Laserfiche WebLink
6.3.A. - Page 161 <br />Impediment 5: Discriminatory patterns in predatory lending. Evidence of this <br />impediment was seen in HMDA data, which showed higher rates of subprime loans <br />among black, American Indian, and Hispanic applicants in Redwood City. <br />Action 5.1: Educate buyers through credit counseling and home purchase training <br />Measurable Objective 5.1: Increase number of outreach and education activities <br />conducted <br />Impediment 6: Unequal distribution of small business loans. Evidence of this <br />impediment was seen in the CRA data, which indicated that small business loans in <br />Redwood City went disproportionately to areas with more than 80 percent of the <br />median family income. <br />Action 6.1: Monitor Community Reinvestment Act lending practices <br />Measurable Objective 6.1: Increase number of monitoring activities conducted <br />Action 6.2: Discuss findings with bankers' association and local jurisdictions to <br />encourage the development of a countywide investment approach <br />Measurable Objective 6.2.o: Increase number of discussions held <br />Measurable Objective 6.2.b: Development of plan or approach <br />Measurable Objective 6.2.c: Increase number of incentives or other tools offered by <br />jurisdictions <br />PUBLIC SECTOR IMPEDIMENTS, SUGGESTED ACTIONS, AND MEASURABLE OBJECTIVES <br />Impediment 1: Lack of 2012 HUD funding for Project Sentinel, local Fair Housing <br />Initiative Program agency. Project Sentinel did not receive HUD funding in 2012 for <br />testing, investigation, and other fair housing projects, as seen in the review of the fair <br />housing structure. <br />Action 1.1: Work with Project Sentinel to identify and evaluate causes of denial of <br />HUD funding in 2012 <br />Measurable Objective 1.1: Increase number of causes identified and resolved <br />Impediment 2: Ineffective fair housing outreach and education efforts by Project <br />Sentinel. The existence of this impediment was suggested in Redwood City <br />respondents' answers to the 2012 Fair Housing Survey. <br />Action 2.1: Work with Project Sentinel to evaluate current fair housing outreach and <br />education efforts and identify improvements to make them more effective <br />