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RI Center for Justice
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Latino Policy Institute
Boston– October 30, 2017 – Santander US CEO Scott Powell today announced Santander’s “Inclusive Communities” plan, Santander Bank’s new $11 billion, agreement with the National Community Reinvestment Coalition (NCRC) to increase lending, community development, and charitable giving. The plan outlines Santander’s commitment to communities across its eight-state northeastern U.S. footprint for 2017 through 2021, during which time Santander will increase its Community Reinvestment Act (CRA) activity by 50 percent and triple its investment in charitable grants.
Over the next five years, Santander will provide:
- $4.2 billion in residential mortgage loans for low- to moderate income families
- $1.9 billion in small business lending
- $3 billion in community development lending
“This plan is the foundation of Santander’s approach to supporting the communities where we live and work,” said Powell, CEO of Santander US, the Bank’s U.S. holding company. “We recognize that Santander’s success is directly linked to the prosperity of our communities’ families, businesses and neighborhoods. By increasing lending, investments and financial education opportunities, we hope to boost the long-term economic success of low- and moderate-income individuals and neighborhoods.”
Powell announced “Inclusive Communities” at a meeting this morning in downtown Boston where he was joined by officials from the City of Boston, other public officials, and National Community Reinvestment Coalition (NCRC) President and CEO John Taylor.
"This is a good day for people in New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania, Delaware and my home state of Massachusetts,” said John Taylor, NCRC President and CEO. I want to applaud Santander for committing 11 billion in investments for underserved neighborhoods over the next five years. Santander’s leadership showed a special dedication to working with community leaders and better understanding the credit needs in the areas they serve. We are very pleased that this commitment, and especially the 10 new bank branches, will help individuals build wealth and neighborhoods build their economies."
“Inclusive Communities” was developed with significant input from and collaboration with more than 100 community-based organizations throughout the Bank’s footprint. Supported and facilitated by the NCRC, an extensive ten-month long process helped identify emerging community needs and strategies aimed at addressing the challenges faced by underserved communities in Santander’s key markets.
Read a in depth summary of Santander's "Inclusive Communities" agreement here
In addition to the Bank’s financial commitments, Santander is establishing a national Community Advisory Board (CAB) comprising representatives of not-for-profit community development organizations and financial inclusion advocates, as well as community development policy organizations, and representatives of local or state economic development or housing agencies. Members of the CAB are:
The Bank is also establishing statewide/regional advisory boards in its footprint to ensure ongoing community input and will be enhancing its current Community Development and CRA teams with the addition of 17 new positions in the coming years.
Local leaders applaud the agreement:
"ANHD applauds Santander for creating this new CRA plan. They listened to over 100 community based organizations to create a plan that is reflective of community needs throughout the bank's footprint, including New York City. We also appreciate the creation of national and regional community advisory boards, which put the structure in place to implement, monitor, and adjust the plan to ensure it has the greatest impact. We look forward to working with the bank to put this plan into action,” Benjamin Dulchin, Executive Director, Association for Neighborhood and Housing Development.
“New Jersey Citizen Action has had a longtime partnership with Santander Bank and its predecessor, Sovereign Bank. The bank's $11 billion commitment in mortgages, small business loans and community development lending will provide loans, access to capital and affordable housing for thousands of New Jerseyeans. I look forward to serving on the bank's National Community Advisory Board and working with Santander to ensuring that these dollars are reinvested in our communities,” Phyllis Salowe-Kaye, Executive Director, New Jersey Citizen Action.
“The effort behind this plan will ensure that those who live and operate businesses in developing neighborhoods can benefit, including immigrants and communities of color,” John Chin, Executive Director, Philadelphia Chinatown Development Corporation.
“As a leading Center for Independent Living for People with Disabilities in the greater Philadelphia Area, we applaud Santander's commitment to the community and our desire to increase affordable and accessible housing opportunities for the many Seniors and People with Disabilities who we serve throughout the region,” Thomas H. Earle, Esquire, Chief Executive Officer, Liberty Resources, Inc.
