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Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
A government corporation owned by the United States Department of the Treasury, it was established through the Riegle Community Development and Regulatory Improvement Act of 1994. [1] Financial institutions, which may include banks , credit unions , loan funds, and community development venture capital funds, can apply to the CDFI Fund for ...
The CDFI Fund and the legal concept of CDFIs were established by the Riegle Community Development and Regulatory Improvement Act of 1994. Broadly speaking, a CDFI is defined as a financial institution that: has a primary mission of community development , serves a target market, is a financing entity, provides development services, remains ...
This grant was awarded from the Unrestricted Fund of the Community Foundation, Economic Development Fund, Mutual Legacy Fund, and Shafer/Muncie Power Products Legacy Fund.
Rhode Island's first-ever community investment fund is designed for situations like these. There's nothing else like it in the country, according to Jessica David, one of the founders.
The proposed overhaul of the economic development fund favored by Gov. Gretchen Whitmer would divert hundreds of millions to community investments.
A community development bank (CDB) or Community Development Financial Institution (CDFI) is a development bank or credit union that focus on serving people who have been locked out of the traditional financial systems such as the unbanked or underbanked in deprived local communities.
The Office of Community Services (OCS) is a division of the US Executive Branch under the Administration for Children and Families within the Department of Health and Human Services. [ 1 ] : 79 It is the direct successor of the Office of Economic Opportunity , an independent agency created in 1964.