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- Foundation Communities' IDA: Five Years of Savings
- Melissa Garcia, Foundation Communities' IDA Director, Shares Best Practices
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 Compass Bank and Austin's Foundation Communities have partnered in an IDA program for the past five years. |
Foundation Communities' IDA: Five Years of Savings
In 1997 Foundation Communities in Austin, Texas, in partnership with Compass Bank, began offering Individual Development Accounts (IDAs) to residents of its affordable, multifamily housing developments. Today, the program has 137 IDA account holders, and participant savings and matched funds total more than $400,000. Of the 39 participants who have completed the program, 16 have used their IDA savings to purchase homes. Read more »
Melissa Garcia, Foundation Communities' IDA Director, Shares Best Practices
News & Events
- The IDA Network serves as a gateway to information
about IDA-related initiatives, issues and resources. Read more
- Learn more about Austin's Foundation Communities,
a nonprofit affordable housing developer and IDA sponsor. Read more
- On June 21, the Federal Reserve Board published
revisions to Regulation C, which implements the Home Mortgage Disclosure
Act. The amendments relate to thresholds for determining the loans
for which financial institutions must report loan pricing data, lien
status of applications and originated loans, and information monitoring
of telephone applicants. Compliance begins Jan. 1, 2003, for information
monitoring of telephone applicants and Jan. 1, 2004, for thresholds
and lien status. Read more
- Federal Reserve Board Vice Chairman Roger W. Ferguson
Jr.'s reflections on financial literacy. Read more
- Federal Reserve Board Governor Mark. W. Olson talks
about financing options for small businesses. Read more
- The Federal Reserve Bank of Dallas is hosting a
New Markets Tax Credit workshop in Dallas on July 23 and in El Paso
on July 24. Representatives from the CDFI Fund will provide an overview
of the NMTC program, including how to apply for a tax credit allocation.
Community development experts and bankers will discuss how the tax
credits can be used. Read more
- The Faith and Philanthropy Institute, in partnership
with the Dallas Affordable Housing Coalition, The Enterprise Foundation,
the Fannie Mae Foundation and others, is sponsoring the 2002 Moving
Beyond the Walls workshop on Sept. 10–13. The training is designed
to help develop critical management skills and strategic perspectives
to start, manage and grow a faith-based community development organization. Read more
- The Enterprise Foundation Network Conference will
be held in Dallas on Oct. 30–Nov. 2. The conference will feature
ways to find affordable-housing financing solutions, leverage the
New Markets Tax Credit, efficiently manage programs, put together
tax credit deals that work and more. The conference will also feature
The Enterprise Foundation's 20th Anniversary Gala Dinner on Oct.
31. Read more
- The Federal Reserve is sponsoring the conference "Banking
Opportunities in Indian Country" on Nov. 18–20 in Scottsdale, Ariz. This national conference is designed to encourage
initiatives and partnerships that increase access to credit and capital
and strengthen local economies. Read more