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Journal Article
The Community Reinvestment Act: a growing tool for brownfield redevelopment
It is no accident that financial institutions in the Fourth Federal Reserve District are taking a more active role in financing the redevelopment of former industrial sites, known as brownfields. Increasing demand for vacant urban land, high suburban real estate costs, concerns about sprawl, and private-market incentives are encouraging greater financial institution participation in brownfield developments. Until recently, government-funded programs drove brownfield redevelopment. That changed in 1995, when the Community Reinvestment Act was overhauled, transforming the way financial ...