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Momentum Texas: The Texas Community Development Finance Summit
April 13, 2004
Sponsored by
Federal Reserve Bank of Dallas and the Texas Mezzanine Fund, Inc.
In Cooperation with
Fannie Mae
Federal Deposit Insurance Corporation
Federal Home Loan Bank
Office of Comptroller of the Currency
Office of Thrift Supervision
Who Should Attend
- Bank presidents and CEOs
- Community reinvestment officers
- Affordable housing lenders
- Small business lenders
- Others interested in enhancing economic and community development lending in Texas
The Challenge
An analysis prepared by the Treasury Department's Community Development Financial Institutions Fund in 2002 indicated that 45 states ranked ahead of Texas in financing their economic and community development needs. This assessment and the dynamics of Texas' population growth require creative economic and community development financing initiatives.
Economic progress throughout the state will be hindered without adequate resources and programs for:
- Investment in low- to moderate-income communities;
- Creation of jobs and wealth building for low- to moderate-income people;
- Production of quality, affordable housing; and
- Growth of women- and minority-owned businesses.
The Purpose
This summit will provide examples of successful lending programs for affordable housing, small business and economic development. Two multibank-funded programs from another state (California) will help illustrate how community development finance in Texas can take a significant leap forward.
- Clearinghouse CDFI has leveraged funds from 40 financial institutions and two corporations to provide more than $13 million a year in alternative financing for housing, business development and community facilities.
- CEDLI, funded by 45 financial institutions, provides more than $15 million per year in alternative financing to assist small business growth and promote economic development.
The afternoon session will feature an analysis of some of the challenges facing community development financing in Texas. Responses to those challenges will be provided by representatives from:
- the banking community,
- the state of Texas, and
- the Texas Mezzanine Fund.
The Texas Mezzanine Fund is a statewide community development financial institution that provides financing for businesses located in distressed areas, women- or minority-owned businesses, and small businesses that create jobs for low- and moderate-income people. TMF also provides financing to for-profit and nonprofit developers of single- and multifamily affordable housing for families, senior citizens and households with special needs. The fund was capitalized by a consortium of financial institutions in Texas.
Event Details
When
- Tuesday, April 13, 2004
Registration: 9:30 a.m.
Program: 10 a.m. – 3 p.m.
Location
- Federal Reserve Bank of Dallas
2200 N. Pearl St. at Woodall Rodgers
Dallas, Texas 75201
- Complimentary parking is available at the corner of Pearl and Thomas streets.
- Driving directions and map
Fee
For more information
- Contact TMF at 214-943-5900
Agenda
| 9:30 a.m. |
Registration |
| 10:00 a.m. |
Welcome and Overview
Gloria Vasquez Brown
Vice President, Federal Reserve Bank of Dallas
Kenneth Dubuque
Chairman, Texas Mezzanine Fund, Inc. |
| 10:15 a.m. |
Meeting Community Development Credit Needs and Lessons Learned
Doug J. Bystry
President, Clearinghouse Community Development Financial Institution, Lake Forest, California |
| 11:15 a.m. |
Multibank Lending for Small Business and Economic Development
George E. Williamson
President and CEO, California Economic Development Lending Initiative, Oakland, California |
| Noon |
Luncheon Address
Michael T. Hernandez
Vice President of Housing and Community Development, Southwest Regional Office, Fannie Mae, Dallas |
| 1:15 p.m. |
Challenges for Economic and Community Development Finance
Dr. Steve H. Murdock
Professor, Institute for Demographic and Socioeconomic Research, University of Texas at San Antonio |
| 1:45 p.m. |
Discussion: Meeting Finance Challenges
Lewis Jones
President, JP Morgan Chase Community Development Corporation, New York
Edwina Carrington
Executive Director, Texas Department of Housing and Community Affairs, Austin
Jim Reid
President, Texas Mezzanine Fund, Inc. |
| 2:45 p.m. |
Questions and Answers |
| 3:00 p.m. |
Adjourn |
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