinvestment Act's impact on individuals? Examining data on consumer credit outcomes from 2004 to 2012, researchers at the Boston Fed show that individuals in low- to moderate-income CRA-eligible neighborhoods have more contact with formal credit markets than those in very similar neighborhoods that do not qualify for CRA credit.
Community development financial institutions often play a critical role in financing the infrastructure that makes good health possible. From the April 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
A 2013 mandate from the U.S. Treasury resulted in a reduced but focused pool of community development financial institutions. From the April 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
Investments in local arts and culture can create social, human, and economic capital. From the April 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
This issue of Community Pulse presents the results of the Federal Reserve Bank of Richmond's spring 2014 survey of most pressing current and emerging issues of its numerous and highly diverse communities. Access to affordable housing, availability of jobs locally and improving the quality of K-12 education were the top three current issues in the Fifth District.
In disadvantaged neighborhoods, the condition of the housing stock can vary from block to block. On one block, homes appear well kept and in good condition, while on another, many homes show signs of physical distress. Since the blocks within the same neighborhood are often similar in terms of home values, what accounts for this pattern? And is there any contagion effect of home maintenance? Researchers at the Boston Fed examine this issue in several Boston neighborhoods in this report.
A physical and online exhibit, “What Does the Fed Do? 100 Years Serving as the Nation’s Central Bank” provides, among other unique features, an intriguing brochure on Fed history, the original painting of President Woodrow Wilson signing the Federal Reserve Act and a giant freestanding map of all the Federal Reserve districts made from shredded money. Check it out online, or in person at the Boston Fed.
Using Credit Reporting Agency Data to Assess the Link between the Community Reinvestment Act and Consumer Credit Outcomes
Can CRA have a positive impact at the individual level? To investigate the effect of the Community Reinvestment Act on consumer credit outcomes, researchers at the Boston Fed examined data for 2004 to 2012. While they found no statistically significant effects of the CRA on mortgages or foreclosures, either before or after the financial crisis, they did find evidence that CRA expanded broad measures of credit market activity.
The Federal Reserve Bank of Richmond’s Community Development Bank (CDB) Peer Group Analysis provides descriptive statistics on a peer group of community development banks that are tracked over time. The peer group of CDBs consists of banks that were in existence from the start date of the analysis and continue to be in existence as of the end date. The latest report incorporates data from 2005 to 2012.
Community Development Financial Institutions (CDFIs) are specialized financial institutions operating in markets that are underserved by traditional financial institutions. This section of the Federal Reserve Bank of Richmond's website provides information on CDFIs, with a particular focus on the Southeast region of the U.S. In addition, it includes a dedicated section on CDFI banks, also known as Community Development Banks (CDBs). Resources include webinars, data tables, reports, regulations, etc.
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. Feature articles in the Winter 2013-14 issue include: Family Scholar House: Educational Program Breaks Cycle of Poverty for Single Parents in Louisville; Health Around the Corner; Insight Park: Visioning for the Future of Oxford and Ole Miss; Anchor Institutions in the Mississippi Delta; Charter School Anchors St. Louis Neighborhood Revitalization; and more.
This article provides a recap of a summit convened to explore the shared goals and visions of the community development and public health fields; and where new opportunities exist for collaboration. The summit was hosted by the Community Development and Policy Studies (CDPS) division of the Federal Reserve Bank of Chicago, in partnership with the Illinois Public Health Institute, and the Adler School of Professional Psychology.
This 4th Quarter 2013 report of findings from the Minneapolis Fed’s semiannual Ninth District Insight survey shows overall improvement in some business and employment indicators, but overall deterioration of conditions in other areas. The survey captures front-line observations about issues that affect the economic health of low- and moderate-income communities.
Social Ties, Space, and Resilience: Literature Review of Community Resilience to Disasters and Constituent Social and Built Environment Factors
Given the importance of resilience in promoting an effective recovery from severe natural disasters, the factors that contribute to such community resilience are of great interest to scholars and practitioners. The value of strong social networks in resilience is among the most oft-repeated lessons learned in recent scholarship. In this paper, Atlanta Fed research analyst Ann Carpenter examines the intersection of three connected threads in the literature to understand one particular aspect of resilience: how the built environment contributes to greater resilience by supporting and encouraging strong social networks.
The Dallas Fed provides this roadmap of best practices in community development and a healthy communities framework that highlights investments valuable to financial institutions and their target communities. Also included is a list of CRA reference guides and a useful template for a Bank's performance context.
Despite limited resources, UNITY of Greater New Orleans, a coalition of 60-plus local agencies, permanently housed over 500 chronically homeless people last year. Learn how the coalition achieved that success in a case study highlighting best practices in the Southeast.
This Atlanta Fed case study highlights the innovative work done by the United Way Center for Financial Stability to leverage partnerships that provide low- and moderate-income individuals in South Florida with personalized financial coaching, credit counseling, tax preparation and other services.
Ninth District Insight is the Minneapolis Fed's semiannual survey to capture front-line observations about issues that affect the economic health of low- and moderate-income communities. This 2nd Quarter 2013 report is based on responses from 381 community organizations, including lenders, developers, and service providers.
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. Feature articles in the Fall 2013 issue include: Increasing Density: A Small-Town Approach to New Urbanism; Women Helping Women: Healing Hearts Bank at Redevelopment Opportunities for Women; The Graying of America: Preparing for What Comes Next and more.
Visit this resource to find information on Healthy Communities -- the intersection of community development and health -- including publications, presentations, podcasts, videos and web resources.
A growing movement to stock school kitchens with foods from local and regional farms and businesses is teaching kids the connection between nutritious foods and good health. From the January 2014 issue of Community Dividend, a publication of the Minneapolis Fed.
A performance-based social investment tool being piloted in some communities offers a new model for delivering social services. From the July 2013 issue of Community Dividend, a publication of the Minneapolis Fed.
The Federal Reserve Bank of Philadelphia’s Community Outlook Survey monitors the economic factors affecting low- and moderate-income (LMI) households in the Third Federal Reserve District. A report summarizing the most recent survey as well as an archive of prior surveys are available on our website.
This Spring 2013 issue of the quarterly publication by the Boston Fed features research and best practices for CBOs, policymakers, financial institutions. and others; articles include Latino Dairy Workers in Vermont; Access to Affordable Food in New Hampshire; Beginning Farmers and Local Food Systems; Closing the Academic Divide through Debate; Giving a Decommissioned Military Base New Life; The Urban Forest; Great Recession and Confidence in Homeownership.
Ninth District Insight is the Minneapolis Fed's semiannual survey to capture front-line observations about issues that affect the economic health of low- and moderate-income communities. This 4th Quarter 2012 report is based on responses from 381 community organizations, including lenders, developers, and service providers.
This issue of the Philadelphia Fed's Cascade spotlights the Community Development Financial Institution (CDFI) industry and the products and programs implemented by CDFIs and their funding sources. Also featured is Mark Pinsky, Opportunity Finance Network president and CEO, who provides perspective on the CDFI recertification process.
This quarterly publication from the Boston Fed is geared for lenders and community development practitioners and focuses on the economic concerns of low- and moderate-income constituencies and those who serve them. The feature article in this issue is on the topic of universal preschool.
This issue of Community Pulse presents the results of the Federal Reserve Bank of Richmond's fall 2013 survey of most pressing current and emerging issues of its numerous and highly diverse communities. Availability of jobs locally, affordable housing and budgetary issues at the state or local government level were the top three current issues in the Fifth District.