Shaping community economic development policy effectively goes beyond legislative advocacy to include administrative advocacy at the federal, state, and local levels. Prosperity Indiana engages with agencies directed by the President and the Governor, as well as mayors, boards, and commissions assuming the executive role at the local level, to advocate for reforms and initiatives that best serve Hoosier communities.
The following three initiatives are central to supporting our members’ work at the administrative level.
1. ENSURE STATE AND FEDERAL RESOURCES MOST EFFECTIVELY ADDRESS COMMUNITY DEVELOPMENT NEEDS THROUGH STATEWIDE CONSOLIDATED AND ALLOCATION PLANS
With regards to setting priorities and awarding federal resources, Prosperity Indiana advocates for extensive public engagement, allocation criteria which aligns resources with the local needs as ascertained by each community, and transparency. Two critical opportunities for such input is in response to the Qualified Allocation Plan addressing Low Income Housing Tax Credit investments and Consolidated Plan addressing priorities for block grant funding through the Department of Housing and Urban Development. Prosperity Indiana will continue engaging members and providing comprehensive feedback to help identify unmet needs and ensure resources are spent effectively to achieve community economic development goals.
2. SUPPORT REGIONAL ECONOMIC PROSPERITY AND RESILIENCY
In 2017, Prosperity Indiana will engage members in regional Community Economic Development Strategy (CEDS) planning to ensure member interests and efforts are reflected in broader strategies designed to strengthen the regional economies by engaging community leaders, leveraging the involvement of the private sector, and taking advantage of effective partnerships.
3. PROMOTE FAIRNESS IN LENDING THROUGH CRA EVALUATIONS
The Community Reinvestment Act (CRA) aims to ensure regulated financial institutions meet obligations to address the credit needs of their local communities. Prosperity Indiana will become increasingly engaged in working with our members and lending partners in providing CRA feedback regarding the level of lending, investments, and services in low- and moderate-income neighborhoods to increase accountability and encourage innovation in serving communities traditionally underserved by regulated financial institutions.