Tag: Annie Donovan
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Over the last 30 years, federal community development spending has plummeted by almost 75 percent, measured as a share of the U.S. Gross Domestic Product (GDP). Fortunately, there are some programs with strong track records that have remained to provide necessary financing in capital-starved communities and to low-income people. The U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI) Programs, which was established in 1994, is one of these tools many communities have come to depend on for access to capital—especially rural and farming towns in the Midwest. Despite CDFI Fund Programs’ record of success and strong bipartisan support from Congress, this tool has come under threat, with the 2018 President’s budget calling for the elimination of funding.
In July 2017, 40 rural development leaders from five states came together to discuss rural economic and community development financing and the impact it … Read More »