Bridges

Bridges Winter 2017-2018

Bridges is a quarterly review of regional community and economic development issues, projects and regulatory changes for practitioners from community-based organizations, as well as for Community Reinvestment Act officers, academics and government of

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I N D E X T H E F E D E R A L R E S E R V E B A N K o f S T . L O U I S | C E N T R A L T O A M E R I C A ' S E C O N O M Y W I N T E R 2 0 1 7 - 1 8 Investment Connection: The St. Louis Fed's New Approach to CRA 5 8 10 Connecting a Memphis Community to the Built Environment through Equity A N D M O R E > > New St. Louis Fed Tool Dives Deep into Community Investment By Michael Eggleston I t might come as a surprise to learn the following: • e New Markets Tax Credit (NMTC) program was critical to financing New Orleans' recovery after Hurricane Katrina. In the five years preceding Hurricane Katrina, New Orleans received nearly the same amount of NMTC investment as did Tulsa, Okla. (See Figure 1.) In the five years post-Katrina, New Orleans received $1.2 billion in NMTC investment while Tulsa received $68 million. (See Figure 2.) • Arkansas, Illinois, Mississippi and Mis- souri had among the lowest average inter- est rates in the nation on small-business loans originated by Community Develop- ment Financial Institutions (CDFIs) in 2015. (See Figure 3.) • Wisconsin is a national leader in NMTC and CDFI investment into nonmetro, rural communities. • El Paso, Texas, leads all metros for CDFI consumer lending. You can dive deeper into these and other stories through the St. Louis Fed's new Community Investment Explorer (CIE), >> continued on Page 3 FIGURE 1 FIGURE 2 $0 $2M $4M $6M $8M $10M $12M $14M $16M $18M New Orleans-Metairie, LA Commercial Real Estate Tulsa, OK NMTC Investment (2001-2005) Business $0 $200M $400M $600M $800M $1,000M $1,200M NMTC Investment (2006-2010) New Orleans-Metairie, LA Tulsa, OK Commercial Real Estate Other Residential Real Estate Business Cash on Hand is Critical for Avoiding Hardship

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