Artists can have a profound impact on communities. The latest report from LISC’s Creative Placemaking team dives into the effect artists can have as leaders in their community. The report examines the nurturing of artists to be leaders, the challenges and opportunities they face, and profiles the work of many artists across the country.
A new report from LISC’s Creative Placemaking team looks at how our investments in artists, art-related businesses and cultural organizations have fueled economic development in surrounding communities. An investigation into six programs, in places ranging from rural Louisiana to New Haven, Connecticut, reveal that arts and culture can form a critical strand in a comprehensive economic strategy and strengthen the social fabric and dynamism of a community at the same time.
The Community Reinvestment Act (CRA) was enacted in 1977 to prevent redlining and encourage banks and savings institutions to meet the credit needs of all segments of their communities, including low- and moderate-income neighborhoods. Many larger banks fulfill their obligation by investing in organizations like LISC to reinvest and provide capital to projects in these neighborhoods. Here is a primer on what CRA is and how banks are evaluated by it.
LISC has outlined a comprehensive set of policy proposals spanning 11 different federal agencies—all focused on helping families build a strong future, while supporting robust economic growth. This is work that cannot wait. It is critical to our national economy, as well as to the outlook for tens of millions of American families.
Policymakers and researchers generally agree that the most effective approaches to neighborhood stabilization are those keyed to market conditions. But despite this agreement, there are few tools available to do this kind of market diagnosis. To help remedy this deficit, LISC researchers have constructed a prototype index of market strength. This index holds considerable promise as a single and transparent market indicator that draws on Home Mortgage Disclosure Act (HMDA) data, which are readily-obtainable and available at the neighborhood level. The index is comprised of separate indicators of mortgage transaction velocity for owner-occupants and investors, the percent of purchases by owners, the percentage of high cost loans, and median value of all neighborhoods‟ mortgages relative to those in all low-income neighborhoods area-wide.