Spring 2006 
Federal Reserve Bank of Boston
March 1, 2006
- Alternative Mortgages: Managed Risk or Gamble?
by Andrew Olszowy, Federal Reserve Bank of Boston
Alternative mortgages may increase flexibility for lenders and consumers, but they also add risk. The best advice for all parties is to learn as much as possible about these tools and proceed with caution. - Economic Revitalization through the Arts
by Beate Becker, former director, New England Creative Economy Initiative
Whether artists' lofts lure tourists or graphic designers enhance manufacturing, the benefits of the creative economy are everywhere. Today New England is learning the value of fully integrating this source of growth into economic-development agendas. - Starting a Community Development Bank in New Haven
by Peggy Delinois Hamilton, Yale Law School
With their ability to attract socially conscious investors to a community bank and provide tax deductions, nonprofits could become increasingly pivotal in making financial services available to low- and moderate-income communities. - Helping the Elderly with Daily Money Management
by Richard A. Hylan, Massachusetts Money Management Program
In 1991, 30 Massachusetts nonprofits approached AARP and the Office of Elder Affairs about providing money-management assistance to seniors. The resulting program helps roughly 1,200 clients per month to handle their finances with less anxiety. - Recycling Urban Vacant Land
by Rosalind Greenstein and Yesim Sungu-Eryilmaz, Lincoln Institute of Land Policy
Vacant, abandoned, and contaminated properties in urban areas can provide opportunities for neighborhood transformation- even new jobs. Examples in the Northeast show that sometimes all it takes to get the ball rolling is a group of visionary gardeners. - Breaking New Ground
First Person with Denise Nappier, State Treasurer of Connecticut
Connecticut law allows consideration of the social, environmental, and economic impact of state investments. Treasurer Nappier explains how focusing on a "double bottom line" has improved the state's financial health. - Mapping New England: High-Priced Refinance Loans
by Ricardo Borgos, Federal Reserve Bank of Boston - News From the Bank
Home Mortgage Disclosure Act Update
by Julia Reade, Federal Reserve Bank of Boston - Recovering from Military-Base Closings
by Antoniya Owens, Federal Reserve Bank of Boston
Although some challenges facing communities affected by base closures are unique to each situation, successful redevelopment strategies share three critical features: partnerships; creativity and flexibility; and persistence. The author considers several cases in New England.
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