"Santander has had a long and impactful presence in the Greater Reading community. We look forward to continue working with Santander Bank and its team members in implementing this comprehensive plan, particularly in downtown Reading, where they have a large workforce and occupy almost 1/4 million sf of office space, in addition to having its name on the Santander Arena & the Santander Performing Arts Center," Edward Swoyer, President, Greater Berks Development Fund.
“This is an exciting and groundbreaking agreement that will improve our communities and transform lives. It demonstrates that banks and the communities they serve can thrive together when they work together. We congratulate Santander, NCRC, and the dozens of community based groups who worked so hard to make this happen,” Joseph Kriesberg, President & CEO, Mass. Association of Community Development Corporations.
“We believe this agreement with Santander Bank will go a long way in helping LMI communities in Waterbury CT. It provides a framework and capital for the hard-working people of the Northend section of town to rebuild a vibrant community,” Pastor Rodney Wade, President, Concerned Black Clergy Council of Waterbury.
“The Community Reinvestment Act is an important tool that empowers people in many ways. For example, the act can be used to conduct community development. As far as I am concerned, it protects LMI communities from senseless crime and violence,” Angela Mciver, Chief Executive Officer, Fair Husing Rights Center in Southeastern Pensylvania.
“This was a unique opportunity to work with fellow community organizations to determine priority needs and where we want Santander to direct their resources to help address those needs. It was also an opportunity for Santander to gain a better understanding of their community responsibility and measures needed to implement in the future. Represented organizations put a great deal of time and care into this process to ensure fairness and optimize outcomes for the communities we serve,” Majeedah Rashid, Chief Operating Officer, Nicetown Community Development Corporation.
"MAHA looks forward to continuing our partnership with Santander in reaching low- and moderate-income first-time homebuyers as we both seek to close the large racial wealth gap in Massachusetts", Symone Crawford, board president, Massachusetts Affordable Housing Alliance.
"Obviously, Home Ownership is the foundation upon which strong, thriving communities are based. We welcome the proactive steps being taken by Santander and we look forward to many years of success. Together, we can be the change that our communities need - one house at a time, one block at a time, one neighborhood at a time..." Stephen T. Gieringer, Executive Director, Neighborhood Housing Services of Greater Berks, Inc.
Partners in the Community Benefits Agreement:
Santander Bank, N.A. is one of the country’s largest retail and commercial banks with more than $79 billion in assets. With its corporate offices in Boston, the Bank’s 9,700 employees, more than 650 branches, 2,100 ATMs and 2.1 million customers are principally located in Massachusetts, New Hampshire, Connecticut, Rhode Island, New York, New Jersey, Pennsylvania and Delaware. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) - one of the most respected banking groups in the world with more than 125 million customers in the U.S., Europe, and Latin America. It is managed by Santander Holdings USA, Inc., Banco Santander’s intermediate holding company in the U.S. For more information on Santander Bank, please visit www.santanderbank.com.
Santander Holdings USA, Inc. (SHUSA) is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) (Santander), one of the most respected banking groups in the world with more than 125 million customers in the U.K., Europe, Latin America and the U.S. As the intermediate holding company for Santander’s U.S. businesses, SHUSA includes six financial companies with more than 17,500 employees, 5.2 million customers and assets of over $135 billion. These include Santander Bank, N.A., one of the country’s largest retail and commercial banks by deposits; Santander ConsumerUSA Holdings, Inc. (NYSE: SC), an auto finance and consumer lending company; Banco Santander International of Miami; Banco Santander Puerto Rico;Santander Securities LLC of Boston; and Santander Investment Securities Inc. of New York.
“Every Rhode Islander, in every ZIP code, should have the opportunity to live the healthiest life possible, in the healthiest community possible,” said Alexander-Scott. “A key feature of our Health Equity Zone initiative is that it puts the community’s voice front and center, since residents understand the challenges facing their communities the best. Public health leaders across the country are highlighting Health Equity Zones as a national model and a novel approach to funding and delivering public health services by building leadership capacity and effective coordination of communities to sustain long-term system and policy improvements. We are thrilled to expand this opportunity to additional communities here in Rhode Island.”
