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Tools Toward Market Restoration

event logoTools Toward Market Restoration will explore innovative strategies, policies and programs in community capital at work in midwestern urban areas that have been particularly affected by the Great Recession. This conference will bring a unique perspective with a focus on midwestern examples and with the goal of reframing 'risk capital' within re-emerging, urban markets. Sessions will explore topics from all angles, with an emphasis on the financing structures and partners that facilitated creative, transferable, yet sound solutions to common urban challenges, including capital absorption, housing, vacant land and institutional properties, commercial corridors, community anchors and job creation.

Wednesday, 03/18/15
9:00 AM
9:30 AM
Welcome Remarks
Alicia Williams, Vice President, Community Development and Policy Studies, Federal Reserve Bank of Chicago
Joe Neri, Chief Executive Officer, IFF
Robert G. Rowe, III, Vice President and Senior Counsel, American Bankers Association
9:50 AM
Introduction of Eric Belsky
Gordon Werkema, First Vice President and Chief Operating Officer, Federal Reserve Bank of Chicago
10:00 AM
Remarks of Eric Belsky
Eric Belsky, Director, Division of Consumer and Community Affairs, Federal Reserve Board of Governors
10:30 AM
Opening Panel
One of the founding principles of community capital is to increase options for socioeconomic mobility by all people, including those traditionally shut out of mainstream capital markets – minorities, immigrants and other marginalized populations. However, increasing evidence and discourse indicate that many communities remain chronically racially and socially isolated from opportunities – residential, educational and entrepreneurial – the arenas where community capital can have the greatest impact. Tools toward Market Restoration will open with a panel discussion featuring leading analysts and advocates addressing the ramifications of spatial segregation – why it exists and what can be done.
Niala Boodhoo, Host, Afternoon Shift, WBEZ Chicago Public Radio
James Carr, Senior Fellow, Center for American Progress
Alan Berube, Senior Fellow and Deputy Director, Metropolitan Policy Program, The Brookings Institution
Mario Small, Grafstein Family Professor of Sociology, Harvard University
11:45 AM
Buffet Lunch
12:30 PM
Interactive Session: Understanding Capital Absorption Capacity
What are the political, social, cultural and financial elements that create capacity for the effective deployment of investment capital in underserved communities? Through this exercise, participants will have the opportunity to deepen their understanding of how communities deploy investment and create an environment that puts dollars to work on behalf of low-income people. We intend to examine a variety of places, sectors and approaches that seek to understand what actions can be taken – by public, philanthropic, nonprofit and private sector leaders – to facilitate the flow and maximize the impact of community investment dollars. (Excerpted from “The Capital Absorption Capacity of Places: A Research Agenda and Framework Working Paper.”)
Robin Hackle, Senior Fellow, Kresge Foundation
1:30 PM
Managing Housing
Municipalities are faced with significant inventories of vacant residences, which contribute to neighborhood blight and depressed market values. Devising a strategy to address these properties requires a fundamental understanding of market dynamics. Panelists will discuss strategies for recalibrating supply and demand, restoring neighborhood stability in a manner that is equitable and inclusive, as well as innovative options for home ownership in challenging markets.
Joe Neri, Chief Executive Officer, IFF
Mike Loftin, Chief Executive Officer, Homewise
Kate Ansorge, Director of Housing, IFF
Bethany Sanchez, Director, Fair Lending Program, Metropolitan Milwaukee Fair Housing Council
Kate Monter Durban, Assistant Director, Cleveland Housing Network
3:30 PM
Accommodating Vacant Land
For many communities, identifying, selecting and implementing land use strategies are not possible due to market instability. Land banking is a strategy used by some communities, in partnership with community groups and financial institutions, to hold properties and land until an agreed upon use and value can be established. At the same time, community conversations about vacant land can be challenging and painful. This panel will address both the quantitative and qualitative aspects of establishing a land use strategy that is fiscally sound and works for the community.
