Rural Places, Rural Spaces Forum Resources

Thank you to everyone who attended our Rural Places, Rural Spaces Policy Forum. It was a fantastic day and a tremendous opportunity to share experiences and insights about the importance of economic development in rural communities. There have already been some positive outcomes from the event, and we look forward to exploring additional opportunities to advance the case of economically distressed areas.

If you did not have an opportunity to attend, you can still learn from the information and perspectives offered throughout the day.

We hope you will find the information provided below to be a valuable resource as you reflect on the challenges that exist and how we address them.

You may click the following links to be directed to their respective sections of this webpage:

Opening Session
Panel 1: CDFIs, CRA & Persistent Poverty – The Path to Greater Impact
Panel 2: Igniting the Flame: Philanthropic Investment in Persistent Poverty Areas
Panel 3: Stimulating Economic Mobility through Rural Housing
Announcement: HBCU-CDFI Economic Mobility Strategy Guide
Pre-Forum Delta Tour
Event Videos
Event Photos
Policy Forum in the News

Forum Opening Session

View the program booklet: Rural Places, Rural Spaces Policy Forum Program Booklet.

See opening slides from HOPE CEO Bill Bynum: Bill Bynum Policy Forum Slides.

View HOPE’s Wall Street Journal Financial Inclusion Challenge Video:

Policy Forum Panels

Panel 1

CDFIs, CRA & Persistent Poverty – The Path to Greater Impact

Community development financial institutions have a demonstrated track record of braiding public and private resources to deliver mobility-enhancing financial services in low-income and distressed communities. These services range from deposit accounts and mortgages, to loans for small businesses and essential community infrastructure, such as schools, grocery stores and affordable housing. CRA-motivated bank investments are a primary funding source for CDFIs. Community development experts examined strategies for increasing the scale and impact of CDFIs in persistent poverty areas.

Panelists:

Dan Letendre, Bank of America
Lisa Mensah, Opportunity Finance Network
Nick Mitchell-Bennet, CDC of Brownsville
Laura Simão, Goldman Sachs
Jesse Van Tol, National Community Reinvestment Coalition
Ed Sivak, HOPE – moderator

Read Opportunity Finance Network’s handout on how reforms to the CRA could help CDFIs: Bank Investment Falls Short in Rural America.

View the paper on Mobility from Poverty by Bill Bynum, Diana Elliot, and Edward Sivak.

Click here to view the Panel 1 video.

Panel 2

Igniting the Flame: Philanthropic Investment in Persistent Poverty Areas

From seeding the CDFI sector to developing innovative models for financing entrepreneurs, housing and community facilities, philanthropy has played a catalytic role in driving investment to underserved people and places. However, the National Committee on Responsible Philanthropy found significant disparities in the rate of philanthropic funding in places like the Mississippi Delta.

On this panel, philanthropic leaders shared insights on how philanthropy and impact investors can ignite increased investment in persistent poverty areas.

Panelists:

Anne Marie Burgoyne, Emerson Collective
Justin Maxson, Mary Reynolds Babcock Foundation
Kyle Peterson, Walton Family Foundation
Bill Bynum, HOPE – moderator

Click here to view the Panel 2 video.

Panel 3

Stimulating Economic Mobility through Rural Housing

Announcement: HBCU-CDFI Economic Mobility Strategy Guide

HOPE, together with the Federal Reserve Bank of Atlanta and the HBCU Community Development Action Coalition, worked with Mississippi Valley State University and Jackson State University to assess community and economic development needs and opportunities in neighborhoods adjacent to their campuses. The HBCU-CDFI Economic Mobility Strategy Guide details lessons, best practices, and resources identified through this process that can be used by other HBCUs and CDFIs seeking to collaborate toward upward economic mobility for HBCU communities and stakeholders. View it here: HBCU CDFI Strategy Overview.

Pre-Forum Delta Tour

Prior to the forum, participants had the opportunity to experience a tour of the Delta. The following information was provided during that portion of the event.

Eastmoor Estates:

Built in the late 1960s as an affordable-housing development, and converted into a Low-income Housing Tax Credit project in the 90s, inadequate construction and infrastructure resulted in deteriorating conditions, including fires, pest infestation, and raw sewage. Ultimately, a lawsuit forced the developer to transfer ownership of the substandard properties to the residents. In 2015, HOPE began working with residents and local leaders to address the severe deficiencies, combining funding from Goldman Sachs with public and philanthropic sources to rehab 44 homes and other amenities to substantially improve conditions in Eastmoor. Find out more: Eastmoor Estates Housing Development Overview.

View the Delta Cluster Profile 2019.

Delta Tour Perspectives from Community Leaders: (Video coming soon)

Johnny Carter, Eastmoor Resident Leader
Desiree Hensley, Associate Professor and Director of the Housing Clinic, University of Mississippi School of Law
George Holland, Moorhead Mayor (Small Towns Partnership)