The Federal Reserve Bank of San Francisco recently released its Spring issue of Community Investments which focuses on affordable housing. The issue looks at how current stakeholders in the affordable housing industry are seeking out alternative ways to provide affordable housing in a particular challenging economy. They follow practitioners to learn about new public-private funding partnerships, as well as cross-sector efforts in healthcare, transportation, and energy efficiency.
One paragraph we found especially important on the topic ‘Looking Ahead’ from the report is as follows:
“In the current context of diminishing government funding, we need to be ambitious and creative in leveraging the resources we do have. In order to create affordable homes and other community needs, the community development finance field needs to continue to push our new boundaries and stretch our models to create partnerships and pool resources. Public and private interests need one another to succeed. Silos between the transportation, health, and housing sectors are being removed, partially out of necessity and partially out of a conceptual shift in which diverse partners realize we seek similar outcomes. The promise of creative diversification of funds for a public- minded mission, evident in the examples described above, can inspire similar efforts using this model to build and support stable communities through pooled resources and strong coalitions.”
To read the full report, click here.