Community Development Investment Review

Community Development Investment Review

Published by the Center for Community Development Investments, the Review bridges the gap between theory and practice, from as many viewpoints as possible: government, nonprofits, financial institutions, and beneficiaries.

2014

The Green Issue - Volume 10, Issue 1

Posted March 24, 2014

This issue of the Community Development Investment Review highlights a number of deliberate, innovative interdisciplinary efforts that seek to concurrently and holistically address community development and environmental issues. Many of them focus on cities and their surroundings. They are diverse in the combination of issues they touch and address including air quality, climate change, water access on the environmental side, and education, health, and affordable housing on the community development side, and they are diverse in their range of approaches and partnerships.

Innovations in Neighborhood Stabilization: Responses to the Foreclosure Crisis - Volume 9, Issue 2

Posted February 10, 2014

In this issue of the Community Development Investment Review, we have brought together a series of articles that highlights some of the stabilization strategies emerging from the efforts of committed nonprofits across the country. The articles in the first section of this issue reflect the lessons learned from the Housing Partnership Network’s 2011-2013 Innovations in Neighborhood Stabilization and Foreclosure Prevention Initiative, funded by the Citi Foundation. The goal of the Innovations Initiative was not only to support emerging strategies for neighborhood stabilization, but also to share experiences across nonprofits and create a body of knowledge of successful strategies for the community development field. In the second section of this issue, we bring you a series of essays written by influential nonprofit and public sector leaders that enriches the conversation about neighborhood stabilization, providing new and provocative perspectives on this work.

2013

Pay for Success Financing - Volume 9, Issue 1

Posted April 18, 2013

This issue of the Community Development Investment Review focused on Pay for Success financing, attempts to do two things. The first is to serve as a comprehensive resource for the most current thinking on the origins, models, and potential implications of Pay for Success. The second is to encourage readers to weigh its exciting potential against its possible pitfalls. Pay for Success is a tantalizing idea but it raises important questions. Are we privatizing important government services that should remain under public control? How can we accurately measure and enforce “success”? Can we guard against fraud? Can we effectively balance our often-conflicting goals of equity, efficiency, and efficacy? Understanding and answering these, and other, questions is a crucial first step before widespread adoption of Pay for Success tools.

2011

Advancing Social Impact Investments through Measurement - Volume 7, Issue 2

Posted December 1, 2011

This issue of the Review includes the proceedings of the “Advancing Social Impact Investments through Measurement” conference held at the Federal Reserve Board of Governors on March 21, 2011. The conference was an attempt to bring both the community development finance and the impact investing communities together to share recent developments in innovation in social metrics and to think more deeply about how the government could play a role in promoting more and better measurement of social and environmental outcomes. In addition to the proceedings, this issue includes a series of thoughtful essays written by conference attendees in response to what they heard at the convening.

International Community Development - Volume 7, Issue 1

Posted March 1, 2011

Low-income people in the U.S. and abroad face similar challenges: access to credit, housing, jobs, and critical services including health and education. And yet today, those who work on international economic development and community development hardly know each other. This issue of the Review 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.

2010

Building Scale in Community Impact Investing through Nonfinancial Performance Measurement - Volume 6, Issue 1

Posted December 1, 2010

In the community development finance and impact investing worlds, there is both universal agreement for the need for better social outcome measurements and no consensus on how to do it. This issue of the Review is an attempt to gather in one place what we know, what we think the state of the art is, and 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.

2009

Health and Community Development - Volume 5, Issue 3

Posted December 1, 2009

In this issue of the Review, we explore 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.

Social Enterprise and Impact Investing - Volume 5, Issue 2

Posted August 1, 2009

In this issue of the Review, we explore how both business enterprises and investment decisions can be infused with community goals—providing for those who are less capable of providing for themselves, promoting better health and stronger community fabric, and respecting the environment.

Real Estate Owned - Volume 5, Issue 1

Posted April 2, 2009

The collapse of the housing market has devastated neighborhoods and balance sheets alike. Millions of homeowners have defaulted on their mortgages and holders of mortgage-backed securities (MBS) have suffered massive write-downs. Banks and servicers have been increasingly called upon to renegotiate payment terms and reduce mortgage principle to slow the tide of foreclosures and stabilize the housing market. Despite such attempts to “work out” troubled mortgages, however, the foreclosure rate continues to rise at a steady pace.

Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act - Volume 4, Issue 1

Posted February 1, 2009

The Community Reinvestment Act (CRA), enacted in 1977, has fostered access to financial services for low- and moderate-income communities across the country. Together with other antidiscrimination, consumer protection, and disclosure laws, the CRA remains today a key element of the regulatory framework, encouraging the provision of mortgage, small business, and other credit, investments, and financial services in low- and moderate-income neighborhoods.

2007

Data and Technology - Volume 3, Issue 2

Posted December 13, 2007

This issue of the Community Development Investment Review explores how better data and technology can direct more capital to low-income areas. Better data on community development investments can turn uncertainty into quantifiable risk. In other words, better data transforms community development investments from being considered exotic, one-offs, public relations or philanthropy deals into regular assets with known risk parameters.

Low Income Communities as Emerging Domestic Markets - Volume 3, Issue 1

Posted June 14, 2007

Taken together, the articles in this issue of the Review provide a contemporary look at this discussion of undervalued markets.

2006

Rural Community Development Venture Capital - Volume 2, Issue 3

Posted December 14, 2006

This issue of the Review wrestles with how rural entrepreneurs can find the financing they need to release the energy of their local communities.

Secondary Markets Conference Proceedings - Volume 2, Issue 2

Posted November 17, 2006

The Federal Reserve Bank of San Francisco and the Board of Governors of the Federal Reserve System held a special, invitation-only conference in Washington, DC on September 6 and 7, 2006, on the secondary market for community development loans.

Secondary Markets for Community Development Loans - Volume 2, Issue 1

Posted June 24, 2006

The mission of the Center for Community Development Investments is to enhance access to capital in low-income communities.

2005

New Markets Tax Credit - Volume 1, Issue 1

Posted December 1, 2005

This issue will focus on the New Markets Tax Credit program, which was enacted in 2000 to increase the flow of capital to communities that had been left out of the tremendous economic growth of the nation’s longest economic expansion.