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Overview

Re-Engineering the Real Estate Market

Stabilizing Communities, Addressing the Negative Impact of Foreclosures

Moving Toward Solutions: Research and Policy on Vacancy and Abandonment

Strengthening Neighborhoods in Weak Markets

Confronting the Neighborhood Impacts of Foreclosure

Events > Strengthening Neighborhoods in Weak Markets

This event was open to the public. Presentation materials and best practices will also be published online as they become available.

Past Event

Strengthening Neighborhoods in Weak Markets | Sept. 24-25, 2008

Federal Reserve Bank of St. Louis | St. Louis, Mo.

Hosted by the Federal Reserve Banks of Chicago, Minneapolis and St. Louis

This symposium provided participants with specific strategies that can help mitigate the negative impact of foreclosures on neighborhoods.

While much attention has rightfully focused on preventing foreclosures, communities are struggling already with the fallout from widespread foreclosures: vacant buildings, diminished tax revenue and displaced residents.

In low-cost real estate markets, the issues facing communities affected by foreclosures may be different from those in areas with stronger labor markets or less affordable housing.

National experts addressed the following key topics:

• how nonprofits and local governments can reduce the negative spillover effects of vacant properties;
• economic implications for municipalities;
• municipal governance solutions such as ordinances, land banks and housing courts; and
• funding and finance solutions, such as targeted neighborhood investment strategies.

The target audience included government officials, state and local policymakers, community development organizations, affordable housing developers, business leaders, trade associations, lenders and servicers.

 

For information, call Cynthia Davis at 314-444-8761 or send her an e-mail at communitydevelopment@stls.frb.org.

Presentation materials

Agenda and Program (PDF)

Welcome and Keynote

Glenda Wilson, assistant vice president, Federal Reserve Bank of St. Louis

The Mortgage Crisis: Economic and Fiscal Implications for Metro Areas (PDF)
James Diffley, managing director, U.S. Regional Services Group, Global Insight

 

Panel Presentation—Municipal Governance Solutions

Moderator: Alicia Williams, vice president, Federal Reserve Bank of Chicago

Legal Remedies: Local Strategies to Mitigate Negative Effects of Foreclosures on Communities (PDF)
Mark Ireland, attorney, Foreclosure Relief Law Project, Housing Preservation Project

Fostering Neighborhood Recovery (PDF)
Andriana Abariotes, executive director, Twin Cities LISC

An Orientation and Insights on Right-Sizing Cities (coming soon)
Kathryn Foster, director, The University at Buffalo Regional Institute

 

Luncheon Presentation

Introduction: Robert Schenk, senior vice president, Federal Reserve Bank of St. Louis

Facing the Mortgage Crisis: A New Model for Community Engagement (PDF)
Amy Shaw, vice president of education and community engagement, KETC St. Louis Public Television
[Also, "Facing the Mortgage Crisis": A KETC-TV Channel 9 Broadcast and Resource Guide for the St. Louis Region web site is available here.]

 

Plenary Panel Discussion—Municipal Finance

Moderator: Matthew Ashby, senior community development specialist, Federal Reserve Bank of St. Louis

The Future of Municipal Finance: Fiscal and Economic Implications and Housing Finance: Local Impacts and Responses (PDF)
Christopher Hoene, director, Center for Policy and Research, National League of Cities,
and Michael Pagano, dean, College of Urban Planning and Public Affairs, University of Illinois at Chicago

 

Panel Presentation—The Community Perspective on Problem Properties

Moderator: Michael Grover, manager, Community Affairs, Federal Reserve Bank of Minneapolis

Using Data and Research to Target Interventions (PDF)
Michael Schramm, Center on Urban Poverty and Community Development, Case Western Reserve University

Neighborhood Housing Markets and the Memphis Model: Linking Information to Neighborhood Action (PDF)
Phyllis Betts, founding director, Center for Community Building and Neighborhood Action, University of Memphis

Resident Engagement and Neighborhood Revitalization Strategies (PDF)
Matt Lasko, director of housing and community involvement, Detroit Shoreway Community Development Organization

 

Panel Presentation—Funding and Financing Solutions

Moderator: Jacqueline King, assistant vice president, Federal Reserve Bank of Minneapolis

New Approaches to Capital Formation and Interventions (PDF)
Tamir Novotny, program associate, Living Cities

Targeting Neighborhood Investment Strategies (PDF)
Ira Goldstein, director of policy and information services, TRF

Housing Programs in Weak Market Neighborhoods: Rethinking Strategies Going Forward to Develop the Right Tools (PDF)
Alan Mallach, senior fellow, National Housing Institute; visiting scholar, Federal Reserve Bank of Philadelphia and The Brookings Institution
[Additional Resource: How to Spend $3.92 Billion: Stabilizing Neighborhoods by Addressing Vacant and Abandoned Properties, a discussion paper by Alan Mallach (PDF).]

 

Closing Keynote

Moderator: Glenda Wilson, assistant vice president, Federal Reserve Bank of St. Louis

Opportunities for Building Better Policy for Neighborhood Revitalization in Weak Markets (coming soon)
Mark McDermott, vice president, Central Region, Enterprise Community Partners