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A new blueprint for financing community development - Part I

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Boyle Heights, a neighborhood in East Los Angeles, is one of the city's cradles of Mexican American history and culture. At its heart sits Mariachi Plaza, a longtime gathering place for mariachi musicians for hire.
The article "A New Blueprint for Financing Community Development - Part I" discusses the evolving landscape of community development finance in the United States. It highlights the challenges faced by traditional funding models like the Community Development Block Grant (CDBG) and the Low Income Housing Tax Credit (LIHTC), which are increasingly strained due to economic pressures and policy changes. The piece introduces innovative financing strategies such as Opportunity Zones, which aim to spur economic development in distressed communities by offering tax incentives to investors. Additionally, it explores the role of new financial tools like social impact bonds and the potential of technology in enhancing transparency and efficiency in fund allocation. The article also emphasizes the need for a collaborative approach involving government, private sector, and community organizations to address the funding gaps and to foster sustainable development. It sets the stage for a series of discussions on how these new financial mechanisms can be effectively implemented to revitalize underserved areas.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/a-new-blueprint-for-financing-community-development-part-i/ar-AA1vZK2J ]