| US Community Reinvestment
Deutsche Bank uses its capabilities as a global investment
bank to create economic opportunities in distressed communities.
Although Deutsche Bank has no retail branches in the Americas,
the Bank's Community Development Finance Group (CDFG) has
developed effective strategies for bringing capital to under-resourced
areas.
Through its $350 million portfolio of community development
loans and investments, the Bank helps to finance quality affordable
housing, homeownership opportunities, new business development,
and support services such as child care and employment training.
Deutsche Bank’s approach is innovative and collaborative.
CDFG relies on a network of nonprofit organizations and community
development intermediaries to achieve results, and actively
seeks to partner with philanthropic, government and private
sector institutions in its work. Through the Deutsche Bank
Americas Foundation, the Bank complements its community development
lending and investing activities by making grants to build
the capacity of nonprofit partners.
New York City is the primary focus of the Community Development
Finance Group's activities, but national initiatives are considered
as well. The Bank has consistently earned "outstanding"
Community Reinvestment Act (CRA) ratings for its role in providing
capital to low- and moderate-income communities.
|
Development Group
Development
of quality affordable housing has been the catalyst for neighborhood
revitalization throughout the U.S. As such, helping to create
and preserve the affordable housing stock in New York City and
other communities, remains a cornerstone of CDFG’s work.
Through investments in Low Income Housing Tax Credits and double-bottomline
housing funds, the Bank provides equity capital for affordable
housing development. In addition, Deutsche Bank works with intermediaries
and other financial institutions to extend credit for predevelopment,
property acquisition and construction financing. The Bank was
an early leader in the formation of the New York City Acquisition
Fund, an innovative $200 million lending partnership involving
foundations, banks and nonprofit intermediaries. The Fund is
expected to create or preserve as many as 30,000 units of affordable
housing in the City.
The
transformation of distressed neighborhoods into fully viable
communities requires economic as well as physical development.
Deutsche Bank focuses on local business ownership and investment
in enterprises that offer the greatest promise of economic impact
for communities. As an investor in The Retail Initiative, SJF
Ventures, New York Community Investment Company, New York City
Investment Fund and other double-bottomline economic development
funds, the Bank provides much needed equity capital to businesses
operating in low- and moderate-income communities and providing
job opportunities for residents of these communities.
Deutsche
Bank relies on an impressive cadre of intermediary nonprofit
organizations with proven capacity to reach the most underserved
markets in the United States. Each of these intermediaries has
a keen knowledge of its client base and can redeploy Deutsche
Bank capital in retail loans to individual and local institutional
consumers. Many of these intermediary organizations operate
in advance of conventional lenders and play an important role
in proving the viability of new markets. Long-standing relationships
with intermediaries like Local Initiatives Support Corporation,
Enterprise Community Partners, Community Preservation Corporation,
Neighborhood Housing Services, Low Income Investment Fund, ACCION
New York, Housing Partnership Network, Community Reinvestment
Fund and Community Development Trust have enabled Deutsche Bank
to reach into communities with capital that would otherwise
be unavailable.
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