Next City

• The Quiet Engine for Affordable Housing in Red and Blue States

  The CDFI Fund is a proven driver of affordable housing in every state—red and blue alike. But now, this vital source of financing is at risk of federal cuts. In this episode, we highlight a project in Nashville, Tennessee, made possible by BlueHub Capital, a community development financial institution based in Massachusetts.In today's episode, we speak to Oscar Perry Abello, the author of "The Banks We Deserve," and with Karen Kelleher, president of the BlueHub Loan Fund, which recently helped finance a project in Nashville that converted two abandoned motels into affordable studio apartments. It's just one example of how community development financial institutions (or CDFIs) step in all overt the country, in red states and blue states, where big banks usually won’t.It's also the sort of project that would be harder to finance if the Trump administration gets its wish to eliminate the CDFI Fund, the federal grant program that helps fund and support more than 1,400 CDFIs around the country. (Read our analysis of Trump's executive order on the CDFI Fund and what it means.) “The market is profit-driven and, to be honest, it's expensive to build housing,” says Kelleher, whose team makes about 30 loans a year to fund innovative projects like the adaptive reuse project in Tennessee. “The kinds of deals that we support…don't often pencil out without subsidy. That might be tax credits, it might be grants, it might be state funds, it might be local funds.”Making the math work can lead to transactions that are complex, risky – and unpalatable for many market-rate lenders. That's where CDFIs come in.“We and other mission-driven lenders and CDFIs really make it our business to understand those tools, those models,” Kelleher says. “We find ways to structure our financing so we can take risks and be at the table with the community or the developer who's trying to make something happen that the market won't make happen.”

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• What Happens When Wildfire Relief Inspires Too Many Donations

  When wildfires hit Los Angeles in January, people did what they always do in a crisis: They stepped in to help. And many of them donated clothes. Lots and lots of clothes. Volunteers were quickly overwhelmed as bags of clothes began piling up at relief centers.“What happens is the help that's being offered actually clogs the ability for those cities and the community to help, because it's a mismatch of what the community and the city needs versus what's being offered,” says chief strategy officer Annie Gullingsrud at Trashie, an organization that worked to recirculate those donations and keep them from the landfill. “When these things happen, we just need to know that what we're offering is actual, informed help—not just perceived wishful thinking.”As donation centers struggled to handle tens of thousands of pounds of clothing, sustainable fashion initiatives and recyclers stepped up. Their initiatives are part of a larger effort to ensure that reusable and recyclable clothing doesn't end up in landfills.You can also read our Equitable Cities Reporting Fellow Maylin Tu's original Next City article on textile waste recycling after the L.A. wildfires here.

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• Spring Break

  We’re off this week for our Spring Break, but we’ll be back next Wednesday with more inspiring and workable ideas that move our society toward justice and equity. If you can’t wait for the next story, head to NextCity.org for the latest coverage. As always, we’d love to hear any feedback from our listeners. Please feel free to email us at [email protected]. And if you haven’t already, subscribe to the show on Apple, Spotify, Goodpods or anywhere you listen to your podcasts. We’ll see you next week.

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• The First Draft of Pandemic History

  Five years after the start of the COVID pandemic, we revisit journals from the nurses who lived through it. The stories are part of a first draft of history being remembered by the official Manhattan Borough Historian in his new book on New York’s essential workers, “When the City Stopped: Stories from New York's Essential Workers.” 

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• In Conversation with the Former NEA Chair on What’s Next for the Arts

  Dr. Maria Rosario Jackson is the former chair of the National Endowment for the Arts, having resigned when President Trump took office. She talks about how the arts are shaping urban policy, including by “healing, bridging and thriving” in communities. 

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