March 1, 2017. Federal Reserve Bank of Saint Louis
Innovate Memphis staff members, Nidia Logan Robinson, Ian Nunley, and Rachel Knox contributed to a report on Federal Reserve Bank of St. Louis outlining the case for CRA – Community Reinvestment Act.
Additionally, the Innovate Memphis team conducted a scan of peer cities, seeking to understand the strength of their local urban development portfolio and prevalent CRA investment and lending tools, and to better understand what factors have led to improved local community development infrastructure.
The recommendations focus on strategies and tactics for cultivating a more progressive and collaborative community development pipeline in Memphis. The city should invest in infrastructure that fosters cooperation among financial institutions, adds capacity and training to bring new tools to the market, develops the skills to use the tools with precision, and increases the lending viability of borrowers.
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