Meet the Entrepreneurs Creating an Arts and Culture-Based Economy in Post-Coal Appalachia

Last November, voters in Kentucky expressed confidence that President Trump could deliver on his promise to revive the coal industry, and he carried the state with 62 percent of votes. But in the heart of Appalachia, there's a strong network of businesses and nonprofits that are looking beyond coal, and embracing equity-focused regional economic development for marginalized communities — creating employment opportunities in technology and innovation, and arts and culture, as even more promising growth industries for the region. 

In rural Letcher County, Kentucky — population 23,000 — just 12 percent of adults age 25 or older have a bachelor's degree, and 33 percent of residents live below the federal poverty level. But Letcher County is also home to creative entrepreneurs and artists working to cultivate a more equitable economy. "We're thinking about ways to move forward in a post-coal economy," said Jeremy McQueen, CEO and co-founder of Mountain Tech Media, which provides technology and digital design services out of its base in Whitesburg. "Companies like ours are really offering solutions for workers and communities that used to rely on coal to be able to participate in an economy that's thriving." 

The 12-person company provides a wide variety of branding, marketing, and strategizing services to both small and large businesses in the region, including video and audio productions, web design, app development, graphic design and illustration, and social media management. "I think we are helping folks in our region find the branding and the reach that they're looking for without trying to hire some ad agency in a larger city," which, as McQueen explained, "is usually out of their price range and out of their comfort zone as well." 

An upstart "doing cool things"

McQueen doesn't see Mountain Tech Media as the vehicle for Appalachia to skip-step its way to become the next Silicon Valley. He said that businesses in the region have basic, behind-the-times tech needs to be addressed. The company could work on just websites and promotional videos for the next five to 10 years and still not meet demand. But the goal of Mountain Tech Media is to empower local businesses to think beyond their existing horizons and to provide professional development opportunities for their workers. 

Mountain Tech Media has a worker cooperative model, giving team members equity in the company and involving them in the governance of the business. "I really was interested in the worker co-op model from the very beginning, but I had never heard of it done in a tech or a digital design company," said McQueen. "I think everyone involved now does not have a doubt that it was the right move. We've seen such a sense of pride and self-worth in all of our team members owning a piece of the company and making decisions about what we do next." 

So far, Mountain Tech Media has contracted with 34 organizations and contributed an estimated $200,000 to the regional economy through their work. Founded in 2015, it surpassed its first-year projections in just the first six months of 2016 and surpassed its three-year projections in the span of a single year. The group is well on its way to exceeding its projections for 2017. 

After being profiled in the New York Times, the organization was contacted by the City University of New York to work on a few projects. According to McQueen, "They wanted to get something out quick and decided to reach out to an upstart company like ours that was doing cool things in Appalachia." Nonprofit clients are quick to mention their relationships with Mountain Tech Media in grant applications, a sign that they see investments in their organizations as investments in Mountain Tech Media, and vice versa. 

The culture hub at the heart of Appalachia

Mountain Tech Media took shape and has grown with the help of Appalshop, a grassroots arts and culture organization based in Letcher County since 1969. In 2014, Appalshop's leadership partnered with Lafayette College's Economic Empowerment and Global Learning Project (EEGLP) and researchers from Imagining America: Artists and Scholars in Public Life (IA) to launch the pilot program for a national initiative for community revitalization and economic development based in creative placemaking and placekeeping. Through this partnership, Appalshop has formalized its role as the anchor of the Letcher County Culture Hub. In addition to Mountain Tech Media, several other projects radiate from Appalshop's core efforts: a radio station, a youth media institute, a theater company, a regional archive, a downtown retail association, and much more. In order to create a college-to-career pipeline of workers to fill the needs of startups like Mountain Tech Media, Appalshop has also started a tech and media certificate program in conjunction with Southeast Kentucky Community and Technical College.

For years, Appalshop has been training youth in media production and other community development initiatives, and now that pipeline can also connect young people in the region to employment opportunities with businesses like Mountain Tech Media. This summer, the company will employ four media interns to help produce "Upload Appalachia," a youth-driven film series about social entrepreneurship in the region.

"Appalshop is one of the largest cultural anchors in Appalachia and has produced a wealth of creative content over the last 50 years," said McQueen. "They incubated us as a company and gave us access to a lot of networks and resources and equipment. We were able to save a lot of overhead costs right away. We've had so many meetings and conversations with new partners who really dig what we are doing because we are affiliated with Appalshop." 

