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Journal Article
Three Delaware Agencies Craft Program That Combines Housing Subsidies and Supportive Services
In 2010, the Delaware State Housing Authority (DSHA) partnered with two of its sister state agencies to create an innovative new program designed to meet the needs of some of Delaware?s most vulnerable citizens. The State Rental Assistance Program (SRAP) couples tenant-based housing subsidies provided by DSHA with supportive services provided by the Department of Health and Social Services (DHSS) and the Department of Services for Children, Youth, and Their Families (DSCYF).
Speech
Revitalizing New England cities: remarks at The Governor's Academy Tenth Annual Boston Business Leaders Luncheon in Boston, Massachusetts, April 10, 2018
The topic of this presentation was the Working Cities Challenge.
Journal Article
New Markets Tax Credits: The Next Tool for Community Development Financing
The New Markets Tax Credit (NMTC) has the potential to transform the financing of economic development in low-income communities much as the Low Income Housing Tax Credit (LIHTC) has done for affordable rental housing development.
Journal Article
Investing to Create Good Jobs
A growing number of foundation, nonprofit, and for-profit investors are making investments for measurable social and environmental impact as well as financial return. The ?impact investing? field includes a few investors that are investing in businesses specifically to create jobs for unemployed and underemployed residents. These investors also provide ongoing assistance to owners of the businesses to create ?good quality jobs,? which generally provide income above the minimum wage, health benefits, and training and opportunities for workers to move into positions with higher wages. Three ...
Journal Article
Mapping Our Community: Philanthropic Grant Funding for Community and Economic Development in the Third District
Along with public sources of funding, philanthropic capital can be a critical source of support for the community and economic development (CED) work of nonprofit organizations. Research by the Federal Reserve Banks of Philadelphia and Atlanta examined CED grants disbursed to recipients in U.S. metro areas between 2008 and 2013, and identified characteristics that help to explain the ability of certain metro areas to attract more philanthropic funding than others. The authors examined grants for more traditional CED projects (e.g., housing rehabilitation, urban development, financial ...
Journal Article
The Housing Market and Its Influences
The housing market influences our economic and social well-being. It serves as a prime mover of overall economic activity, the foundation for wealth creation, and the basis for the landscape of our neighborhoods as well as the dynamic relationship between cities (particularly older ones) and suburbs. The recent downturn in the housing market generated changes in its aforementioned influences. It also fostered changes in the regulatory environment in the mortgage market. These topics were discussed at the 2014 Reinventing Older Communities conference.
Journal Article
Maintaining Housing Affordability: The Role of University Partnerships in Iowa City and Other Communities
This article comprises two main elements; the first is a review of this process and those meetings. It begins with an overview of how UI policies have impacted affordable housing markets in Johnson County, the county home of Iowa City. The second section describes university partnerships that involve institutional engagement to address local housing issues and other local needs, shared by three university professionals from Drexel University, the University of Minnesota, and the University of Illinois at Chicago. The conclusion is a short description of next steps.
Report
Annual Report 2019
Central to our mission at the St. Louis Fed is our commitment to public outreach and the communities we serve. Our 2019 annual report highlights our community development work, from fostering partnerships between community-based organizations and funders through our Investment Connection program, to addressing economic challenges in the Arkansas and Mississippi Delta region, to examining the results of the “Bank On” low-fee banking movement. This year’s report discusses how these initiatives and others like them are helping to shape economic progress across the Eighth Federal Reserve ...
Report
President’s Message: Connecting with the Communities We Serve
The St. Louis Fed connects with those we serve in a variety of ways. Our 2019 annual report focuses on the St. Louis Fed’s community development efforts, including the Delta Communities initiative and Investment Connection program.
Journal Article
A Perspective on the Community Reinvestment Act
This year marks the 40th anniversary of the passage of the Community Reinvestment Act (CRA). The CRA placed an affirmative obligation on banks and thrifts to provide credit in the communities in which they serve, particularly in low- and moderate-income (LMI) neighborhoods. Indeed, there is evidence that the CRA has made important contributions in bringing capital into these communities