To view the complete article, visit GoLocal Prov
Courtesy of GoLocal Prov
A NEA-PRRAC Report (April 2019).
Excerpt: “Housing and land use policies have a significant effect on schools, and since these policies are usually decided at the state and local level, educators and education advocates have the opportunity to play a significant role.”
Read the Report…
Courtesy of PRRAC
October 4, 2018 | Posted By: Tiffany Manuel
As Enterprise celebrates the one-year anniversary of Opportunity360, we are energized by the momentum that the platform has created, and we are reminded of the reasons we initiated this work.
Since our launch in September 2017, we have had well over 100,000 visitors make use of our data, take advantage of the resources on the website and sign-up for our newsletters. We are delighted that so many people have found this resource important to their work and useful to their efforts to improve communities. We are also happy to see the sheer diversity of people logging onto the site and using the resources to further community building – from educators, to philanthropy, to transportation, health, workforce development, investors and so on. And we are starting to see what we originally envisioned for Opportunity360 actually happen – the resources in the platform has shaped, kick-started or transformed conversations about what opportunity is, how it can be measured and how we all benefit when we work to improve pathways to it.
Opportunity360 was created based on the radical proposition that we needed a new more comprehensive way to think about opportunity and a way to move beyond the notion that accessing opportunity is merely a question of one’s hard work, level of perseverance or grit. We know that for many Americans, the roads or pathways to opportunity, remain blocked. And while we know that affordable housing is one pathway to opportunity, we also recognize that there are others – like education, jobs, good schools, transportation and others.
So, we created Opportunity360 with the clear understanding that we wanted to change the narrative. Access to opportunity is not simply about individual choices or even just about housing. Our approach, Opportunity360, recognizes that people’s outcomes are the product of a multi-layered set of factors that operate at the individual, home, neighborhood and systems/policy levels.
In addition, we knew that we need to move away from conventional assumptions that opportunity is an all or nothing proposition. From our vantage point, the relevant question is not does this place have opportunity? That question invites a yes or no response and it misses the reality that even in wealthy, so called “opportunity rich” places, that many people are left out - having little to no access to the opportunity pathways in those places (living wage jobs, decent housing, transit access and more).
Opportunity360 is built on a more nuanced assessment – different places may offer different types of opportunity pathways, but every place offers some. Our task is to measure what opportunities exist in a place and to help communities think constructively about how to leverage those existing pathways and to create or widen those pathways that are not functioning to advance better outcomes for low- and moderate-income residents.
So, the more relevant question taken up by Opportunity360 is: what kinds of opportunity pathways exist in this place and for whom are those pathways providing access to a better life? When asked in this way, it can direct community stakeholders to think about the kinds of pathways that could be created, opened up or reinforced in order to improve the lives of all of the people who live there.
Opportunity360 is dedicated to helping communities begin to unpack these issues. It is inherently built around the idea that change is possible, necessary and worthwhile. It is part of a broader, ambitious effort at Enterprise to change the way that people all over the country are mobilized to open up pathways to the American dream. As we celebrate the one-year anniversary of the Opportunity360 launch, take a moment to think about how you can use the resources in the platform to push, accelerate or scale systems change efforts to improve opportunity for the millions of Americans whose access today remains blocked.
Courtesy of Enterprise
Posted Apr 20, 2018 at 12:01 AM
Updated Apr 20, 2018 at 12:02 AM
PROVIDENCE, R.I. — Rhode Island’s four-year high school graduation rates improved slightly over last year’s figures but substantial gaps remain between white students and students of color as well as between poor students and their middle-class peers.
The R.I. Department of Education reported that, overall, 84.1 percent of the Class of 2017 graduated, a 1.3-point increase over last year.
