The St. Louis Fed’s Housing Market Conditions report provides a snapshot of conditions in the U.S. and in the Eighth District states and MSAs. View the most recent report, as well as archives of previous reports, at www.stlouisfed.org/hmc. You’ll also find Housing Market Perspectives: On the Level with Bill Emmons, an analysis of the quarterly report by Bill Emmons, an assistant vice president and economist at the St. Louis Fed.
HOPE (Hope Enterprise Corporation and Hope Credit Union) joined U.S. Department of Agriculture (USDA) Rural Development, Mississippi’s congressional delegation, Bank of America and the National Cooperative Bank to announce a $40 million investment in the Delta region by the USDA Community Facilities Relending Program. HOPE will receive $40 million in low-cost, long-term capital to re-lend to hospitals, schools and other vital municipal and nonprofit facilities in small, rural communities. Also serving the Delta, Southern Bancorp Community Partners received a $10 million allocation from USDA. For more information, visit www.rd.usda.gov/files/RD-CFRe-LendingOctober2016.pdf or http://hopepolicy.org/blog/breaking-barriers-usda-investment-in-the-delta-demonstrates-power-of-working-together.
The USDA has announced the launch of a new private investment fund with the potential to inject $100 million into growth-oriented, small businesses across rural America. The McLarty Capital Partners (MCP) Rural Business Investment Company (RBIC) will be the fifth RBIC that USDA has helped to initiate since 2014. The initiative is part of USDA’s ongoing efforts to attract private sector capital to investment opportunities in rural America to help drive more economic growth in rural communities. Information is available at http://www.usda.gov/wps/portal/usda/usdahome?contentid=2016/10/0222.xml&contentidonly=true
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FedCommunities.org is a portal to community development resources from all 12 Federal Reserve Banks and the Federal Reserve Board of Governors.