2014 Industry Snapshot

Thank You! To the 35 organizations who completed the survey

Highlights Invested over $109 million in housing, neighborhood revitalization, business development and other projects statewide over the past three years Employed nearly 2,000 Marylanders full-time with benefits and 95 part time Created 675 housing units in Maryland in the past three years Engaged over 6,000 volunteers in the past three years The CDFI’s invested over $172million in projects statewide

Methodology Online survey of community development stakeholders, 30 respondents 27 non-profits one small developer 2 public agencies Online survey of Community Development Finance Institutions 5 respondents Serve various parts of the state

Non-Profit and Small Developer Responses Employment Hire 2,053 full time employees and 95 part time employees 75% of the organizations provide health insurance for their full time employees Question about how many contactors employed was not asked specifically on the survey.

Non-Profit and Small Developer Responses (con’t) Volunteers Engaged over 6,000 volunteers over the past three years

Non-Profit and Small Developer Responses (con’t) Housing 45% of the non-profit and small developer respondents developed some sort of housing in the past three years. Overall 697 units of housing were developed in the past three years Invested $103,673,000 in these projects (including rehabilitation of vacant properties and new construction). $12million of this was for mixed use housing/commercial projects.

Non-Profit and Small Developer Responses (con’t) Other neighborhood revitalization initiatives: 60% of respondents do other physical improvements in neighborhoods, such as façade improvement, murals, signage, tree plantings, etc. Overall cost was $2,492,800 in these projects over the past three years. Three organizations reported working to improve business opportunities in their areas.

Non-Profit and Small Developer Responses (con’t) Other community development: Each organization who responded have several programs to improve the quality of life for people living in the community. Green building/energy efficiency (42%) Housing counseling (29%) Youth programs (29%) Homeless services (29%) Education advocacy (33%) Transportation advocacy/services (33%) Financial Literacy (33%) Job training (29%)

Public Agencies 2 public agencies answered the survey Administer programs such as “Main Street”, Community Legacy, affordable housing, façade improvements and street- scaping projects.

CDFIs Community Development Financial Institutions 5 CDFIs answered our survey to CDFIs. Types of investments: Affordable housing Commercial revitalization Entrepreneurs Alleviating “food deserts”

CDFIs (con’t) Investments in the past four years totaled $172.9million in the Baltimore area. Have $719 million in their loan pool total (although one organization uses this for other locations in the region).

Other Cities In 2003, the Oregon Opportunity Network published a report that showed that every dollar of state funding for affordable housing was leveraged by $4.33 of other financing, and the state earned a return on investment of over 25%.

Other Cities (con’t) According to a 2012 report from the Philadelphia Association of Community Development Corporations: Philadelphia’s CDCs contributed over $3.3billion to Philadelphia’s economy over the past 10 years. More than $2.2 billion of the $3.3 billion is the result of direct investment in city neighborhoods through new construction and rehabilitation of homes, commercial and public spaces. During the two decades covered by the study, Philadelphia CDC investments resulted in nearly 12,000 jobs, $28 million added to city tax rolls and $680 million in increased wealth for neighborhood property owners by transforming blight.

Other Cities (con’t) The Massachusetts Association of Community Development Corporations details a “Goals report” each year, following their member’s data across several factors. In 2013, CDCs in Massachusetts: Engaged 2,602 community leaders to guide and shape efforts in local neighborhoods and communities Built or preserved 849 homes Created or preserved 4,755 job opportunities Helped 1,165 entreprenures start, grow or stabilize their businesses Provided economic and educational opportunities to 54,380 families with housing, jobs, training or other services Attracted $419million in provide and public investments for community revitalization.

Conclusions Community Development does have social and economic impact Our Snapshot provides a look the significant impact a small part of Maryland’s Community Development has on the neighborhoods served CDN has committed to raise funds for a longer term study on the return on investment of community development in Maryland.