Community Development: CDFI Fund Can Improve Its Systems to Measure, Monitor and Evaluate Awardees' Performance.

reportActive / Technical Report | Accession Number: ADA351199 | Open PDF

Abstract:

Access to credit and investment capital is essential for creating and retaining jobs, developing affordable housing, revitalizing neighborhoods, and promoting the growth of small businesses. In economically distressed communities, where access to credit and investment capital through conventional sources is often limited, private for-profit and nonprofit community development financial institutions CDFI such as nonprofit loan funds and community development credit unions, provide lending and investment services. In 1994, recognizing that such institutions were often having difficulty meeting the demand for their services, the Congress created the CDFI Fund. The Fund currently seeks to expand access to credit and other financial services in distressed communities, primarily through two programs The CDFI program provides financing and technical assistance to CDFI, while the Bank Enterprise Award program rewards banks and thrifts for providing similar services to CDFI and economically distressed communities.

Author(s):
No Author(s) Identified
Author Organization(s):
GENERAL ACCOUNTING OFFICE WASHINGTON DC RESOURCES COMMUNITY AND ECONOMIC DEVELOPMENT DIV
Pagination:
0077

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
GAO/RCED-98-225
Monitor Series:
XD
 Subject Terms
Joint Capability Areas:
JCA_5_Command and Control; JCA_5.3_Planning; JCA_5.6_Monitor; JCA_5.6.1_Assess Compliance with Guidance; JCA_5.3.3_Develop Strategy; JCA_5.3.4_Develop Courses of Action; JCA_5.3.5_Analyze Courses of Action; JCA_5.3.2_Apply Situational Understanding; JCA_5.6.3_Assess Achievement of Objectives; JCA_5.6.4_Assess Guidance; JCA_6.4.1_Secure Information Exchange; JCA_4.6.1_General Engineering; JCA_4.6_Engineering; JCA_5.5_Direct; JCA_5.5.1_Communicate Intent and Guidance; JCA_6_Net Centric; JCA_6.4_Information Assurance; JCA_6.2.3_Core Enterprise Services; JCA_1_Force Support; JCA_5.1.1_Establish and Maintain Unity of Effort with Mission Partners; JCA_5.1_Organize
Modernization Areas:
Autonomy
Communities of Interest:
No COI(s) Identified
Descriptor(s):
*MEASUREMENT, *PERFORMANCE(HUMAN), *FINANCE, CONGRESS, COMMERCE, INVESTMENTS, COMMUNITIES, MONITORING, GROWTH(GENERAL), AWARDS
Field(s)/Group(s):
Economics and Cost Analysis
Keyword(s):
CDFI(COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS)
Report Date:
1998 Jul 01
Creation Date:
1998 Aug 26