Community Investments Newsletter
to Current Index
Volume 14; No. 1; March, 2002
Investments, March 2002 (PDF -1.7MB)
Special Edition: A Guide to Community Development Investments
(PDF - 1.15MB)
Notebook (PDF - 46KB)
Income Housing Tax Credits (PDF - 80KB)
Over the past decade, the federal Low-income Housing Tax Credit (LIHTC)
has emerged as an innovative and creditible financial instrument.
Catherine H. Such, Columbia Housing
Development Real Estate Investment Trusts (PDF - 71KB)
The Community Development Trust (CDT) is the only REIT created solely
for the purpose of acquiring assets that benefit community development.
Judd S. Levy, Community Development Trust
Equivalent Investments (PDF - 72KB)
The equity equivalent investment product (EQ2) provides a new source
and type of capital for community development financial institutions.
Beth Lipson, National Community Capital
Business Investment Companies (PDF - 62KB)
SBICs enjoy a special status within the CRA because they are recognized
as specifically CRA-eligible. They also enjoy a favored position in
the emerging Gramm-Leach-Bliley regulatory framework relative to other
permissible merchant banking activities.
Lawrence Mondschein, CRA Funding, LLC
Development Municipal Bonds (PDF - 65KB)
While financial institutions are experienced with the lending and
service aspects of the performance tests, some banks are still grappling
with what constitutes a qualified investment.
Barbara Rose VanScoy, CRAFund Advisors
Backed Securities and Collateralized Mortgage Obligations (PDF
The MBS market is enormous, with the volume of outstanding MBSs exceeding
$3.8 trillion. CRA officers should should understand the benefits
of MBSs to enable them to work with bank investment officers.
Andrew Kelman, Freddie Mac
Development Venture Capital (PDF - 83KB)
Community Development Venture Capital funds use the tools of venture
capital to create jobs, wealth and entrepreneurial capacity to benefit
low-income people and distressed communities.
Kerwin Tesdell, Community Development Venture Capital Alliance
Resource (PDF - 55KB)
Questions and answers for qualified investments.
Design and Layout
Cynthia B. Blake
If you have an interesting community
development program or idea, we would like to consider publishing
an article by or about you. Please contact:
Federal Reserve Bank of San Francisco
101 Market Street, Mail Stop 620
San Francisco, CA 94105
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The views expressed are not necessarily those
of the Federal Reserve Bank of San Francisco or the Federal Reserve System.
Material herein may be reprinted or abstracted provided Community Investments
is credited. Please provide our Community Affairs Department with a copy
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