| Part I: Course Introduction |
| 1 |
Course Overview
Definition of Economic Development
Role of Finance in Economic Development |
Seidman. Chapter 1, pp. 3-7. |
| Part II: Business Financing |
| 2 |
Business Finance Needs
Business Financing Instruments |
Seidman. Chapter 2.
Berger, and Udell. "The Economics of Small Business Finance." Journal of Banking and Finance 22 (1998): 613-673. |
| 3 |
Analyzing Finance Needs I: Introduction to Accounting
and Financial Statements |
Seidman. Chapter 3.
Optional
 Anthony, Hawkins, and Merchant. Accounting: Text and Cases. Boston, MA: McGraw Hill, 2004, pp. 25-44, 51-74. ISBN: 0072819502. |
| 4 |
Analyzing Finance Needs II: Evaluating Firms for Financing
Financial Statement Analysis |
Seidman. Chapter 4. |
| 5 |
Working Capital Finance |
Seidman. Chapter 5. |
| 6 |
Fixed Asset Financing |
Seidman. Chapter 6, pp. 111-123.
———. "Cambridge Biotechnology Corporation Fixed Asset Financing Case Study." Unpublished Case Study. Cambridge, MA. |
| 7 |
Real Estate Financing |
Seidman. Chapter 7. |
| 8 |
Analyzing Business Financing Needs III |
Seidman. Chapter 6, pp. 123-132. |
| Part III: Program Models and Federal Resources |
| 9 |
Introduction to Capital Markets, Capital Market Imperfections and Financing Gaps |
Seidman. Chapter 1, pp. 7-19.
Yago, Zeidman, and Schmidt. Creating Capital, Jobs and Wealth in Emerging Domestic Markets. Milken Institute Research Report. Santa Monica, CA, 2003, pp. 1-18. |
| 10 |
Private Market Interventions I: Guarantees and Credit Enhancement |
Seidman. Chapter 8. |
| 11 |
Private Market Interventions II: Community Reinvestment Act, Bank CDCs |
Seidman. Chapter 9, pp. 184-205.
Immergluck, and Weinstein. "Mellon Bank Profile." In Small Business Lending for Economic Development. Vol 2. Chicago, IL: Woodstock Institute, 1995, pp. 35-38. (PDF)
Lowe, and Metzger. "A Citywide Strategy: The Pittsburgh Community Reinvestment Group." In Organizing Access to Capital. Edited by Squires. Philadelphia, PA: Temple University Press, 2003. ISBN: 1592130267.
Seidman, Karl F. "Bank of America Merger Case." Unpublished Case Study. Cambridge, MA. |
| 12 |
Private Market Interventions III: Community Development Banks, Bank Holding Companies |
Seidman. Chapter 9, pp. 205-211.
Taub, R. Community Capitalism. Boston, MA: Harvard Business School Press, 2004, chapters 1, 2, and 5-8. ISBN: 0875845533. |
| 13 |
Program Models I: Revolving Loan Funds, Plans for Field Work |
Seidman. Chapter 10, pp. 406-410.
Burchell, Robert. EDA RLFs: Planning, Local Structural Change and Overall Performance. New Brunswick, NJ: Rutgers Center for Urban Policy Research, 2002. |
| 14 |
Program Models II: Venture Capital |
Seidman. Chapter 11.
Hebb, and Mackenzie. "Canadian Labour-sponsored Funds: A Model for the U.S. Economically Targeted Investments." In Working Capital: The Power of Labor's Pensions. Edited by Fung, et al. Ithaca, NY: ILR Press, 2001. ISBN: 0801439019. |
| 15 |
Project Work Session |
Project Team Field Reports |
| 16 |
Program Models III: Community Development Credit Unions, Community Development Loan Funds |
Seidman. Chapter 12.
Kolodinsky, Jane, Sue Holmberg, Caryl Stewart, and Antonia Bullard. Vermont Community Development Credit Union: A Community Program that Works. Burlington, VT: Vermont Development Credit Union, 2002.
