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Transforming Communities: Driving and Assessing Investment

The New York Fed, with the Local Initiatives Support Corporation, hosted a conference on December 12 on the role of community development finance in transforming under-resourced communities.

What We Learned

Transforming Communities: Driving and Assessing Investment, a collaboration between the Federal Reserve Bank of New York and Local Initiatives Support Corporation (LISC), gathered senior leaders from across the nonprofit, public, and private sectors in the Federal Reserve’s Second District to discuss the crucial role of community development finance in driving the transformation of under-resourced communities.

The conference first took an introspective look at existing investment vehicles and the assessment of their impact, and then tackled ways by which the field’s current successes can be replicated. Speakers also addressed the future of community development finance and how the ecosystem will evolve to achieve the ultimate goal of community transformation.

Date and Time

Tuesday, December 12
9:00 a.m. - 3:00 p.m.

Location

Benjamin Strong Room
Federal Reserve Bank of New York
33 Liberty Street, New York, NY

Audience

By invitation only.

Agenda

8:30am	Registration
9:00am	Welcome Remarks Eric Belsky, Director of the Division of Consumer and Community Affairs, Federal Reserve Board of Governors Denise Scott, Executive Vice President for Programs, LISC
9:30am	Keynote Address Maria Torres-Springer, Commissioner, New York City Department of Housing Preservation and Development
9:50am	Session 1: How are current investment vehicles working to drive capital to communities in need? Colvin Grannum, President, Bedford Stuyvesant Restoration Corporation Maureen Hassett, Senior Vice President of Governance, Communications and Strategic Initiatives, New Jersey Economic Development Authority Jim King, Chief Executive Officer and President, Fahe Marc Jahr, Senior Advisor, Forsyth Street - Moderator
10:50am	Break
11:05am	Session 2: Where have we been and where do we need to go to measure the effect of community development finance on the lives of low- and moderate-income people? Antony Bugg-Levine, Chief Executive Officer, Nonprofit Finance Fund Joseph Carbone, President and Chief Executive Officer, The WorkPlace Amy Gillman, Senior Program Officer, Robert Wood Johnson Foundation Ingrid Gould Ellen, Director, Furman Center for Real Estate and Urban Policy, New York University Shena Ashley, Director, Center on Nonprofits and Philanthropy, Urban Institute - Moderator
12:05pm	Lunch and Fireside Chat: How can we replicate the affordable housing model to support other sectors and other regions where there are fewer resources? Benjamin Dulchin, Executive Director, Association for Neighborhood and Housing Development James Patchett, President, New York City Economic Development Corporation
1:10pm	Session 3: What is the future of community development finance and how will the ecosystem evolve? Navjeet Bal, Vice President and General Counsel, Social Finance Catherine Godschalk, Vice President, Investments, Calvert Impact Capital Fran Seegull, Executive Director, US Impact Investing Alliance Maurice Jones, President and Chief Executive Officer, LISC – Moderator
2:10pm	Closing Remarks Adrian Franco, Director of Community Development Finance, Federal Reserve Bank of New York
2:15pm	Coffee & Desserts

event details

Resources

Community Reinvestment Act (CRA)

Regional Data

Additional Resources from our Speakers

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For inquiries regarding the conference, please contact knowledge@lisc.org

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