While rates increased incrementally for black students, students learning English saw a drop in graduation rates, down by 1.4 points.
To view the complete article, visit Providence Journal
Courtesy of Providence Journal
ESTABLISHING THE WHITE HOUSE OPPORTUNITY AND REVITALIZATION COUNCIL
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows:
Section 1. Purpose. Fifty-two million Americans live in economically distressed communities. Despite the growing national economy, these communities are plagued by high poverty levels, failing schools, and a scarcity of jobs. In December 2017, I signed into law a bill originally introduced as the Tax Cuts and Jobs Act (Act), which established a historic new Federal tax incentive that promotes long-term equity investments in low-income communities designated as “qualified opportunity zones” by the Governors of States or territories. In order to further facilitate such investment, my Administration will implement reforms that streamline existing regulations, protect taxpayers by optimizing use of Federal resources, stimulate economic opportunity and mobility, encourage entrepreneurship, expand quality educational opportunities, develop and rehabilitate quality housing stock, promote workforce development, and promote safety and prevent crime in urban and economically distressed communities.
This order establishes a White House Council to carry out my Administration’s plan to encourage public and private investment in urban and economically distressed areas, including qualified opportunity zones. The Council shall lead joint efforts across executive departments and agencies (agencies) to engage with State, local, and tribal governments to find ways to better use public funds to revitalize urban and economically distressed communities.
Sec. 2. Establishment. There is established a White House Opportunity and Revitalization Council (Council). The Council shall be chaired by the Secretary of Housing and Urban Development (HUD), or the Secretary’s designee. The Assistant to the President for Domestic Policy, or the designee of the Assistant to the President for Domestic Policy, shall serve as Vice Chair of the Council.
(a) Membership. In addition to the Chair and Vice Chair, the Council shall consist of the following members, or their designees:
(i) the Secretary of the Treasury;
(ii) the Attorney General;
(iii) the Secretary of the Interior;
(iv) the Secretary of Agriculture;
(v) the Secretary of Commerce;
(vi) the Secretary of Labor;
(vii) the Secretary of Health and Human Services;
(viii) the Secretary of Transportation;
(ix) the Secretary of Energy;
(x) the Secretary of Education;
(xi) the Administrator of the Environmental Protection Agency;
(xii) the Director of the Office of Management and Budget;
(xiii) the Administrator of the Small Business Administration;
(xiv) the Assistant to the President for Economic Policy;
(xv) the Chairman of the Council of Economic Advisers;
(xvi) the Chairman of the Council on Environmental Quality; and
(xvii) the heads of such other agencies, offices, or independent regulatory agencies as the Chair may, from time to time, designate or invite.
(b) Administration. The Vice Chair shall convene regular meetings of the Council, determine its agenda, and direct its work, all under the guidance of the Chair. The Department of Housing and Urban Development shall provide funding and administrative support for the Council to the extent permitted by law and within existing appropriations. The Secretary of HUD shall designate a HUD officer or employee to serve as the Executive Director of the Council, who shall be responsible for coordinating the Council’s work.
