In the latest edition of the Boston Federal Reserve's publication, Community and Banking, the lead article written by Joe Vaughn describes a LISC-initiated project in two cities in Rhode Island--Olneyville and Woonsocket-- that moved community development investing to a new level. In what is now a fairly widely accepted view that community development does not begin and end with housing, LISC has launched efforts here and in other cities to have a more holistic view called the New Communities model. It has five major tenets: 1) expand investment in housing and other real estate; 2) increase family income and wealth; 3) stimulate economic activity locally and regionally; 4) improve access to education of all varieties; and 5) foster livable safe, and environmentally sound environments.
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