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
Gentrification: Research and Practitioner Perspectives
In urban areas across the United States, the demand for housing in center-city, amenity-rich neighborhoods is increasing, driven by young, college-educated, predominantly white residents. Those with higher incomes are able to outbid low-income residents, which may lead to voluntary and involuntary displacement of these households. In low-income, center-city neighborhoods, this is particularly troubling, as these neighborhoods offer greater access to public transportation, social services, employment centers, and social networks. Displacement could force vulnerable households into less ...
Spotlight on Research: The Impact of Government Subsidized Lending: Community Development Financial Institutions Fund
Access to credit in all segments of the population not only enhances the financial viability of individuals and their communities but also contributes to a robust economy. However, for various reasons, the private sector might not supply an adequate amount of credit or capital to meet the demand in certain areas. In these instances, the government might step in and bridge the gap. One approach taken by the federal government is to provide funds from the Community Development Financial Institutions (CDFI) Fund to financial intermediaries such as community development financial institutions ...
The Creative Economy Spurs Economic Development
The past decade has seen an increased interest in employing the arts as a community and economic development strategy. But this is not a new idea, Mark Stern, a social policy professor at the University of Pennsylvania, reminded participants at a Reinventing conference session on the arts and culture. This strategy dates back to the days of urban renewal in the 1960s when older industrial buildings and housing were replaced with symphony halls and cultural spaces. Today, however, there is interest in ?moving beyond larger, more mainstream investment in the arts to focus on more immediate, ...
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).
Corporation for Supportive Housing Integrates Housing and Supportive Services for Vulnerable Populations
Supportive housing, which was begun by visionary nonprofits in New York City in the early 1980s to serve long-term homeless people, offers vulnerable individuals and families their own affordable homes as well as access to a comprehensive array of flexible services, paving the way for successful tenancy, recovery, and community integration. Supportive housing is also being provided for other populations, such as those with mental illness backgrounds or with developmental disabilities.
Anchors Aweigh: Why Do Anchor Institutions Matter?
In many cities, the expectation of civic leadership from a few large corporations headquartered downtown has ebbed. Instead, cities are looking to nonprofit anchor institutions, such as universities, hospitals, and museums, to support economic development and other goals. As Eugenie Birch, co-director of the Penn Institute for Urban Research and one of the panelists at a Reinventing Older Communities session on anchor institutions, put it, ?Universities are the factories of the 21st century.?
CDCs: What Does Success Look Like?
Community development corporations (CDCs) understand that they have differing roles in differing contexts, depending on whether they are working with a high-vacancy, seriously depressed area where many residents and businesses do not want to stay; a rapidly gentrifying neighborhood; or a traditionally exclusionary suburb. The roles that CDCs play were explored in two sessions at the Reinventing Older Communities conference: The Future of CDCs: Three Compelling Visions and Measuring the Impact of CDCs.
Transportation Is a Necessary Component of Housing Equity
Those working in redevelopment have undoubtedly heard about transit-oriented development (TOD). In TOD, transit lines are the backbone of individual projects or entire centers built around a station area. TOD can reduce automobile dependency and make a community more amenable to walking and biking. More recently, equitable TOD (ETOD) has been advocated in response to the gentrification pressures that modern TODs often introduce, displacing the very people most reliant on transit out of the station area. Transportation equity is a relatively new concept to the affordable housing community. The ...
Equitable Transportation Tools and Publications
The following tools enable users to understand and analyze transportation trends and issues, with an emphasis on equity. The publications provide resources and strategies used in the equitable transportation field. All of these resources have been selected for their broad geographic scope or applicability