Cultivating an arts and culture-based economy

Peg & Awl Public House (formerly known as Village Trough) is a worker-owned local and organic food vendor and event production business based in Berea, Kentucky. "We have a mission to reconnect people with local food and local producers and hosting and encouraging community events," said co-founder and owner Ali Blair. Along with Berea Tourism, Peg & Awl Pub began sponsoring First Friday Berea in 2014, a monthly block party bringing together local artisans, food vendors, and musical acts to activate and revitalize the Old Town neighborhood. Peg & Awl's long-term goals include lifting up and connecting artists and small arts-and-culture-based businesses in the region and helping artists turn side incomes into sole incomes. 

Peg & Awl Pub was introduced to Mountain Tech Media as a fellow worker cooperative early on and contracted with them to produce merchandise — first for the food business, then for First Friday Berea. "The work that they're producing is really top-notch and kind of makes us feel like we have a leg up with them doing the design work for our tee shirts, posters, and marketing materials, which are really pieces of art," said Blair. "We want people to collect those things." 

This year, the Berea Arts Council won $25,000 from the Mortimer and Mimi Levitt Foundation to allow them to expand their programming to produce a 10-week music series, Levitt AMP Berea. Mountain Tech Media not only designed marketing pieces for the series and supported social media outreach, but also became a sponsor as a way to support local creative placemaking efforts. 

While there is plenty for supporters of an arts and culture-based Appalachian economy to celebrate right now, there are also looming threats on the horizon. "With a lot of federal arts funding facing budget cuts, I think there are a lot of people asking what we are going to do," said Blair. "What we see on a national level is definitely being reflected in our backyards." 

But Blair also maintained that no matter what locals might think is the best way to focus economic development efforts — reviving coal jobs versus teaching out-of-work miners computer skills or encouraging people to start their own small businesses — the solutions have to be homegrown. "We don't want to be reliant on other people coming in to fix our problems," she said. "There's a lot of pride in us trying to do that ourselves." 

"There are very differing opinions about what counts as positive economic growth," she continued. "A lot of people don't value art and think artists should get a 'real' job. We really feel that arts are absolutely needed to create thriving places for us to live and raise our families." 

To learn more about Appalshop's youth-focused job training, as well as other equity-focused arts and culture policies, check out "Creating Change through Arts, Culture, and Equitable Development: A Policy and Practice Primer," a new PolicyLink report highlighting how arts and culture strategies are being embraced to help create equitable communities of opportunity.

All-In Cities Update -- April 2017


Four months into 2017, leaders across the country are demonstrating the power of collaboration — aligning priorities, coordinating action, and sharing information and new ideas — to push back against attacks on equity and inclusion. We are honored to have partnered with so many inspiring advocates and leaders on many efforts so far, and are ready for the work ahead. Today’s update highlights our first convening; shares the discussion from our recent webinars on employment equity and fines & fees; and an upcoming webinar focused on housing opportunity.
 
#CitiesResist Webinar: Three Communities Implementing HUD’s Affirmatively Furthering Fair Housing Commitment
Join us on Thursday, April 20 from 10:00 a.m. - 11:30 p.m. PT/1:00 - 2:30 p.m. ET for the next webinar in our #CitiesResist series, produced in partnership with the Government Alliance on Racial Equity (GARE). HUD’s Affirmatively Furthering Fair Housing (AFFH) rule, released in 2015, is a critical equitable growth policy that provides spatial data and a planning process to ensure federal investments go towards ensuring all people can live in communities of opportunity — regardless of race/ethnicity, physical ability, or family status. Learn about the status of the policy from national expert Harriet Tregoning, who oversaw the implementation of the AFFH rule while at HUD, and hear from practitioners and advocates in Philadelphia, Kansas City, and Wilmington who have already implemented the AFFH rule. Register here to learn how you can use the AFFH rule to build a stronger, more inclusive city.

Washington, DC: All-In for Equity & Health
On March 7 and 8, All-In Cities leaders participated in a convening with fellows from our Ambassadors for Health Equity program, including Patrisse Khan-Cullors, Jeff Chang, and Denise G. Fairchild. Funded by the Robert Wood Johnson Foundation, the fellowship supports nationally recognized leaders as they work to promote a Culture of Health in their work. The convening began with a tour of the National Museum of African American History & Culture, and gave participants an opportunity to draw connections between equitable development and health; network with other leaders; and discuss the connections between health equity and their own work. The session also included a training on collective leadership and identifying strategies for broad scale change.
 