Sec. 3. Mission and Function of the Council. The Council shall, to the extent permitted by law, work across agencies, giving consideration to existing agency initiatives, to:
(a) assess the actions each agency can take under existing authorities to prioritize or focus Federal investments and programs on urban and economically distressed communities, including qualified opportunity zones;
(b) assess the actions each agency can take under existing authorities to minimize all regulatory and administrative costs and burdens that discourage public and private investment in urban and economically distressed communities, including qualified opportunity zones;
(c) regularly consult with officials from State, local, and tribal governments and individuals from the private sector to solicit feedback on how best to stimulate the economic development of urban and economically distressed areas, including qualified opportunity zones;
(d) coordinate Federal interagency efforts to help ensure that private and public stakeholders — such as investors; business owners; institutions of higher education (including Historically Black Colleges and Universities, as defined by 50 U.S.C. 3224(g)(2), and tribally controlled colleges and universities, as defined by 25 U.S.C. 1801(a)(4)); K–12 education providers; early care and education providers; human services agencies; State, local, and tribal leaders; public housing agencies; non-profit organizations; and economic development organizations — can successfully develop strategies for economic growth and revitalization;
(e) recommend policies that would:
(i) reduce and streamline regulatory and administrative burdens, including burdens on applicants applying for multiple Federal assistance awards;
(ii) help community-based applicants, including recipients of investments from qualified opportunity funds, identify and apply for relevant Federal resources; and
(iii) make it easier for recipients to receive and manage multiple types of public and private investments, including by aligning certain program requirements;
(f) evaluate the following:
(i) whether and how agencies can prioritize support for urban and economically distressed areas, including qualified opportunity zones, in their grants, financing, and other assistance;
(ii) appropriate methods for Federal cooperation with and support for States, localities, and tribes that are innovatively and strategically facilitating economic growth and inclusion in urban and economically distressed communities, including qualified opportunity zones, consistent with preserving State, local, and tribal control;
(iii) whether and how to develop an integrated web based tool through which entrepreneurs, investors, and other stakeholders can see the full range of applicable Federal financing programs and incentives available to projects located in urban and economically distressed areas, including qualified opportunity zones;
(iv) whether and how to consider urban and economically distressed areas, including qualified opportunity zones, as possible locations for Federal buildings, through consultation with the General Services Administration;
(v) whether and how Federal technical assistance, planning, financing tools, and implementation strategies can be coordinated across agencies to assist communities in addressing economic problems, engaging in comprehensive planning, and advancing regional collaboration; and
(vi) what data, metrics, and methodologies can be used to measure the effectiveness of public and private investments in urban and economically distressed communities, including qualified opportunity zones.
Sec. 4. Reports. The Assistant to the President for Domestic Policy shall, on behalf of the Council, be responsible for submitting to the President:
(a) Within 90 days of the date of this order, a detailed work plan for how, and by when, the Council will accomplish the goals detailed in section 3 of this order;
(b) Within 210 days of the date of this order, a list of recommended changes to Federal statutes, regulations, policies, and programs that would encourage public and private investment in urban and economically distressed communities, including qualified opportunity zones;
(c) Within 1 year of the date of this order, a list of recommended changes to Federal statutes, regulations, policies, and programs that would help State, local, and tribal governments to better identify, use, and administer Federal resources in urban and economically distressed communities, including qualified opportunity zones;
(d) Within 1 year of the date of this order, a list of best practices that could be integrated into public and private investments in urban and economically distressed communities, including qualified opportunity zones, in order to increase economic growth, encourage new business formation, and revitalize communities; and
(e) Any subsequent reports that the President may request or that the Council may deem appropriate.
Sec. 5. Amendments to Executive Order 13845. Executive Order 13845 of July 19, 2018 (Establishing the President’s National Council for the American Worker) is hereby amended as follows:
(a) Subsection 7(d) of the order is deleted and the following text is inserted in lieu thereof: “consider the recommendations of the American Workforce Policy Advisory Board (Board) established in section 8 of this order and, as appropriate, adopt recommendations that would significantly advance the objectives of the Council;”; and
(b) Subsection 8(b)(i) of the order is amended by deleting the text “appointed by the President” and replacing it with the following text: “appointed by the Secretary of Commerce”.
Sec. 6. General Provisions. (a) The heads of agencies shall assist and provide information to the Council, consistent with applicable law, as may be necessary for the Council to carry out its functions.
(b) The heads of agencies shall consider the reports and recommendations of the Council in carrying out their responsibilities related to urban and economically distressed communities.
(c) The Council shall terminate on January 21, 2021, unless extended by the President.
(d) Nothing in this order shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department, agency, or the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals.
(e) This order shall be implemented consistent with applicable law and subject to the availability of appropriations.
(f) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
DONALD J. TRUMP
THE WHITE HOUSE,
December 12, 2018
Courtesy of The White House
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