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Recognizing that community development needs vary widely throughout the Ninth Federal Reserve District, we have established three primary areas of focus in Community Affairs. These areas are the Twin Cities metropolitan area, small cities and rural communities, and Indian Country. Previous issues of Community Dividend have focused on lending in Indian Country or affordable housing issues in rural communities. This issue focuses on conditions in the Twin Cities metropolitan area.
We take a special interest in the Twin Cities metro area because it provides unique community development opportunities and challenges. As the largest metro area within our District, the Twin Cities is a regional economic center whose conditions can affect communities throughout the Upper Midwest.
The cover article of this issue provides excerpts from A Profile of the Twin Cities Metropolitan Area: Demographics, Home Mortgage Lending Activity, Credit Needs and Opportunities, a report researched and developed by our staff for release this spring. The article summarizes the views of local leaders regarding community development issues and opportunities facing the region. The article also highlights key demographic information from the profile. To bring the numbers to life, short profiles of "average" individuals representative of the statistics are highlighted throughout the article.
A second article focuses on analysis of 1997 Home Mortgage Disclosure Act (HMDA) data for the Twin Cities metro area. It provides a quick look at some home mortgage lending trends for the Twin Cities market compared to national trends.
Providing a snapshot of conditions within the Twin Cities metropolitan area helps those working in community development to identify the challenges and issues that face the region. With an improved knowledge and understanding of these issues, the Twin Cities community can target its efforts on strategies that enhance livability for all of its residents.
