Community leaders in Northwest Indiana will explore the potential for CDFI Friendly Communities™ to bring CDFI financing to smaller markets on June 14th in Merrillville, Indiana, near Gary. The public is invited.
The Federal Reserve Bank of Chicago, the Office of the Comptroller of the Currency (OCC), and The Legacy Foundation will convene national and local leaders to explore how The Bloomington Model might adapt to benefit Lake County, Indiana. This is the first in a planned series of discussions about CDFI Friendly Communities™.
Bloomington, Indiana, Mayor John Hamilton and Community Foundation of Bloomington & Monroe County President Tina Peterson will talk for the first time about the Bloomington Model.
“The objectives for the convening,” the organizers explain, “are to provide an overview of community development finance and the role of community development finance institutions (CDFIs); inform current conversations and interests of Lake County municipal and regional organizations aspiring to form a CDFI; introduce the CDFI Friendly City™ Model utilized in Bloomington, IN; and identify next steps to pursue at the county or local level.”
The CDFI Friendly Communities™ approach is an new way to use community resources to encourage and assist CDFIs to take their expertise and financing to new, smaller markets that might not support standalone CDFIs. Smaller markets see more financing options and CDFIs see more opportunities. It grew out of work Five/Four Advisors has been doing to create new financing resources in and around Bloomington, a city of 80,000,
The convening, “Community Development Finance in Smaller Markets: Community Development Financial Institutions,” will take place from 8:30 a.m. to 1:30 p.m. CDT at IBEW Local 697, 7200 Mississippi Street, Merrillville, IN 46410. Registration is open until 11:00 am CDT on June 7th.
To learn more about the CDFI Friendly Communities™ approach for your community or to receive notices on upcoming convenings, please write to firstname.lastname@example.org.