Cleveland Fed launches Investment Connection
The Cleveland Fed is pleased to announce the launch of Investment Connection, a tool to help community-based organizations find funding for their community and economic development projects. The tool features an online application portal and in-person events through which community-based organizations can propose projects that are likely Community Reinvestment Act (CRA)-eligible to financial institutions and other funders. Investment Connection is a new program within the Fourth District, which comprises Ohio and parts of Pennsylvania, Kentucky, and West Virginia. The Fourth District launch follows other Reserve Banks who have successfully used the program to advance projects and programs that focus on low- and moderate-income, distressed, and underserved communities.
Typical issues addressed in proposals include affordable housing, community services and facilities, small business development and workforce and economic development.
The Cleveland Fed will be holding CRA trainings, which will provide community-based organizations with information on Investment Connection, CRA, and other potential funding sources.
- August 15: Natural Bridge State Resort Park, Slade, Kentucky – Register
- August 20: Stuart’s Opera House, Nelsonville, Ohio – Register
Please visit www.clevelandfed.org/investmentconnection for more information.