“Despite the meaningful progress that the Biden-Harris Administration has made, the reality is that underserved communities — many of whom have endured generations of discrimination and disinvestment — still confront unacceptable barriers to equal opportunity and the American Dream.”
Those words from President Biden’s latest Executive Order (EO) say it all – and perfectly align with LIIF’s mission that “everyone in the United States should benefit from living in a community of opportunity, equity and well-being.”
This guidance from the White House represents the current administration’s emphasis on holding all parts of federal government accountable for implementing equitable development policy. The directive offers a collective pathway forward in forging all-the-stronger partnerships with federal agencies, other CDFIs and developers.
Let’s be clear: This is not just about new programs. Rather, it is about ensuring existing programs take a targeted approach — and are modified as required — to meet the EO’s equity mandates. The same holds true for existing appropriations. Our underserved communities need jobs. Transit-based facilities. And, most of all, being able to choose where to call home, without the fear of displacement.
LIIF remains committed to deepening our impact to address the lack of access to opportunity that far too many communities still face. LIIF centers racial equity when it comes to how our CDFI deploys capital. We are redefining risk, knowing that the systemic barriers long in place must be broken down to build power and agency for the historically excluded Black, Latino and other people and communities of color we serve.
We also know that we need equity-centered federal policies and directives to resolve these chronic issues. LIIF will continue to advocate for equitable community development policy, now bolstered by this strong executive order, to make a difference. Together.
Read more information on the EO here.