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Community Investments
Volume 11; No. 1; Winter/Spring
1999
Notices
- District
- Bulletin
- Events Calendar
National Community Development
March-May 1999
Qualified Investments 1999 Seminar Series
Plans are underway for a series of one-day training seminars
that will provide technical information on a number of qualified
investment vehicles. Participants will hear from senior-level
regulators, and will learn about specific investment opportunities
in their market. CRA officers: Please invite your CFO and finance
staff. Safety and soundness issues will be covered too. The seminars
will be sponsored by the Community Affairs Unit of the Federal
Reserve Bank of San Francisco. They are tentatively scheduled
for September-October 1999, in locations throughout the 12th District.
Detailed information will be available early this summer.
Free Tutorial for Small Business Technical
Assistance Providers
H. “Mo” Morris, MBA, CPA, a renowned trainer in the small business
finance field, has developed a brief tutorial entitled “The Importance
of the Cash Flow Statement.” This tutorial explains why the cash
flow statement is of more importance to the small business owner
than the traditional balance sheet and income statements. It will
assist the novice, intermediate and experienced small business
technical assistance provider in offering a more valuable service
to small business owners managing day-to-day operations. Moreover,
the tutorial includes easy-to-understand descriptions of key finance
terms and examples of well-structured cash flow statements. Mr.
Morris has over thirty years of professional experience as a partner
in a CPA/Consulting firm. Since 1984, Mr. Morris has trained thousands
of small business owners and managers in financial management
techniques and strategies under contracts with the U.S. Small
Business Administration and Fortune 500 corporations. To receive
a complimentary copy of this tutorial, please e-mail
or fax your request to Ariel Andres at (415) 393-1920.
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PG&E Expands Affordable Housing Program
Pacific Gas & Electric (PG&E) has launched an expanded $50 million,
five-year program to invest in affordable housing in Northern
and Central California. The program invests shareholder funds
in new construction and rehabilitation of multi-family affordable
housing. Two major projects funded by this program are currently
underway. Ground was broken recently on 34 townhouse-style units
of affordable housing in South San Francisco, developed in partnership
with the Mid-Peninsula Housing Coalition. Last October, PG&E announced
a partnership with the Solano Affordable Housing Foundation to
renovate 388 affordable housing units in Vallejo, California.
PG&E has been investing in affordable housing projects since 1990,
with more than $22 million committed to nine projects from Chico
to Bakersfield. The corporation’s investments are tax-deductible.
(From PG&E Spotlight, December 1998) For more information, consult
PG&E’s web site at www.pge.com/affordable
or contact Ila Homsher, corporate contributions project manager,
77 Beale Street, Room 3212 A, San Francisco, CA 94177 (415) 973-3288.
Attention: Community Development Lenders!
Mark your calendar for the annual National Community Development
Lending School, July 18-22, 1999 at the University of California,
Berkeley’s Clark Kerr Campus. The program offers five days of
intensive training on how to make community development lending
a profitable, dynamic venture for your institution. The brochure
and application will be available on our web site (www.frbsf.org)
in early April. If you need it sooner, e-mail your name, organization,
and mailing address to NCDLS 99.
Or, fax your contact information to: “NCDLS 99 Mailing List” at
(415) 393-1920. For NCDLS program and registration information,
please contact Cynthia Burnett Howard at (415) 974-2968 or download
the PDF
brochure.
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“Hot Links” To Government Internet Sites
At the Federal Reserve Bank of San Francisco’s Community Affairs
web site, www.frbsf.org, you
can now link to these useful web sites:
- U.S. Department of Housing & Urban Development, www.hud.gov
This site contains demographic information for CRA performance
contexts. Click on the “Communities” section and pull up “Local
Plans.” You will find summaries of consolidated plans that contain
community information for virtually every area in the United States.
- U.S. House of Representatives Committee on Banking & Financial
Services, www.house.gov/banking
- & U.S. Senate Banking Committee www.senate.gov/~banking
These sites contain information about key legislation, Banking
Committee priorities, and comments from Congressional Representatives.
