Spanning the Region

Delta State University Develops Partnership for Mississippi Delta

Delta State University's Center for Community Development brings together businesses, citizens, public agencies, public officials, institutions of higher education and faculty to develop innovative solutions to problems in the Delta. The center is located in Cleveland, Miss., and its partnership programs include the Delta Partner Initiative, which provides support in four areas:

  • Delta Emerging Leaders Program—enhances the skills of the next generation of Delta leaders;
  • Local Government and Public Officials Program—enhances the leadership and management skills of public officials in small Delta towns;
  • Community Development Demonstration Program—implements intensive demonstration programs in Delta communities to prove that community development can happen in the Delta; and
  • Regional Capacity Building Program—provides hands-on workshops and conferences and provides technical assistance on critical issues.

For more information, contact the center at (601) 846-4359.

Eubank Joins Memphis Branch

Ellen Eubank recently joined the Community Affairs staff of the Federal Reserve Bank of St. Louis. Eubank, a community affairs specialist assigned to the Memphis Branch, has several years of experience with a nonprofit organization serving Memphis and the Mid South.

Ellen will assist in the Fed's efforts to provide banks and bank holding companies with information on appropriate programs to help meet community development needs, as well as promote the goals of the CRA by facilitating communication between borrower groups, local governments, development organizations and community financial institutions. She can be reached at (901) 579-2421.

Indiana Offers Low Interest Rates for First-Time Homebuyers

For first-time homebuyers, the Indiana Housing Finance Authority (IHFA) lowered the interest rate on its First Home mortgage loans to 6.875 percent. The rate applies to conventional loans, as well as loans backed by the Federal Housing Administration and the U.S. Veterans Administration. Loan applications from low- to moderate-income families will be accepted throughout 1998. Mortgage interest rates will be adjusted continually. Down payment assistance is available as no-interest loans to lower-income households.

About 100 banks and mortgage companies participate, many of them in rural counties. To obtain a brochure on local lenders and income and purchase price limits for a particular county, call (800) 669-4432.

One-Stop Shopping for Housing in Illinois and Missouri

Housing clearinghouses provide information on homeownership to first-time homebuyers, low- to moderate-income families, the disabled, senior citizens, veterans or any potential homebuyer. The Missouri Housing Development Commission, in coordination with USDA Rural Development, University Extension and 10 other federal and state agencies and lenders, has formed a cooperative effort called the Missouri Housing Partners with this purpose in mind. The Missouri Housing Partners (MHP) will supply individuals information they need on home loans, down payment assistance, mortgage refinancing, home repairs, homebuyer counseling and related topics. For more information, call (314) 889-2911. MHP also has a new web site; the address is www.mhdc.com.

The Illinois Office of Housing Coordination Services coordinates housing programs administered by Illinois state agencies and acts as an information and referral source for all housing programs throughout Illinois. For more information, call (312) 836-5383 or visit its web site at www.ihda.org.

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2015 Federal Reserve System
Community Development
Research Conference