Federal Reserve Bank
of San Francisco Federal Reserve Bank
of San Francisco

Community Development Research Briefs

Research Briefs feature data and commentary on community development trends and issues.

  • Paycheck Protection Program Lending in the Twelfth Federal Reserve District

    Rocio Sanchez-Moyano

    As part of the CARES Act, Congress created the Paycheck Protection Program (PPP) to provide conditionally forgivable loans to small businesses. Though PPP loans provided an important resource to keep many small businesses afloat, the program was easier for some businesses to access than others. This Research Brief offers an analysis of PPP lending in…

  • COVID-19 Impacts on Housing Stability in the Twelfth Federal Reserve District

    Eileen Hodge and Elizabeth Mattiuzzi, Federal Reserve Bank of San Francisco

    In the face of layoffs and furloughs due to the COVID-19 pandemic, many renters and homeowners across the country have struggled to make their mortgage or rent payments. This brief provides a snapshot of the issues facing low- and moderate-income renters, homeowners, and small, “mom and pop” landlords in the Twelfth Federal Reserve District based…

  • Child Care, COVID-19, and our Economic Future

    Bina Patel Shrimali, Federal Reserve Bank of San Francisco

    Child care is important for cultivating the future workforce, and it also ensures that working parents of today can participate in the economy, helping to achieve the Federal Reserve’s mandate for full employment. While child care in the U.S. is a piece of critical infrastructure, it is often invisible and undervalued. Straddling the lines between…

  • Holding Space: Underlying Real Estate Conditions for Nonprofits in the Los Angeles Region

    Eileen Hodge, Jiwon Kim, & Elizabeth Mattiuzzi

    Over the past decade, rising real estate costs have led to displacement of low-income residents and small businesses from Los Angeles’ changing neighborhoods. The Federal Reserve Bank of San Francisco conducted a survey of nonprofits in the Los Angeles metropolitan area to explore how they are faring in the face of displacement pressures. This report…

  • Impacts of COVID-19 on Nonprofits in the Western United States

    Laura Choi, Elizabeth Mattiuzzi, and Bina Shrimali, Federal Reserve Bank of San Francisco

    Nonprofit organizations play an important role in the response to COVID-19, but the crisis is straining their ability to serve communities. This report summarizes data from a Federal Reserve survey to assess the impact of the pandemic on nonprofit respondents and the communities they serve in the Western United States. Article Citation Choi, Laura, Elizabeth…

  • What are Banks Doing to Address the Impacts of COVID-19 on LMI Communities? Early Approaches to Addressing the Crisis

    Bina Shrimali

    Banks play a key role in helping to alleviate the economic impacts of COVID-19 and have been encouraged to leverage Community Reinvestment Act (CRA) activities in their response. This research brief presents findings from interviews with community development officers across CRA-motivated financial institutions in the Twelfth Federal Reserve District and summarizes their early response actions.…

  • On the Sidelines of the Hot Economy

    Bina Shrimali, Federal Reserve Bank of San Francisco

    While the current economy is often characterized as “hot,” marked by low unemployment, stable prices, and sustained economic growth, many residents are not enjoying the prosperity reflected in the aggregate measures of economic well-being. This report focuses on those who have not reaped the benefits of recent sustained growth in the economy. The report highlights…

  • At What Cost? Student Loan Debt in the Bay Area

    Bina Shrimali, Federal Reserve Bank of San Francisco; Jacob DuMez, San Francisco Treasurer’s Office of Financial Empowerment; Sarika Abbi, San Francisco Treasurer’s Office of Financial Empowerment

    For most Americans, an investment in higher education is a key driver of economic security and mobility. However, rapidly rising costs of attendance, combined with stagnant wages and inadequate support systems for vulnerable borrowers have resulted in outcomes that are at odds with our collective vision of higher education as a crucial foundation for achieving…

  • Funds for Kickstarting Affordable Housing Preservation and Production: Lessons for New Investors

    Elizabeth Mattiuzzi, Federal Reserve Bank of San Francisco

    A shortage of affordable homes for workers and families at all income levels across the country calls for innovative solutions. Over the past decade, a variety of public-private loan funds have developed to kick-start construction and preservation of affordable housing. This report breaks down how these funds fit into the process of developing and preserving…

  • What Matters: Investing in Results to Build Strong, Vibrant Communities

    Federal Reserve Bank of San Francisco and Nonprofit Finance Fund

    The book features a collection of essays by 80 authors with wide expertise on the social, cultural, and financial implications of orienting programs and funding around outcomes. Together, the authors imagine the creation of a trillion-dollar marketplace for results, where governments, social service providers and partners better understand the full, true costs of achieving social…