Community Development Working Papers
Working papers provide in-depth analysis of emerging community development issues from practitioners and scholars.
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The Geography of Foreclosure in Contra Costa County, California
Kristin L. Perkins
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Collaborators or Competitors? Exploring the Relationships between Community Development Financial Institutions and Conventional Lenders in Small Business Finance
Geoff Smith, Jennifer Newon, Sean Zielenbach, Sarah Duda
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Shifting Ground: Can Community Development Loan Funds Continue to Serve the Neediest Borrowers?
Julia Sass Rubin, Rutgers University
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Lending in Low- and Moderate-Income Neighborhoods in California: The Performance of CRA Lending During the Subprime Meltdown
Elizabeth Laderman and Carolina Reid, Federal Reserve Bank of San Francisco
The current scale of mortgage delinquencies and foreclosures—particularly in the subprime market—has sparked a renewed debate over the Community Reinvestment Act (CRA) and the regulations governing home mortgage lending.
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Addressing the Prevalence of Real Estate Investments in the New Markets Tax Credit Program
Lauren Lambie-Hanson, Federal Reserve Bank of San Francisco
The New Markets Tax Credit (NMTC) program was created by Congress in December 2000, at the end of the Clinton administration. When initially passed, the program was to provide a total of $15 billion in tax credits between 2001 and 2007 to subsidize investments in businesses and real estate developments serving low-income communities.
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Charter School Facilities Finance: How CDFIs Created the Market, and How to Stimulate Future Growth
Annie Donovan, Chief Operating Officer, NCB Capital Impact
This working paper examines the role that Community Development Financial Institutions (CDFIs) play in supporting the successful growth of public charter schools.
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Paying For School: An Overview of Charter School Finance
Jonathan Kivell, Community Development Officer, United Bank
This paper examines the current state of the market for charter school finance and will focus specifically on programs and financing structures for school facilities.
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Going “De Novo:” Tapping into Emerging Markets at the Branch Level
Vivian Pacheco, Federal Reserve Bank of San Francisco
The financial services landscape of low-income communities is often dominated by “fringe” financial services, including check cashers, payday lenders and pawn shops. However, mainstream financial institutions are increasingly learning that there are “emerging markets” in low-income neighborhoods, and that opening a bank branch in an underserved area can translate into profitable business, not just Community Reinvestment Act (CRA) credit.
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The Portfolios and Wealth of Low-Income Homeowners and Renters: Findings from an Evaluation of Self-Help Ventures Fund’s Community Advantage Program
Michael A. Stegman, Allison Freeman, and Jong-Gyu Paik, Center for Community Capitalism, University of North Carolina at Chapel Hill
The distribution of wealth in the United States is more highly skewed than the distribution of income. Nowhere is this clearer than in the case of homeowners and renters.
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Creating a Marketplace: Information Exchange and the Secondary Market for Community Development Loans
Laura Choi, Federal Reserve Bank of San Francisco
There is a lack of information exchange between community development lenders and capital investors that limits the growth of a secondary market for community development assets. This obstacle limits the ability of community development lenders to tap into the virtually endless capital resources of the secondary market, thereby limiting the valuable services these organizations provide to underserved communities.