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Author Greer, James L.,
Title Community economic development in the United States : the CDFI industry and America's distressed communities / James L. Greer, Oscar Gonzales.
Imprint New York : Palgrave Macmillan, [2017]

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Author Greer, James L.,
Subject Community Development Financial Institutions Fund (U.S.)
Community development -- United States -- Finance.
Federal aid to community development -- United States.
Poor -- United States.
Alt Name Gonzales, Oscar R.,
Description 1 online resource (xix, 213 pages) : illustrations
polychrome rdacc
Summary This is the first scholarly analysis that examines the development and achievements of the American community development movement. Community development is now a multi-billion industry in the US. Hundreds of Community Development Financial Institutions (CDFIs), located in all regions of the country, have successfully forged locally-based strategies that provide affordable housing, foster business development, and provide much needed community facilities, including innumerable charter schools, in highly distressed communities in inner city neighborhoods, rural communities, and also in American Indian areas. In many areas of the US, CDFIs represent a viable alternative to the mainstream banking industry. This volume documents the positive impact the CDFI industry has had in distressed urban and rural areas in the US.
Bibliography Note Includes bibliographical references and index.
Contents 1. Market Failure and the Possibilities of Community Economic Development -- Externalities -- Federal Housing and Financial Regulation Policy -- Obsolescence -- Market Failure as an Inability to Gauge Risk -- Market Failure in Financing -- The Possibilities for Community Economic Development -- Supply and Demand for Capital and Investment in Low-Income Areas -- CDFIs and CDEs as Solutions to Market Failures in Low-Income and Distressed Communities-- 2. (Re)Discovering Poverty and Economic Underdevelopment: Michael Harrington's The Other America: Poverty in the United States -- Foundations of the Community Development Movement -- The Development of the Community Development Corporation -- The Great Society's War on Poverty -- Political and Administrative Reaction: The Lessons of the War on Poverty -- The New War on Poverty as Tax Policy -- The Fair Housing Act and Its Consequences for Strategies for Poverty Alleviation -- The Community Development Movement -- 3. The CDFI Industry: Its Origins and Development -- A Framework of the Contemporary CDFI Movement -- A Brief History of the CDFI Movement -- The Contributions of Visionary Chuck Matthei to the CDFI Movement -- The Clinton Initiative -- 4. Tax Expenditures and Social Policy -- The Two Alternatives of American Social and Development Policy -- Community Development, a Second Assault on Poverty and the Ubiquity of Tax Credits -- Creation and Expansion of the Low-Income Housing Tax Credit -- Creation of the NMTC Program -- Allocation of the System of Tax Credits in the American Political Economy -- 5. Community Development Investment in the USA -- The Geography of Economic Distress in America -- Targeting of CDFI and NMTC Activities -- An Assessment of Community Development Lending -- Data Sources -- Findings: CDFI and NMTC Loans and Investments Compared with Mainstream Financial Lending -- Investment Trends in post-2008 American Economic History -- The CDFI and NMTC Industries as Agents of Financial Inclusion -- 6. The Unequal Economy and the Community Development Movement -- The Challenges of the American Economy -- The Ongoing Demand for Community Development Resources -- The Changing Nature of Poverty in the Twenty-First Century -- Changing Structure of the American Population -- The Need for Development Resources -- The Future of the American Community Development Movement.
Note Print version record.
ISBN 9781349698103 (electronic bk.)
1349698105 (electronic bk.)
9781137497901 (hardcover)
1137497904 (hardcover)
ISBN/ISSN 10.1057/978-1-349-69810-3
OCLC # 961931544
Additional Format Print version: Greer, James L. Community economic development in the United States. New York : Palgrave Macmillan, [2017] 1137497904 (DLC) 2016953776 (OCoLC)968904808

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