Opportunities Credit Union 2004 Annual Report.
Immergluck, and Weinstein. "Center for Community Self-Help." In Small Business Lending for Economic Development. Vol. 2. Chicago, IL: Woodstock Institute, 1995, pp. 51-54. (PDF) |
| 17 |
Program Models IV: Microenterprise Development |
Seidman. Chapter 13.
Taub, R. "Making the Adaptation Across Cultures and Societies: A Report on an Attempt to Clone the Grameen Bank in Southern Arkansas." Journal of Developmental Entrepreneurship 3, no. 1 (Summer, 1998) (DOC)
Servon, Lisa. "Microenterprise Development as an Economic Adjustment Strategy." New Brunswick, NJ: Rutgers Center for Urban Policy Research, 1998, pp. 37-51. (PDF)
Optional
Edgcomb, and Klein. Opening Opportunities, Building Ownership. FIELD Report, February 2005, chapter 5, pp. 79-106. (PDF - 1.2 MB) |
| 18 |
Federal Programs: SBA Programs, CDFI Fund, HUD 108 Program, Office of Community Services, New Market Tax Credits |
Seidman. Chapter 14.
New Markets Tax Coalition. New Markets Tax Credits: A Progress Report. Washington, DC, May 2005. (PDF)
Optional
Taylor, B. "Investor Perspective: How to Evaluate the Purpose, People and Projects for NMTC Investments." Community Development Investments Review 1, no. 1 (2005): 33-36.
Bystry, D. "Case Study from Application to Construction: Clearinghouse CDFI Puts NMTC to Work." Community Development Investments Review 1, no. 1 (2005): 37-42.
Wells, J. "Case Study from Application to Construction: Lenders for Community Development Puts NMTC to Work." Community Development Investments Review 1, no. 1 (2005): 43-48. |
| Part IV: Program Management |
| 19 |
Issues in Program Management: Program Planning and Design |
Seidman. Chapter 16. |
| 20 |
Issues in Program Management: Marketing and Origination, Underwriting and Structuring Investments, Servicing and Portfolio Management |
Seidman. Chapter 17. |
| 21 |
Issues in Program Management: Capital Management and Recapitalization |
Seidman. Chapter 18.
Robinson, Kelly. Structured Finance for Economic Development Loan Funds. Newark, NJ: Rutgers University Cornwall Center for Metropolitan Studies. Paper presented at the 2001 Annual Conference of the Association of Collegiate Schools of Planning.
Seidman, Karl. "Case Study: South Eastern Economic Development (SEED) Corporation." Unpublished Case Study. Cambridge, MA.
Optional
Bullard, A. "High-Impact Capital: Using Secondary Capital to Expand Community Development Credit Union Capacity." Community Investments Online 16, no. 2 (September 2004). |
| 22 |
Term Project Presentations |
|
| 23 |
Term Project Presentations (cont.) |
|
| Part V: Municipal Financing Tools |
| 24 |
Municipal Finance Tools I: Municipal Debt Industrial Development Bond
Guest Speaker: Tobias Yarmolinski, RBC Dain Rauscher |
Seidman. Chapter 15, pp. 341-348. |
| 25 |
Municipal Finance Tools II: Tax Increment Financing Assessment Districts and BIDS |
Seidman. Chapter 15, pp. 348-361.
Johnson, C. L. "The Use of Debt in Tax Increment Financing." In Tax Increment Financing and Economic Development. Edited by Johnson and Man. Albany, NY: State University of New York Press, 2001, pp. 71-86. ISBN: 0791449769.
Mitchell, J. "Business Improvement Assessment Financing Districts and the New Revitalization of Downtown." Economic Development Quarterly 15, no. 2, 115-123.
Kildee, Dan. "Genesee County Land Bank Initiative." (DOC) |
| 26 |
Course Conclusion |
Seidman. Chapter 19.
Pinsky, Mark. "Taking Stock: CDFIs Look Ahead After 25 years of Community Development Finance." Capital Xchange (December 2001). (PDF) |
| 27 |
Wrap Up |
|