CDFIs Brief Congress on Innovative Community Investment Solutions
On May 12, community development leaders met on Capitol Hill in briefings of staff to Members of the U.S. Senate and House of Representatives on the critical role that community development financial institutions (CDFIs) play in connecting low income communities with the capital markets.
Bi-partisan co-sponsors, Congressman Jose Serrano and Congressman Robert Dold, supported a panel of four community development leaders including LIIF’s President & CEO Nancy Andrews, Capital Impact Partners President & CEO Ellis Carr, JPMorgan Chase Head of Small Business & Community Development Initiatives Janis Bowdler and Hosey Development Owner Richard Hosey.
Ms. Andrews shared ways that support from investors, like Chase, has led to capital innovations, such as Equity with a Twist, and high impact projects like ReFresh in New Orleans. Others on the panel described how this support has grown the Detroit CDFI Coalition, a collaboration of 17 CDFIs that will invest in developers, like Hosey Development, working in the city’s underserved communities.
The briefings were part of LIIF’s ongoing work with Capital Impact Partners, IFF, and the Reinvestment Fund, who have collectively made a significant impact on the communities they serve. LIIF is proud to join our partners in amplifying voices in the community development field so that more Americans can live happy, prosperous lives.