Online Program

Investing to Foster Transformative Community Revitalization

Tuesday, November 3, 2015 : 3:00 p.m. - 3:15 p.m.

Calvin Holmes, MA, Chicago Community Loan Fund, Chicago, IL

Community Development Financial Institutions (CDFIs) were created by the Riegle Community Development and Regulatory Act of 1994 sparked by a number of social activists who were deeply concerned about the persistent and pervasive lack of financing capital available in distressed neighborhoods. Over the years, studies document how critical CDFI lending remains. A study conducted by The Federal Reserve Bank of Boston in 1992 found that people of color were 60 percent more likely to be turned down by a bank when applying for a mortgage than identical white applicants. The Treasury Department estimated that in 1993 the unmet credit needs in low-income communities was in excess of $15 billion and a 2014 Woodstock Institute study of business lending in Chicago showed that two-thirds of all commercial loan dollars went to more affluent communities in the City.  CDFIs provide critical financing for individuals and organizations to build housing, commercial space, clinics, and other needed infrastructure to revitalize distressed low income neighborhoods. This presentation will describe CDFIs and how they contribute to the creation of healthy communities through case study examples.

Learning Areas:

Other professions or practice related to public health

Learning Objectives:
Differentiate CDFIs from traditional financial institutions and demonstrate how CDFIs fill the gaps in community development finance across a variety of people and place-based projects to improve the health of community residents.

Presenting author's disclosure statement:

Qualified on the content I am responsible for because: I am the President of the Chicago Community Loan Fund (CCLF), a nonprofit, certified Community Development Financial Institution (CDFI) that provides flexible, affordable and responsible financing and technical assistance for community stabilization and development efforts and initiatives that benefit low- to moderate-income neighborhoods, families and individuals throughout metropolitan Chicago. commercial/retail space as well as 2,500 jobs.
Any relevant financial relationships? No

I agree to comply with the American Public Health Association Conflict of Interest and Commercial Support Guidelines, and to disclose to the participants any off-label or experimental uses of a commercial product or service discussed in my presentation.