The Community Development Finance Project
As the community economic development field evolves, practitioners face daunting challenges. In order to launch new and sustain existing projects, community-based organizations of all kinds must now operate within sophisticated private capital markets as opposed to relying on government and philanthropic sources of funds. Yet the majority of these organizations lack the skills to use these markets to their advantage.
Accessing these markets and leveraging them to finance projects demands a new level of sophistication. In this environment, community-based organizations must not only find solutions to difficult social problems, but also secure the financial resources to implement this critical work. At Milano, we teach our students to be bilingual—to speak the language of Wall Street and apply it to community streets.
The Community Development Finance Project (CDFP) is built on the recognition that bringing value added to underserved communities in the current complex environment requires a broad skill set that includes financial analysis, cultural competency, and an in-depth understanding of persistent and entrenched problems. Our students learn to find solutions to social issues and to frame them as business opportunities. The CDFP equips professionals with the business skills they will need combined with the urban policy and non-profit management skills that are the core of the Milano experience.
The Community Development Finance Project consists of:
- Curriculum enabling students to specialize in community development finance
- Technical assistance provision through the Community Development Finance Laboratory
- Public & private events
- Integration with the JP Morgan Community Development Competition
- Other applied research