Communities are using new information systems to analyze development opportunities and strategically invest limited public resources to leverage private investment. In its effort to support local stabilization efforts, the Federal Reserve is highlighting how communities are changing their investment strategies, creating new partnerships, and demonstrating impact.
Communities across the nation are struggling with severe resource constraints as they seek to stabilize neighborhoods devastated by the economic crisis. While this strain has affected all levels of government, it is felt most profoundly at the local level where non-profits and municipal governments struggle to maintain basic services in response to increased demand.
Baltimore is using new investment strategies to achieve demonstrable impact on the ground. Baltimore is an older industrial east coast city with a population that has declined almost a third since 1950, leaving large swaths of the city with vacant and abandoned properties. Yet with strong leadership from the city and partners, Baltimore is now using data and mapping to identify areas of investment opportunity, and then working with community partners to leverage private investment dollars.