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We have heard from many lenders and community organizations that the availability of decent and affordable housing is a critical issue in their communities. This edition of Community Dividend was planned with just those comments in mind. Specifically, we will be examining ways to develop, finance and protect housing stock.
Our cover story on the successful completion of Hills Apartments in Deadwood, South Dakota, by Neighborhood Housing Services of the Black Hills offers insights into the challenges and opportunities for affordable housing development in small communities. An informative article on bank CDCs explores an innovative way for lenders and communities to form partnerships for housing and community development. Flood insurance is the topic of our third feature article. Although flood insurance is always an important issue for lenders, it is especially timely with the possibility of flooding still a concern in parts of the Ninth District.
As a special feature, we have included excerpts from a recent speech given by Nicolas Retsinas, assistant secretary for Housing-Federal Housing Commissioner for the U.S. Department of Housing and Urban Development. In Retsinas' speech, given at a South Dakota housing conference, he reminds us of the limits of today's prosperous economy and challenges us to redouble our efforts to reach the people who have been left behind.
A community's housing stock is one of its most valuable assets. We hope the information contained in these articles helps develop your understanding of the importance of investing in and protecting that asset.
