CDCUs in New Jersey

[jdefilip at eden.rutgers.]

Hello! My name is James DeFilippis, and I am a graduate student at Rutgers
University. I also work as a researcher at the Center for Urban Policy
Research (CUPR), here at the University. My research interests focus on
community development issues, and community development banking in particular.
I am interested in writing my Master's Thesis on how commercial financial
institutions have underserved low-income areas in New Jersey, and how CDFIs
(and CDCUs in particular are filling in the gaps left by "traditional" banks.
I'm looking for information on both sides of this equation: on how banks
haven't adequately served certain communities in New Jersey; and on what CDCUs
are doing to meet these previously unmet needs. Please write me if you have
any information that you think might be interesting. I can be reached at:
jdefilip@eden.rutgers.edu, and at: The Center for Urban Policy Research
PO Box 489, Rutgers University
Piscataway, NJ 08855
Thank you, in advance, for any assistance you may provide for me.

James DeFilippis


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[bschmitt at eden.rutgers.]

Dear Jim,
Good to meet you. I to am interested in capital availability for local uses.
In particular, what the effect of all that international capital in NYC is
doing for the local capital needs. Is there a spill over? Or does the intense
demand for international money crowd the locals?

Thanks for your note. I hope we can meet sometime. I to am a Masters student
at Rutgers.


Brian SChmitt
bschmitt@eden.rutgers.edu


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[inceccon at eden.rutgers.]

Hi Jim,
Your research concerning the availibility of local capital for certain
municipalities is interesting. I was president of a Habitat for Humanity
chapter in New Jersey, and found though that due to the community
reinvestment act that traditional banks were good sources of financing for
low-income housing projects. I think that another dimension to this argument
is that developers are reluctant to build LI housing in certain
municipalities because of the risk involved. All the capital in the world
won't get them to build there because you can't guarantee an ROI that they
are comfortable with. So, what is the municipality doing to attract
developers? Have you looked at the impact of Mt. Laurel on this issue? I'm
also a Master's student at Rutgers in the planning program, with a
specialization in community development. I'm currently working on an
economic redevelopemnt project for the CBD of Plainfield NJ. Some of our
proposals involve mixed use development for the CBD, and many of the housing
units will be LI. If you get a chance, I'd would like to speak to you about
your topic. My email address is inceccon@eden.rutgers.edu, or you can reach
National Transit Institute, 120 Albany Street, New Brunswick, NJ 089901.
Sincerely, Ingeborg Ceccon.


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