Community Development Policy

3 Credits · Level: Graduate

This course examines the policy and practice of community development, including how public, private, and not-for-profit organizations work to strengthen the economic, physical, and social environments of low- and moderate-income communities. The course explores a range of community and economic development programs and policy issues, including those related to financing affordable housing, community facilities, and small businesses. With respect to affordable housing, it explores the affordable housing programs of the Department of Housing and Urban Development, the Low-Income Housing Tax Credit program, and state/local housing programs. The course also addresses emerging trends that are likely to affect community development policymakers and practitioners in the future, including new ways of raising capital for community development projects, partnerships between affordable housing providers and job training/financial coaching providers, and the role of fintech firms in financing small businesses and consumers. The course also explores job opportunities for McCourt students in community development policy and banking jobs. Although the course includes a discussion of public policy analysis and underwriting techniques used by public and private sector community development practitioners, no previous community development finance or public policy experience is required. The course is taught by Joseph Firschein, an officer at the Federal Reserve Board of Governors who leads the Fed’s supervision and regulation of bank lending in low- and moderate-income communities and the consideration of the community impact of bank mergers and acquisitions.