Yvonne Sparks, Assistant Vice President and Community Development Officer, Federal Reserve Bank of St. Louis
Ira Goldstein, President, Policy Solutions, The Reinvestment Fund
Maggie DeSantis, President, Warren/Conner Development Coalition
Jim Rokakis, Vice President, Western Reserve Land Conservancy and Director, Thriving Communities Institute
4:00 PM
Repurposing Institutional Properties
William Dana, Jr., President and Chief Executive Officer, Central Bank of Kansas City
Robin Schabes, Vice President, Community Strategies, IFF
Shannon Jaax, Director, Repurposing Initiative, Kansas City (MO) Public Schools
Howard Snyder, Executive Director, Northwest Side Community Development Corporation
5:00 PM
Thursday, 03/19/15
8:00 AM
Registration/Check-in with Continental Breakfast
8:30 AM
Welcome and introduction of Keynote
Susan Longworth, Senior Business Economist, Federal Reserve Bank of Chicago
8:35 AM
Morning Keynote
Cliff Kellogg, Executive Director, Detroit Federal Working Group, Office of Management and Budget
9:30 AM
Connecting People to the Economy
Asset building and job creation strategies have traditionally been a key measurement of and motivation for the success of community capital initiatives. Today, this challenge remains greater than ever and requires a multi-faceted, multi-sectorial approach in order to connect with difficult-to-reach populations at all stages of employment, earning and savings. Understanding the role of small business ownership and entrepreneurship in both job and wealth creation is an integral part of any market redevelopment strategy. Panelists will explore this topic, the complex inputs required for success, as well as strategies and tools for tracking outcomes.
Matt Roth, Chief Operating Officer, IFF
Jonathan Brereton, Chief Executive Officer, Accion Chicago
Daniel Nissenbaum, Managing Director, Urban Investment Group, Goldman Sachs
Vicky Stein, Director of Strategic Partnerships, Community Reinvestment Fund - USA
10:30 AM
10:45 AM
Revitalizing Commercial Corridors
Bringing businesses and services back to a community is an integral part of neighborhood stabilization. However, repopulating a vacant commercial corridor with vibrant businesses requires attention to both the buildings and prospective tenants. Understanding existing market dynamics and adapting as they change is a challenge for property and business owners. This panel, leveraging multiple facets of community capital, will explore innovative partnerships that combine “bricks and mortar” support with small business technical assistance and financing.
Michael Grover, Assistant Vice President, Community Development, Federal Reserve Bank of Minneapolis
Isabel Chanslor, Director, NDC Business Lab, Minneapolis
Eric Robertson, President, Community LIFT, Memphis
Benjamin S. Kennedy, Deputy Director, Community Development – Detroit, Kresge Foundation
11:45 AM
Re-envisioning the Anchor
As much as communities may be overwhelmed by lists of what is missing or not working, they must also take time to inventory their assets, often in the form of key anchor institutions. Whether a hospital, school, community facility, primary employer or faith-based institution, anchors come in many shapes and sizes. This panel will focus on leveraging the existence of an anchor institution, attracting various streams of funding to serve multiple community needs and how to engage a reluctant anchor.
Michael Berry, Director, Policy Studies, Community Development and Policy Studies, Federal Reserve Bank of Chicago
Michelle Hoereth, Manager, Strategic Initiatives, IFF
Will Towns, Assistant Vice President, Neighborhood Initiatives, Office of Civic Engagement, University of Chicago
McLean Wilson, Principal, Kemmons Wilson Companies
12:45 PM
Buffet Lunch
1:00 PM
Luncheon Keynote
2:00 PM
Wrap Up and Adjourn
Susan Longworth, Senior Business Economist, Federal Reserve Bank of Chicago
Event Information
Event Contact
Rhonda Branham
(312) 322-2538
03/18/15  - 03/19/15
Registration Deadline
Friday, March 13, 2015
Federal Reserve Bank of Chicago
230 South LaSalle Street
Chicago, Illinois 60604
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Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

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