Wednesday, April 8, 2015
8:30 am – 12:30 pm
Federal Reserve Bank of San Francisco, Los Angeles Branch
950 So. Grand Avenue
Los Angeles, CA90015
Melody Winter Head
Federal Reserve Bank of San Francisco
This spring Banker CRA Roundtable will explore public and private economic development investment strategies designed to revitalize low- and moderate-income communities in Los Angeles. Local experts will share their observations and current efforts to create sustainable neighborhoods in a time of great social and environmental change in the city. In addition we will highlight several new tools to assess community needs, leaving ample time for bankers to share with one another their views on managing nonprofit relationships for maximum impact.
Bank CRA officers in Los Angeles seeking opportunities to invest, lend and provide community services today are challenged by a number of troubling economic indicators. Median household income is not keeping up with price increases. The rate of unemployment remains high, many jobs lost in the recession will not return, and interest in microbusiness is growing. Moreover, the loss of homeownership and lack of affordability for first-time homebuyers outbid by cash buyers, the alarming rise in single family rentals and resulting increase in vacancy, and the continued prevalence of foreclosure continue to have long-term negative impact on low- to moderate-income communities.
Join us as we discuss these effects and others and please come prepared to share how your institution is contributing or can contribute toward meaningful solutions.