Community Development Investment Review

Volume 7, Issue 2: Advancing Social Impact Investments through Measurement 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.

Previous Issues

2011 Issues

• Volume 7, Issue 1: International Community Development
  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 Issues

• Volume 6, Issue 1: Building Scale in Community Impact Investing through Nonfinancial Performance Measurement
  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 Issues

• Volume 5, Issue 3: Health and Community Development
  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.
• Volume 5, Issue 2: Social Enterprise and Impact Investing
  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.
• Volume 5, Issue 1: Real Estate Owned
  Confronting the "Second Wave of the Tsunami":
  Stabilizing Communities in the Wake of Foreclosures | The Accumulation of Foreclosed Properties: Trajectories of Metropolitan REO Inventories during the 2007–2008 Mortgage Crisis | Learning From the Past: The Asset Disposition Experiences of the Home Owners’ Loan Corporation, the Resolution Trust Corporation, and the Asset Control Area Program | Community Development Financial Expertise Put in Service of Neighborhood Stabilization | Massachusetts’ Efforts to Address Foreclosed Properties | Community Land Trusts Work In the Best and Worst of Times | Using New Markets Tax Credits to Mitigate the Impact of Foreclosures on Communities

2008 Issue

• Special Issue: Revisiting the CRA: Perspectives on the Future of the Community Reinvestment Act
  A Framework for Revisiting the CRA | The CRA and the Recent Mortgage Crisis | The 30th Anniversary of the Community Reinvestment Act: Restructuring the CRA to Address the Mortgage Finance Revolution | The CRA Within a Changing Financial Landscape |The CRA: Outstanding, and Needs to Improve | It’s the Rating, Stupid: A Banker’s Perspective on the CRA | The Community Reinvestment Act at 30 Years | A Tradeable Obligation Approach to the CRA | The CRA: Past Successes and Future Opportunities | A More Modern CRA for Consumers | CRA Lending During the Subprime Meltdown| Expanding the CRA to All Financial Institutions | What Lessons Does the CRA Offer the Insurance Industry? | CRA 2.0: Communities 2.0 | The CRA: 30 Years of Wealth Building and What We Must Do to Finish the Job | The CRA as a Means to Provide Public Goods | Putting Race Explicitly into the CRAn | Community Reinvestment Emerging from the Housing Crisis | A Principle-Based Redesign of HMDA and CRA Data | The CRA: Good Goals, Flawed Concept | A Banker’s Quick Reference Guide to CRA

2007 Issues

• Vol 3; Issue 2: Data and Technology
  By the Numbers: Data and Measurement in Community Economic Development | Can Capital Markets Replace Banks for Funding Community Development? | Hunting for Data Sources: How Improving Data Can Increase Capital for Emerging Domestic Markets | Standard & Poor’s Small Business Portfolio Model Introduces a Potential New Tool for Community Development Loan Risk Analysis |Cows, Kiva, and Prosper.Com: How Disintermediation and the Internet are Changing Microfinance | First Mover: The CDFI Fund’s CIIS Database Holds Promise to Create Substantial Data Repository for Community Development Investments | Creating a Marketplace: Information Exchange and the Secondary Market for Community Development Loans | Count What Counts: Improving Charitable Investor Access to the Community Development Sector with Better Data and Better Analytical Models
  
  
• Vol 3; Issue 1: Low Income Communities as Emerging Domestic Markets
  A History of Emerging Domestic Markets | Who’s Counting? Measuring Social Outcomes from Targeted Private Equity | Panning for Gold in Inner City Markets | Investment Intermediaries in Economic Development: Linking Public Pension Funds to Urban Revitalization | The Brookings Urban Markets Initiative: Using Information to Drive Change

2006 Issues

• Vol 2; Issue 3: Rural Community Development Venture Capital
  In this issue:
  Innovative Activity in Rural Areas: The Importance of Local and Regional Characteristics | Financing Rural Innovation with Community Development Venture Capital: Models, Options, and Obstacles | A Vision for the Future of Rural Developmental Venture Capital | State Governments Start Investing Capital for Entrepreneurs to Grow the Local Economy and Keep Jobs | Organizing Angel Investment to Benefit Angels, Companies, and Communities
• Vol 2; Issue 2: Secondary Markets Conference Proceedings
  In this issue:
  Conference Keynote Address | Proceedings / Themes from the Conference | Turning Uncertainty into Risk: Why Data Are the Key to Greater Investment | Growing Pains | Bridging the Information Gap between Capital Markets Investors and CDFIs | Strategies for Selling Smaller Pools of Loans | Check Your Guns at the Door: How to Get Together to Establish a Market
• Vol 2; Issue 1: Secondary Markets for Community Development Loans
  In this issue:
  Securitization and Community Lending: A Framework and Some Lessons from the Experience in the U.S. Mortgage Market | The Struggle to Establish a Vibrant Secondary Market for Community Development Loans | Manufactured Housing Finance and the Secondary Market | Selling Affordable Housing Loans in the Secondary Market | The Community Development Trust Taps Wall Street Investors | Financing Hope | Taking Capital for Social Purposes to a New Level | Leverage: Securitizing Community Development Construction Loans
  Letter to the Editor (PDF - 11KB)

2005 Issues

• Vol 1; Issue 1: New Markets Tax Credit
  In this issue:
  The New Markets Tax Credit Program: A Midcourse Assessment | Community Perspective: Is the NMTC Program Making a Difference in Low-Income Communities? | The Political History of and Prospects for Reauthorizing New Markets | Investor Perspective: How to Invest in NMTCs | Case Study from Application to Construction: Clearinghouse CDFI Puts New Markets Tax Credits to Work | Trends and Observations from the CDFI Fund Director | How One CDC is Changing Neighborhoods with NMTC | Making Markets Work | NMTC Program Overview and Glossary

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