Webinar: Targeted Strategies to Reduce Employment Inequality
Despite low unemployment rates overall, workers of color continue to face high-levels of joblessness in many cities. In response, leaders in Minneapolis and New Orleans have developed targeted strategies to connect Black workers to good jobs in growing industries. On March 23, we discussed the findings of our recent analysis of employment inequality in metros (in partnership with the USC Program for Environmental and Regional Equity), and shared focused jobs strategies being implemented by the Northside Funders Group in Minneapolis and the Network for Economic Opportunity in New Orleans. Check out the archive of the webinar here.
 
Webinar: Ending the Debt Trap: Strategies to Stop the Overuse of Court-Imposed Fines, Fees, and Bail
On March 29, PolicyLink hosted a webinar discussion on the latest research and strategies state and local leaders can use to ensure that judicial fines and fees do not contribute to burdensome debt, housing and employment barriers, and increased imprisonment and recidivism for low-income communities and people of color. For several years, researchers have looked at the role of the justice system nationwide in placing low-income people and people of color into serious financial disrepair. While “debtors’ prisons” are technically outlawed, courts throughout the nation have used loopholes in the law to place people in jail for the nonpayment of fines and fees. Check out the archive of the webinar here.
 
Learn more about our All-In Cities initiative and sign up for updates at www.allincities.org.

 

Expanding Opportunity in City Contracts: St. Paul’s Racial Equity Strategy

When Rick Harris, owner of Ideal Commercial Interiors (ICI), moved to the Twin Cities seven years ago, he struggled to get the private sector contracts that had been his bread-and-butter during his three decades of business in California. 

"Coming here was totally different. I kept trying to get my foot in the door and instead would have it shut in my face," Harris said. ICI is certified by the North Central Minority Supplier Development Council and the Central Certification Program as a small, minority-owned business, but Harris noted that the greatest obstacle he faced was not discrimination, but inertia. 

"Businesses were not open to building relationships with new vendors. They preferred to maintain the same decades-long ties with people they knew and were familiar with — but that impedes access to the market," he said. "It’s bad for the economy when you have these small businesses that can’t grow because they’re consistently locked out of the market." 

For a city that struggles with staunch racial inequities in employment and poverty, these barriers to entry pose persistent challenges to the local economy. 

"The state says it wants to create more jobs for people of color, but to do that, you have to understand that minority-owned companies hire more employees of color, and so you have to focus on helping these companies grow," Harris said. 

That is precisely what the City of St. Paul is working to do. With the help of the city’s comprehensive efforts to foster racial equity in its municipal contracting, Harris has been able to fill the void of private sector work with city, county, and state contracts — which now make up 90 percent of his business.

According to David Gorski, a human rights specialist for the City of St. Paul, "The broader goal is to make the local economy more inclusive, to create a launching pad for small businesses," especially those owned by people of color and women.

Supporting entrepreneurs of color boosts local economies

St. Paul is a rapidly diversifying city; nearly half the city’s residents are people of color, and communities of color — especially Black communities — are leading population growth. But these communities continue to face persistent racial inequities in opportunity. Unemployment for people of color is 12.6 percent in the city, compared to 5.3 percent for Whites. For African Americans, unemployment skyrocketed from 9.6 percent in 2000 to 18.8 percent in 2014. Almost two in three people of color in the city are economically insecure — with family incomes below 200 percent of the federal poverty level — and one in five are working poor, struggling to make ends meet despite working full-time. 

In an attempt to combat these longstanding disparities, St. Paul launched its Racial Equity Initiative in 2014. This initiative includes numerous policy and practice reforms to make racial equity an explicit goal for the city — not only to foster inclusion and community justice, but as a necessary precondition for a prosperous, thriving local economy.

Connecting businesses owned by entrepreneurs of color to city contracts is a crucial lever in this work, because these firms represent key areas of growth in the local economy. Businesses owned by people of color in Minnesota are growing significantly faster than average, with 118 percent growth from 2002 to 2012, compared to 10.3 percent growth for all firms in the state. The number of small businesses owned by African Americans in the state grew by about 60 percent between 2007 and 2012, while small businesses owned by Whites declined 3.4 percent. Yet, many of these businesses are small and undercapitalized, with few employees.

