Little Rock Branch Hosts Affordable Housing Roundtable

The Little Rock Branch of the Federal Reserve Bank of St. Louis hosted a community development roundtable in Pine Bluff, Ark., on Dec. 7. “The Federal Reserve acts as a catalyst in promoting affordable housing information by hosting roundtable meetings like the one in Pine Bluff,” said Lyn Haralson, Community Affairs specialist, Little Rock Branch.

Though hosted by the Federal Reserve, the community development roundtable was community-driven. Those attending Thursday’s meeting heard about Pine Bluff’s housing programs from the Department of Housing and Urban Development, the Arkansas Development Finance Authority and the Arkansas Historic Preservation Program. Representatives discussed the affordable housing assistance available from each of these agencies.

Attendees were in agreement that community leaders should work together to increase awareness about the assistance that is available to individuals who need affordable housing. Participants enthusiastically embraced the concept of financial education as a key component for familes to find and keep the affordable housing they need.

Haralson said that as a result of the roundtable meeting, a housing fair is in the planning stages for next year. Partnering with the organizations in attendance and the Fed's economic education staff, the Federal Reserve will pilot a new type of housing fair centered around affordable housing choices. The event will highlight financial literacy for the whole family. The fair will provide information and assistance in obtaining funding for affordable housing and provide interactive workshops on the home-buying process and financial literacy. Children will find interactive workstations where they'll learn about money.

In closing, Haralson pointed out that affordable homes are important for children.

• Affordable housing helps to stablize children’s lives.
• Studies have shown stable homes increase children’s standardized test scores by an average of 7 percent.
• Children have more respect for parents who provide them a safe and decent home in which they can take pride.

After all, Haralson concluded, stabilizing families is what affordable housing is all about.