2014 CD Perspectives Report

Issue link: http://read.stlouisfed.org/i/332204

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Page 10 of 23

Visit FedCommunities.org How can data be better utilized to measure conditions, inform initiatives and alliances, and track the progress of community redevelopment efforts? Data measurement and analysis have become increasingly important, but much work remains to build the capacity to assemble relevant and meaningful data across sectors and convert it into actionable information. Several Reserve Banks are working on projects—including a new publication—to create a better understanding of the use of data in the field, which can help nonprofits gather and use data to further mission goals. For readers of this report seeking more information about Federal Reserve CD activities related to these issues, visit the "Practice" section of FedCommunities.org. This portion of the site features a number of resources focused on the CRA, community organizational capacity building, developing and investing in healthy communities, and much more. The site features an interactive search tool and allows users to sign up for notifications when new resources become available. At the intersection of community development and health The Federal Reserve is partnering with community development providers, health care organizations, foundations, and health policy groups across the country on initiatives to leverage the joint resources of the CD and health sectors to improve health outcomes for lower-income communities. To learn more, see Healthy Communities and "Healthy Communities: A Framework for Meeting CRA Obligations." The Community Reinvestment Act: An evolving tool for community development Since its passage in 1977, the CRA has guided bankers and practitioners in directing capital to CD projects. The Investment Connection is an online exchange where community organizations can submit proposals for funding and funders can review potential funding opportunities. On the consumer side, a 2013 Reserve Bank discussion paper looked at credit reporting agency data for evidence of a link between the CRA and lower-income individuals' credit scores. Data can tell only part of a commu- nity's story; people tell another Through surveys, we can better understand issues facing communities across regions, Districts, and the country. Stakeholders' responses provide a critical reality check: does what we see in the data match what's happening on the ground? How do issues vary across regions? Responses also help shape the research and outreach projects we work on. Check out Community Pulse for a look at how one Reserve Bank tracks current and emerging CD issues. WANT TO LEARN MORE? 11

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