Though the state government of Minnesota has recently received criticism for its inequitable procurement practices, St. Paul has been meeting and exceeding many of its racial equity goals. For example, the city aims to award at least 25 percent of public contracts to small businesses. Within that small business goal, the city sets further targets to reach 5 percent of firms owned by people of color, and 10 percent of women-owned firms. In 2016, more than 30 percent of the city’s total business went to small businesses, with 5 percent awarded to businesses owned by entrepreneurs of color and more than 12 percent awarded to businesses owned by women. 

St. Paul’s progress in upping contracting equity can be traced to concerted efforts to reform and innovate practices within the city’s Purchasing and Contract Compliance Divisions. This work began with the assistance of Bloomberg Philanthropies What Works Cities initiative, through which the Government Performance Lab at the Harvard Kennedy School helped the city better understand why it wasn’t adequately reaching small businesses and businesses of color. What they found mirrored the hurdles Harris noted in the private sector. 

"Vendors felt that we were closed off," said Jessica Brokaw, deputy director of procurement, contract compliance & business development for the city. "They felt we had preferred vendors and that was that." 

This led to a series of structural changes to the procurement process. The city rolled out a new online bidding platform that made the process more transparent and accessible, and ensured that any vendor could download bids free of charge. They also revised the language of bids — from PhD reading level to eighth grade reading level— so that most any vendor could understand them without an attorney.

Wherever possible, officials also streamlined certification processes. For example, a vendor can become registered as a minority-owned business enterprise (MBE), a woman-owned business enterprise (WBE), or a small business enterprise (SBE) through one-day Central Certification Program (CERT) community workshops that are hosted monthly. These certifications are recognized by Hennepin County, Ramsey County, Minneapolis, and St. Paul, making it easier for businesses to pursue public procurement and contracting work regionally. The increased community engagement is reflected in attendance at the annual procurement fair, hosted by the city’s Department of Human Rights and Equal Economic Opportunity. In 2017, 350 vendors showed up within the first three hours alone.

Perhaps most impressively, the city has made significant changes to open up public contracts to new businesses. Starting in 2014, the city has changed five-year agreements to yearly agreements whenever possible, and broken down larger projects into small subcontracts to increase opportunities for new and small businesses to bid. 

"We decided to not renew hundreds of master contracts — some of which we had held for 20 years," Brokaw said. "We got lots of pushback, because there were vendors who didn’t really have to compete for years upon years, and there were city departments who didn’t want to have to orient new vendors to how we operate." 

When the city opened up contracts to a more competitive market, however, "the city and the local economy benefited," Brokaw noted. "The bids are lower, so the city is saving several million dollars, and our relationship to the community is so much stronger because vendors can see that we are open to them." 

Bridging the public-private contract divide through mentorship

In addition to the structural and procedural changes noted above, one of the key facets of St. Paul’s efforts to promote small business growth among minority entrepreneurs is the Construction Partnering Program (CPP)

Founded by the city and administered through the Metropolitan Economic Development Association (MEDA) and the Association of Women Contractors, CPP supports emerging small businesses owned by women and people of color by fostering long-term partnerships between these firms and larger industry experts in the region.

In general, the odds can be stacked against small businesses trying to expand: They don’t always have access to the same product lines or discounts because they don’t buy in large enough quantities. They often lack access to the kind of financing necessary to purchase the kind of bonds that are required to insure projects or to cover their costs for the months it can take for contracts to pay out. 

"It creates a catch-22 because the financials limit the size of contracts a business can take," said Salah Tarraf, participant in the CERT and CPP programs and owner of Tarraf Construction, a general contractor operating in the Twin Cities for 17 years. "We have so many fantastic contractors of color who want to grow, but are held back because they can’t take larger projects." 

The city has stepped in to remove some of the financial barriers: city projects up to $100,000 no longer require bonds, so they are now more accessible to small contractors. Through CPP mentorship, however, the city also hopes to start bridging the gap between public and private work. 

Tarraf Construction has been partnered with McGough, a large general contractor headquartered in St. Paul, for the past 13 years. This relationship has allowed Tarraf to benefit from the insight and experience of the larger firm, and McGough has helped them break into the private market by inviting them to bid on subcontracts for their work and including them in negotiations as an "equal partner." 

Though it remains an "uphill battle" to get the private sector to work with small companies, Tarraf said he gives "a lot of credit to St. Paul. The city has been really supportive of the minority community, and I think it’s been a success." 