And, an upcoming link to our web site . . .
- National Archives & Records Administration: Code of Federal
Regulations, www.access.gpo.gov/nara/cfr/cfr-table-search.html#page1
All of the banking regulations are in electronic format at this
easy-to-use location. Keep this bookmarked for those occasions
when you need a regulatory definition or citation on subjects
ranging from risk-weighted capital ratios to public-welfare investment
authority.
New Loan Syndication Program
If you’re interested in expanding your lending business in the
Los Angeles area, consider Community Financial Resource Center’s
new loan syndication program. The program will use a pooled funding
approach, and will offer loans to existing small business owners
for expansion capital and management training.
For more information, contact Forescee Hogan-Rowles, executive
director, at 4060 South Figueroa Street, Los Angeles, California
90037, (323) 233-1900.
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EFT Public Education Resources in Spanish & English
The Department of Treasury’s Electronic Funds Transfer (EFT) Initiative
required Direct Deposit for most Federal payments by January 2,
1999. To assist in customer outreach and implementation, Treasury
has recently released Spanish versions of EFT materials.
There are two products now available in English and Spanish. One
is a consumer brochure entitled “New Choices for Receiving Your
Federal Government Payments.” The other is a guidebook for community
educators called “Helping People in Your Community Understand
Basic Financial Services.” The guidebook is intended for use
by community educators with a variety of audiences who currently
do not have bank accounts, or who need basic information about how
to use accounts. The following camera-ready fact sheets are also
available:
- Automated Teller Machines
- Choosing a Deposit Account
- Choosing a Financial Institution
- Debit Cards Ô Frequently Asked Questions
- Direct Deposit Saves Time
- Using Deposit Accounts
- Glossary
You can obtain the camera-ready fact sheets, the brochure and guide
from Treasury’s web site at www.fms.treas.gov/eft/educ/educmain.html.
You can also order them by writing to: Product Promotion Division,
Financial Management Service, 401 14th Street, SW, Washington D.C.
20227 or by faxing your order to (202) 874-7321.
CRC Gala Event on April 22, 1999
The California Reinvestment Committee is hosting its first annual
Celebrate Reinvestment Gala event on the evening of April
22 in Oakland, California. Come and enjoy this gathering of California
leaders in community reinvestment from the nonprofit, financial
institution and regulatory sectors. There will be awards for outstanding
individuals and organizations that have contributed to community
reinvestment in California. For more information, please call
Kalina Misi at (415) 864-3980.
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National Community Development
Events Calendar
March-May 1999
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Mar. 23, Chicago, IL Building New Markets on the Financial Frontier.
Sponsor: Small Business Administration
This program will be repeated: April 6, Kansas City, MO; April 12,
New York, NY;
May 6, Atlanta, GA; May 17, Dallas, TX; and June 2, San Francisco,
CA.
Contact: (877) 734-4782 or (800) 734-9496
Mar. 30-Apr. 1, Chicago, IL Shared Visions: The Native American
Homeownership and Economic Development Summit.
Sponsor: U.S. Department of Housing and Urban Development (HUD)
Contact: (303) 675-1600
Apr. 15-17, St. Paul, MN 1999 National Community Land Trust
Conference.
Sponsor: Institute for Community Economics
Contact: (413) 746-8660
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Apr. 18-20, Sacramento, CA Housing California - Annual Meeting.
Sponsor: Housing California
Contact: (415) 788-7961, ext. 8
April 27, Minneapolis, MN Back to the Future: Mixed-Use Development.
Sponsor: Federal Reserve Bank of Minneapolis
Contact: (612) 204-5075
May 2-5, Detroit MI Sustainable America National Town Meeting.
Sponsor: President’s Council on Sustainable Development/Global Environment
and Technology Foundation
Contact: (703) 750-6401
May 13-14, New York, NY Emerging Opportunities and Challenges
in Affordable Housing & Community Development.
Sponsor: National Association of Affordable Housing Lenders (NAAHL)
Contact: (202) 429-5150
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