TARP for Community Development?
Posted by Matthew Brian Hersh on June 4, 2009
Doris Koo, president and CEO of Enterprise Community Partners, brought up an interesting concept of using TARP monies returned to Treasury by various lending institutions and re-appropriating them toward community development financial institutions.
Community Development TARP, as she called it here at the 10th annual National CAPACD convention in Washington, DC, could take basically the same approach as all of the major banks. “I think community banks, CDCs and CDFIs need to access the same risk capital as the banks and be recapitalized and have their balance sheets boosted,” she said.
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Matthew Brian Hersh proudly served as senior editor at Shelterforce from March 2008 to October 2012. He studied English at Rutgers University and has spent his professional career in journalism, policy, and politics. He displays many of the trappings of a New Jersey sports fan: dispirited Mets fan, former Nets fan before they left the state, and normally satisfied Giants fan. Hersh lives in Highland Park, NJ with his wife and two children.