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Articles by Joe Neri
Leveraging the Community First Fund to Scale FHLBanks' Mission Impact
The Federal Home Loan Bank (FHLBank) of Chicago's Community First Fund (CFF), a revolving loan fund that provides direct support to community development financial institutions (CDFIs), is an example of how the FHLBank System can support affordable housing and community development. The program helps recipients expand their capacity for affordable housing and economic development lending, both of which are central to FHLBanks’ mission. This model can be replicated across all 11 FHLBank districts.
Joe Neri: Madison project with housing, child care under one roof shows need for federal fund
Madison and other cities are facing a severe shortage of quality early childhood education and affordable housing. Nonprofits Movin’ Out and Red Caboose are bringing both of these critical assets together under one roof in Madison. They opened a facility in September with a center on the ground floor and apartments on the upper three floors — including affordable units and some that support tenants with disabilities.
Infinite Banking Concepts to help you master money
About this Event Families: Stop pretending "make more money" is a strategy, let's implement Principles that will grow your money safe & fast!! <h4>These are Advance Ways Families & Entrepreneurs can be guaranteed to get an extra 1 to 3 Million Dollars in Retirement.</h4> Advance Wealth Building Workshop to Help You Master MoneyWITHOUT: Changing your lifestyle... or putting extra hours at work! FREE Workshop Reveals: ✔️Why most financial advisors can cost you Millions of dollars in retirement..
Infinite Banking & Real Estate
About this Event Many of you have expressed an interest in sharing our practice with family, friends, and co-workers. We are responding by holding an educational session to not only answer questions but to go back through and review the basics of the Infinite Banking Concepts and how to use it with Your Business.
Let's Act Now to Stop Racism in Real Estate Appraisals
As community development financial institutions work to become anti-racist, it is vital for us to identify and understand the three levels of racism that distort our work. Interpersonal, institutional, and systemic (or structural) racism reinforce behaviors, procedures, policies, conditions, and outcomes that have long harmed our communities. In 2022, the Biden Administration’s Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released an action plan.
Infinite Banking Concepts & Real Estate Investing
Many of you have expressed an interest in sharing our practice with family, friends, and co-workers. We are responding by holding an educational session to not only answer questions but to go back through and review the basics of the Infinite Banking Concepts and how to use it with Real Estate.
From Scarcity to Inspiration: Rethinking the Value of Nonprofit Facilities
Nonprofit facilities communicate, and we need to be more conscious, thoughtful, and vocal about what they say about who and what our organizations value. A dilapidated and dysfunctional facility communicates that the work conducted inside it is unimportant, the people served deserve no better, and the surrounding neighborhood is forgotten and forsaken.
Appraisal-based lending contributes to racial wealth gap
Nearly all real estate lending relies on "appraised value"—an estimate of a property's value based on comparable sales or income. It is used to determine project feasibility, acquiring or constructing buildings and financing the built environment. It's the sanctioned underwriting tool used by banks, regulators and government for real estate loans. Appraised value lending is also the textbook definition of structural racism.
This hidden Biden-Harris proposal could revive community reinvestment
What do communities need to thrive? The answer seems obvious: jobs that pay living wages, affordable housing, reliable transportation, and access to quality food, education and health care. So why are those things so hard to come by in some communities? Because cornerstone community projects — the schools, grocery stores, health care centers, housing, and community centers that neighborhoods rely on — don’t deliver the high returns and quick turnarounds of many traditional development projects.
A Moment of Choice: Racial Equity, CDFIs, and the PPP Lending Fiasco
“Fulcrum Sculpture, Octagon Arcade, City Of London,” Jim Linwood Crises are the fulcrums of who we are as a society. The current COVID-19 pandemic is no exception. From the frontline health care and emergency workers to those building toilet paper igloos in their homes, this crisis spotlights how our past experiences and decisions, our institutions and infrastructure, shape our current behaviors and reactions. And racism is our country’s most powerful shaper.
Let's Interrupt History: Racial Equity in a Time of Crisis — Shelterforce
Image by Ivana Divišová from Pixabay Crises are the fulcrums of who we are as a society. The current COVID-19 pandemic is no exception. From the front-line health care and emergency workers to the idled people building toilet paper igloos in their homes, this crisis spotlights how our past experiences and decisions shape our current behaviors and reactions. And racism is our country’s most powerful shaper.
Why community developers should care more about early childhood education
A blog by IFF CEO Joe Neri At a recent gathering of friends from my first job, we were reminiscing about some of our triumphs, defeats, and growing pains – and I was reminded of what a complete dunce I once was about the importance of early childhood education (ECE) to community development. Let me be clear – no type of facility development in the nonprofit sector is more daunting than early learning centers.
The Appraisal Bias: How more equitable underwriting can increase capital in communities of color
A blog by IFF CEO Joe Neri We are reading a lot about applying a “race equity lens” to community development. So what does it mean to have a race equity lens on capital? To answer this question, we have to talk about appraisal-based lending – an instrument of systemic racism that still has a profound impact on communities, even after the outlaw of overt redlining more than 50 years ago.
Hacking community lending to interrupt racial bias in 'appraised value'
Detail from a 1930s-era redlined map of Minneapolis l Photo credit: The Federal Reserve Bank of Minneapolis ImpactAlpha, May 7 – No nonprofit or small business should have to raise more money to serve kids in communities of color than they would have to raise to serve kids in white communities. Lending inequities have starved communities of color from needed capital for decades.
Congress: Continue to invest in America’s struggling cities and towns
As leaders of four of the nation’s largest nonprofit community development financial institutions (CDFIs) with the mission of investing in low-income communities and entrepreneurs, we ask Congress to protect the desperately needed flow of investment capital to America’s struggling cities and towns.
IFF: Building Capacity through Scale and Integration
IFF, a community development financial institution (CDFI) formerly known as Illinois Facilities Fund, started 26 years ago as a $2.7 million loan fund that provided financing for the renovation, expansion, and new construction of facilities for nonprofit organizations serving low-income and special needs populations.
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