1. Community Development Department Information and Trends November 9, 2011 Tammie C. Hoy Regional Community Development Manager

2. Confidential Information The History of the Community Development Program 2 At the Richmond Bank, our department is called Community Development. In 1981, the Federal Reserve System established the Community Affairs program in each of the 12 Federal Reserve Banks. The Community Affairs program reflects the structure of the Federal Reserve System. Within the framework of a shared mission and goals, each of the 12 Reserve Banks establishes its own Community Affairs programs and responds to local needs in its District.

3. Confidential Information The Federal Reserve Act 3 The Community Development program supports the Federal Reserve Acts economic growth objectives by encouraging financial institutions to invest in the public welfare by benefitting primarily low- to moderate-income communities or families (such as by providing housing, services or jobs.)

4. Confidential Information Federal Reserve Bank of Richmonds Community Development Department 4 Our Mission The mission of the Community Development Department at the Federal Reserve Bank of Richmond is to support the economic growth objectives of the Federal Reserve Act by working with public and private partners to resolve credit and development issues in low- and moderate-income communities. Our Vision To be a recognized leader in expanding community economic development opportunities.

5. Confidential Information What We Do 5 Our Teams Outreach Encourage cooperation among community development stakeholders to develop strategies for supporting community and economic development opportunities Communications Enhance public awareness of Community Development programs and issues through our website, publications and other resource materials Research Conduct thoughtful and timely research on issues relevant to low- and moderate-income communities

6. Confidential Information Community Development Department Areas of Focus 6 Strengthen community development banks and other CDFIs Develop capacity in nonprofit community- based organizations and targeted communities Stabilize and revitalize communities impacted by foreclosures Provide financial education and resources to low- and moderate- income individuals Emerging Issues

7. Confidential Information Emerging Issues Surveillance Tool (EIST) helps us identify, inform and plan Identify the most significant current and emerging community development issues in our District. Inform Bank senior leadership and the Community Development Department about significant emerging issues. Enable the Community Development Department to strategically plan outreach and research that will positively impact communities we serve. 7

8. Confidential Information Participants are surveyed twice a year Online survey administered in spring and fall to the same set of participants. 202 participants representing 100 geography-field categories. Each participant represents an important local perspective. Fall 2011 was our fifth survey. Received 122 responses (60% response rate). 8

9. Confidential Information Fall 2011 respondents were fairly evenly distributed across our District 9 West Virginia Virginia North Carolina South Carolina Maryland District of Columbia 16% 19% 21% 24% 17% 10%

10. Confidential Information Respondents organizations largely served an urban- rural mix 10

11. Confidential Information CURRENT ISSUES Fall 2011 EIST 11

12. Confidential Information Employment, affordable housing and federal budget are top current issues (any ranking) 12

13. Confidential Information Local employment ranked first among current issues 13 Percentage of Total #1 Votes

14. Confidential Information Compared to current issues in Spring 2011 Availability of local employment opportunities and access to affordable housing continue to be top two current concerns. Home foreclosures in general drops from #3 to #7. A new issue on our list – budgetary cuts and financing issues at the federal government level – gets the third- most votes. 14

15. Confidential Information EMERGING ISSUES Fall 2011 EIST 15

16. Confidential Information Top emerging issues with the most total votes (any ranking) 16

17. Confidential Information Top emerging issues with the most #1 votes 17 Percentage of Total #1 Votes

18. Confidential Information Which emerging issues materialized as current? Fall 2011, Top Current Issues, Any Ranking Availability of local employment opportunities Access to affordable housing Budgetary cuts and financing issues at the federal government level Spring 2011, Top Emerging Issues, Any ranking Availability of local employment opportunities Budgetary cuts and financing issues at the state government level Access to affordable housing 18

19. Confidential Information 19 Budgetary cuts at the federal and state levels will have a devastating effect on low wealth people and communities. High unemployment coupled with cuts in federal and state assistance will exacerbate the problem and we will see significant increases in the number of households below the poverty level. – SC Community Development Financial Institution

20. Confidential Information Opinions on economic prospects (new question) Do you think that SIX MONTHS FROM NOW general economic conditions in your community will be better than they are now, about the same or worse? 20 No respondents chose the option Much better.

21. Confidential Information COMMUNITY DEVELOPMENT OUTREACH 21

22. Confidential Information Outreach: Small Business Forums 22 The SC Lender Small Business Match Maker held in Columbia SC is part of our efforts to provide information and resources that assist businesses in accessing credit resources.

23. Confidential Information Outreach: Community Land Trust Forums 23 Community Development collaborates with housing organizations, municipalities, financial institutions and policymakers to host Community Land Trust forums in the District. Forums provide attendees the opportunity to learn about establishing, financing, marketing and sustaining CLTs.

24. Confidential Information Outreach: Data Conference 24 Our Community Development held an interactive conference titled Unleashing the Power of Local Data. The one-day conference hit full capacity at 110 and attracted participants from 11 states and the District of Columbia. Our interactive approach allowed attendees to use their laptops to work with different data sources and mapping tools in real time during the event.

25. Confidential Information Online Resource Centers 25 Community Data A collection of measures from public data sources compiled for the Fifth District. This community development data is at the county and state level for the District's five states, as well as the District of Columbia. Foreclosure Latest information on the Federal Reserve's efforts to mitigate the impact of foreclosure on our neighborhoods including maps, reports, consumer information and community resources. Mortgage Performance Summaries This series of reports, produced by the Richmond Fed's Research Department, provides state-level analyses of housing markets, and the composition and performance of mortgage markets in the Fifth District. Map A collection of maps created using public data compiled for the Fifth District. It contains maps for the entire Fifth District, for each state within the district, and for the District of Columbia. The maps display data by zip code and census tract.

26. Confidential Information Communication: Publications 26

27. Confidential Information Links 27 Richmond Federal Reserve http://www.richmondfed.org/community_development/ Board of Governors http://www.federalreserve.gov/communitydev/default.htm

28. Confidential Information Contacts 28 Tammie C. Hoy Regional Community Development Manager Charlotte Office Tammie.hoy@rich.frb.org 704.358.2579