When a community needs to reinvent itself, who funds the transformation? Are the established tools— municipal bonds, CDFIs, and foundations among them— working in the new era of lean urbanism? Learn about innovative financing mechanisms— like social impact bonds and crowdfunding— that can help drive civic innovation at scale.
Jase Wilson, Neighbor.ly
Watch the video online: https://www.youtube.com/watch?v=F6roHOXEjtc&list=PL65XgbSILalVoej11T95Tc7D7-F1PdwHq&index=6
Get involved with Code for America: http://www.codeforamerica.org/action
4. PROBLEM: HIGH FEES
4
“Peter Coffin, a municipal bond
manager for wealthy individuals
said it is about time the muni
market got an overhaul.”
5. PROBLEM: BANKS NO LONGER IN COMMUNITY
1990 2010
TRAVELERS GROUP
5
CITIGROUP
CITIGROUP
CITICORP
EUROPEAN AMERICAN BANK
BANAMEX
WASHINGTON MUTUAL
GREAT WESTERN FINANCIAL
H.F. AHMANSON
DIME BANCORP
FIRST CHICAGO
BANC ONE
FIRST COMMERCE
JP MORGAN
CHASE MANHATTAN
CHASE MANHATTAN
CHEMICAL BANKING
BEAR STEARNS
US TRUST
MBNA
CONTINENTAL BANK
BANKAMERICA
BANK OF AMERICA
BANK OF AMERICA
FLEETBOSTON FINANCIAL
SECURITY PACIFIC BANCORP
NATIONSBANK
FLEET FINANCIAL GROUP
BANCBOSTON HOLDINGS
BANKBOSTON
SUMMIT BANCORP
BAYBANKS
SUMMIT BANCORP
UJB FINANCIAL
COUNTRYWIDE FINANCIAL
MERRILL LYNCH
WELLS FARGO
WELLS FARGO
WELLS FARGO
WACHOVIA
WACHOVIA
WACHOVIA
WELLS FARGO
FIRST UNION
FIRST INTERSTATE BANCORP
NORTHWEST HOLDING COMPANY
SOUTHTRUST
WACHOVIA
CENTRAL FIDELITY NATIONAL BANK
CORESTATES FINANCIAL
FIRST UNION
THE MONEY STORE
WASHINGTON MUTUAL
WASHINGTON MUTUAL
BANK ONE
JP MORGAN CHASE
JP MORGAN CHASE
6. PROBLEM
6
$
ISSUING
COMMUNITY
UNDERWRITING
BANK
MUTUAL
FUND
INVESTMENT
ADVISOR
INDIVIDUAL
INVESTOR
+ SPREAD + MGMT FEES + COMMISSION
9. SOLUTION: INVESTMENT MARKETPLACE
9
Wi n !
Wi n !
Wi n !
!
COMMUNITIES
! CREATE
JOBS
!
INVESTORS
! EARN $$$
& PERKS
!
ISSUERS
! GET MORE
$$$
Wi n !
!
CITIZENS
!ENJOY NEW
AMENITIES
10. 10
People buy more bonds every
week than Kickstarter has
raised in its entire history