Spotlight on East Baltimore Development Initiative
The Richmond Federal Reserve is out with a new paper on the community development efforts in East Baltimore in the early aughts. The paper looks at how East Baltimore's revitalization was supported by cross-sector collaboration and the right tools - in this case, the NMTC, LIHTC, and workforce development grants.
Community development investment in East Baltimore can be distinguished from other large-scale urban redevelopment efforts because of both the combined economic, community and human development strategies designed to benefit the area residents, businesses and the surrounding communities, and because of the innovations in community financing between and among core partners.
Most large-scale redevelopment and reinvestment projects depend on innovative financing and the leadership of local stakeholders and policymakers. The Project stands out because of its commitment to combine economic, community and human development strategies for the benefit of area residents, businesses and surrounding neighborhoods.