The role of community partners in urban investments

Lisa A. Hagerman, Tessa Hebb and Anna Steiger

No 2008-02, Public and Community Affairs Discussion Papers from Federal Reserve Bank of Boston

Abstract: Institutional investors seeking to deploy capital to underserved areas do not have either the time or the expertise to actively manage these specialized investments. Investment vehicles intervene by using their financial expertise to pool assets and lower transaction costs. Community partners, in turn, link the investment vehicle to the neighborhood. This paper develops a typology of community partners and their unique characteristics that enable them to overcome information asymmetries in certain markets. The paper also discusses the business models that establish the relationship between the investment vehicle and community partner to highlight strengths of the different models for delivering community transformation.

Keywords: Community; development (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedbpc:2008-02

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