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2024 Update: Local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

The data shows that affordable housing developers continue to struggle with closing financial gaps in their projects (Table 1). The median development cost per unit remained steady at $250,000, more than 50% higher than in 2020. In response, developers increasingly relied on local governments to fill the financial shortfall.

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What’s a Capital Stack and How Does it Work?

CRA Today

At some point in your journey as a Community Reinvestment Act (CRA) officer, you will likely find yourself involved in a community-based public-private partnership economic development project. Pursuing these opportunities will help you grow your CRA program and expand your bank’s community reach.

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Finish Strong, as published in ABA Bank Compliance

CRA Today

Maximize the Reporting of Community Development Activities; 2. Maximize the Reporting of Community Development Activities. Oftentimes, large (for CRA purposes) banks overlook transactions, such as loans and investments, that could qualify for consideration as community development activities.

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New Report on Ten Years of Land Banking in New York Offers Compelling Metrics of Success, Useful Lessons, and a Lot of Inspiration

Center for Community Progress

By Tarik Abdelazim , Director, National Technical Assistance, Center for Community Progress Before I came to Community Progress, I spent eight years in public service in my hometown, Binghamton, New York. Supporting Workforce Development Goals. Is your community struggling with vacant, abandoned, and deteriorated properties?

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Leaders in Land Banking: A Conversation with Adam Zaranko at the Albany County Land Bank

Center for Community Progress

We’ve developed three initiatives designed to leverage partnerships and transform vacant properties into opportunities for affordable housing. Our Inclusive Neighborhoods program is designed to increase our local community land trust’s access to real estate—especially in stronger markets—to create more permanent affordable housing.

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A Message from President and CEO Akilah Watkins

Center for Community Progress

The loyalty my colleagues demonstrate to serving disinvested communities, to helping one another, and to bettering the organization makes it hard to say goodbye, but also helps me feel secure in Community Progress’ future. This continuity is so important because of the very nature of our work.

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The CRA Tips

CRA Today

Are you looking to take your community development services to the next level? Episode 44: Economic Development as a Key to Community Development Services. Episode 42: I Bet You Are Underreporting Your Community Development Loans… Most Banks Are Too! Episode 38: Haven’t Developed a CRA Plan Yet?