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Federal Reserve Bank of Boston
Public and Community Affairs Discussion Papers
The role of community partners in urban investments
Anna Steiger
Tessa Hebb
Lisa A. Hagerman
Abstract

Institutional investors seeking to deploy capital to underserved areas do not have either the time or the expertise to actively manage these specialized investments. Investment vehicles intervene by using their financial expertise to pool assets and lower transaction costs. Community partners, in turn, link the investment vehicle to the neighborhood. This paper develops a typology of community partners and their unique characteristics that enable them to overcome information asymmetries in certain markets. The paper also discusses the business models that establish the relationship between the investment vehicle and community partner to highlight strengths of the different models for delivering community transformation.


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Anna Steiger & Tessa Hebb & Lisa A. Hagerman, The role of community partners in urban investments, Federal Reserve Bank of Boston, Public and Community Affairs Discussion Papers 2008-02, 2008.
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Keywords: Community development
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