Stop the Abuse of Court-Imposed Fines and Fees

More than $50 billion in debt is currently being held by approximately 10 million people because of their involvement in the criminal justice system. Much of this debt is because low-income people simply do not have the money to pay fines and fees.

While “debtors’ prisons” are technically outlawed, courts and police departments have used loopholes within the law to place people in jail for the nonpayment of fines and fees. The practice, which targets the most vulnerable communities, plays an integral role in wealth and income inequality, and contributes to the growing racial wealth gap in our country.

But researchers around the country have shown that fees can be limited and debt collection practices can be managed in a way that does not prey on low-income communities. Policymakers can limit the use of fines and fees that directly contribute to burdensome debt, create barriers to housing and employment, and result in imprisonment and recidivism.

Ending the Debt Trap: Strategies to Stop the Abuse of Court-Imposed Fines and Fees, a new brief from PolicyLink, lifts up promising strategies that are being implemented across the country to ensure that judicial fines and fees do not contribute to burdensome debt for low-income communities and people of color. The brief looks at ways in which the use of fines and fees has expanded over time, the impact of these practices, and the inefficiency of these policies as a budget tool for local governments.

Banks’ Community Benefits Agreements Bring Billions in Community Reinvestment

Financial institutions have a long history of failing to meet the needs of low-income communities and communities of color — whether through discriminatory practices that strip wealth from neighborhoods of color or systematic disinvestment that has left too many struggling communities without access to affordable banking. 

Over the past few years, however, community advocates have been putting an established advocacy tool to new use to bring the voices and needs of underserved communities to the negotiating table with local banks. 

Community benefits agreements (CBAs) — contracts that have traditionally been used to ensure that local real estate development projects create opportunities for local workers and communities — are increasingly being applied to banks to increase access to financial services for disadvantaged communities. 

"Banks have an important role to play in our communities, and these community benefits agreements help ensure they fulfill that role for everyone, including low- and moderate-income communities and communities of color," said John Taylor, president and CEO of the National Community Reinvestment Coalition (NCRC), the driving force behind the recent proliferation of bank CBAs. In this incarnation of CBAs, banks team up with local community organizations to negotiate key services and resources targeted to communities traditionally underserved by banks. 

In 2016, NCRC worked with hundreds of local community organizations to negotiate three large merger-related CBAs with Huntington Bank, KeyBank, and Fifth Third Bank. Collectively, these three agreements will bring $62.6 billion in lending and investments targeted to low- and moderate-income communities and communities of color across 23 states. 

Reversing systematic disinvestment in low-income communities and communities of color 

Bank CBAs capitalize on the Community Reinvestment Act (CRA) — a longstanding federal policy designed to encourage banks to meet the needs of moderate- and low-income neighborhoods. The CRA was passed in 1977 in an attempt to combat redlining — a destructive and discriminatory lending practice that denied or severely restricted access to mortgages, credit, and other financial resources necessary to promote economic growth within communities of color. 

"The CRA has certain pressure points where communities have an opportunity to advocate for their needs," said Thomas Keily, consumer data and research coordinator at the Western New York Law Center, one of the grassroots NCRC members involved in the KeyBank CBA. Mergers, acquisitions, and CRA exams are intervention points where banks enter regulatory review and may be amenable to negotiations with community advocates. 

Because bank mergers often result in branch closings that cut jobs and can reduce access to banking in certain locations, the CRA encourages banks to commit resources to counteract negative community ramifications. Traditionally, however, banks have sought to meet their CRA requirements without ongoing engagement with community leaders. The recent spate of bank-merger CBAs represents an important departure from business as usual. 

Through a combination of in-person meetings, site visits, and conference calls, banks and representatives from several dozen community organizations negotiate the details of these agreements over the course of months. The resulting contracts include a wide range of commitments targeted to low-to-moderate income areas. 

For example, the hundred-plus community partners representing six cities that came to the table to negotiate the Huntington Bank CBA identified four key focus areas for investment: affordable housing, workforce development, small business development, and supportive services, including community needs not typically associated with financial products, such as social services. 

"The goal was to create a plan that was holistic and considered all the assets needed for a community to thrive and for individuals to reach their potential within that community," said Catherine Crosby, executive director of the City of Dayton's Human Relations Council, one of the organizations representing Dayton, Ohio, in the Huntington Bank negotiations. She is also a member of the NCRC board. 

