Author ORCID Identifier
0009-0005-5181-2388
Document Type
Professional Plan Capstone
Original Publication Date
2024
Client
Federal Reserve Bank of Richmond, Community Development Department
Location
Fifth District of the Federal Reserve System
Date of Submission
December 2024
Abstract
This plan explores strategies to advance equitable community development outcomes and enhance the understanding of impact analysis to improve economic well-being and quality of life across the Fifth District. By examining historical and current community development practices, along with relevant laws, regulations, and policies, the plan identifies actionable recommendations to address systemic inequities and foster inclusive growth. Grounded in Asset-Based Community Development and Equitable Development Planning principles, the approach emphasizes leveraging community assets, fostering collaboration, and promoting cultural competence to create sustainable frameworks for impactful development.
To address challenges in measuring outcomes, the plan introduces the Community Development Impact Self-Assessment Tool (CDIS-AT), tailored for Community Development Financial Institutions (CDFIs) with limited capacity for in-house evaluation. Developed through a feedback-informed process with CDFI stakeholders, the CDIS-AT offers a practical framework to assess impacts, integrate equity into decision-making, and ensure investments align with community needs.
Guided by three research questions, the plan outlines strategies for embedding equity into both day-to-day operations and long-term planning. Findings emphasize the importance of equity-centered evaluation tools, robust community engagement, and capacity-building to achieve sustainable outcomes. The recommendations and tools presented aim to empower CDFIs and practitioners to align community development efforts with a vision of equity, fostering measurable and meaningful impacts for underserved communities across the Fifth District.
Rights
© The Author
Is Part Of
Master of Urban and Regional Planning Capstone Projects
