Message from the CEO
Over the past couple of years, our national economy has suffered dramatically which has exacerbated the continuing deteriorating conditions prevalent within local governments. Forces such as over-inflated housing markets, natural disasters, restrictive lending and shortfalls in financial resources have further contributed to the current economic decline. The concomitant occurrences associated with natural disasters have also caused many governments to alter existing priorities so that resources are available to support the immediate concerns of those impacted by the disaster. These myriad of factors have produced an apparent domino effect requiring local governments to make some detrimental decisions such as downsizing its labor force, redirecting and reallocating resources, cutting back governmental services and increasing taxes. The resultants have been increased unemployment, increased foreclosures, more stringent lending practices and an induced “fear factor.”
Many municipalities are searching for answers to their community challenges. Since local governments no longer have the luxury of the surplus financial resources, they are forced to identify other private and public resources that could benefit them. Many experts in the community development field have acknowledged that the success of the national economy is predicated on vibrant local economies. In order for our economies to recover, an infusion of resources from the state and/or federal governments may be necessary to induce and spur lending and development activities at the local levels.
In a sense of urgency and an effort to restore the vibrancy within local economies, the federal government has passed legislation such as the Housing and Economic Recovery Act of 2008 (HERA) and the American Recovery and Reinvestment Act of 2009 (ARRA). These pieces of legislation have provided local governments with funding to support economic development, housing and infrastructure activities. The Neighborhood Stabilization Program (NSP) which was created under HERA provided funding to support the purchase and rehabilitation of foreclosed properties in an effort to stabilize communities. This federal attempt to restore a sense of stability and normalcy to the states and local governments is a catalyst in assisting in the recuperation of the economy.
Our firm comprehensively works with local governments to access the available resources and provide professional services to assist in program design, implementation and compliance. We are committed to expediently assisting governments in identifying their local priorities and undertaking community development activities that will produce the quickest and greatest return on their investments. We understand that each community is different and face its own distinct set of challenges. Our goal to each community is to “provide practical solutions to its complex community challenges.” We do this by coupling the technical expertise of our professional staff with knowledge of local markets and processes which in turn allows us to provide optimal consultation to each of our clients.
We are excited to serve as your community and economic development experts. It is our goal to ensure a successful delivery of your programs, on time and within the prescribed budgets.