The resulting community development plan committed $5.7 billion in funding for single-family mortgages in low- and moderate-income areas and to low- and moderate-income borrowers, $3.7 billion in community development lending and investment for affordable housing, $25 million in grants for housing and small business credit services, and 10 new branch locations in underserved areas, among other investments. As this plan is implemented at the local level, community advocates have the opportunity to specify particular service needs within their local areas, such as down-payment assistance, loan counseling, or diversity requirements in bank hiring. 

The CBA investments for KeyBank, announced in March 2016, contained similar measures, committing $16.5 billion in investments and lending over five years. The most recent CBA with Fifth Third Bancorp, announced in November 2016, represents the largest investment by a single bank in recent history — $30 billion invested across 10 states through 2020. 

"The impact of billions of dollars in community reinvestment that comes from bank agreements cannot be overstated — the resources have a real, tangible impact, creating jobs and expanding access to mortgages, small business lending, education opportunities, and access to other financial resources," Taylor said.

The changes these CBAs are intended to implement come at a crucial time for Fifth Third. Earlier this month, the Federal Reserve released an assessment of the bank's 2011-2013 operations that found evidence of discriminatory practices during that time. As a result, Fifth Third's CRA compliance rating was lowered to "needs to improve."

Leveraging CBAs for equitable growth 

Access to basic financial products and services — including bank accounts, mortgages, and retirement accounts — is a crucial component of building long-term financial security. Without these services, many families and individuals living paycheck to paycheck must turn to payday lenders and check-cashing centers that impose exorbitant interest rates and fees on those who can least afford it. According to a study conducted in California, payday lenders are nearly eight times as concentrated in primarily African American and Latino neighborhoods compared to White neighborhoods, draining nearly $247 million in fees from these communities each year. 

"In Buffalo, New York, we've seen a systematic flight of financial resources within low-income communities and communities of color, especially in the city's east side," said Keily. "East of Main Street there are seven bank branches, but to the west there are over 25, and we see huge racial disparities in who gets mortgages." 

On a community level, access to capital to purchase homes, start new businesses, or take on community development projects is a necessary ingredient for spurring economic growth, yet the majority of disinvested communities are still systematically underserved by the banks that could be providing these services. This persistent legacy of disinvestment perpetuates poverty and stymies the kind of growth that could revive local economies. 

Through the CBA negotiation process, however, communities have increased leverage to hold financial institutions accountable for providing them with the services and resources that will enable them to thrive. 

"This process gives community members back their voice and keeps their needs at the forefront of the process," said Keily. As part of negotiations with KeyBank, Western New York Law Center enlisted 100 residents to write about their experiences with financial institutions — testimonials that helped bring lived experience to the data and research presented during CBA meetings. The organization is also working to establish CBA agreements with smaller local banks and recently announced a $101.2 million agreement between the Northwest Savings Bank and Buffalo Niagara Community Reinvestment Coalition (BNCRC), a NCRC community-based coalition member. 

As these agreements become increasingly popular, more and more banks are recognizing the value of working in concert with community to increase services and facilities in underserved markets. 

"Some leaders of banks are stepping up and doing the work we also need to see from our political leadership — building collaborations between bank leaders, community group leaders like our members, and other stakeholders to ensure that communities have economic opportunity," Taylor said. 

Delivering community benefits through broad coalitions 

Negotiating the competing priorities of hundreds of community partners while attempting to influence large financial institutions that hold all the purse strings is no simple matter. 

"NCRC did yeoman's work to bring everyone together," said Crosby. "A negotiation with this many parties is a push-and-pull process, so you need to have people who are thinking of the highest and greatest good for the community — not just themselves or their particular organizations." 

But she felt the outcomes were well worth the laborious process. 

"Formerly, the Human Relations Council would meet with the CRA officers for the bank to negotiate community investments, but this process is far more comprehensive and more impactful," Crosby said. There is also a key level of accountability, because communities can report to CRA regulatory bodies if a bank fails to make good on the promises encoded in the CBA. 

Though it's too early in the implementation process to quantify the impact of these commitments, Crosby noted that the relationships formed and strengthened between the community partners that came together these past months have already been a huge win. Keily emphasized the power of the process for raising community awareness and empowerment. 

"This shows us — and the community — what's possible when their voices are heard," he said. "It will be an ongoing process to implement this locally, but we're committed to keeping community members at the forefront of this process." 

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