Tools Toward Market Restoration

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.

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.”)

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.

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.

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.

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.

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.