Federal Reserve Board Governor Elizabeth A. Duke’s Presentation Highlights Effort to Reduce Damage from Foreclosures

New video includes Center on Urban Poverty and Community Development in the Mandel School of Applied Social Sciences at Case Western Reserve University

News Release: Thursday, April, 28, 2011

CLEVELAND - The real estate crisis has left communities across the United States struggling to deal with foreclosures, vacant homes, declining property values and destabilized neighborhoods.

The Federal Reserve, through its community development staff at its 12 regional reserve banks and the Board of Governors in Washington, D.C., works to bring together key community stakeholders to identify local problems and explore solutions.

Thursday, in Arlington, Va., Federal Reserve Board Governor Elizabeth A. Duke spoke about how the Federal Reserve System supports neighborhood stabilization efforts. The Federal Reserve has produced video reports highlight promising stabilization work in three cities: Cleveland, Phoenix and Detroit.

Duke’s comments and the three videos online at: http://www.federalreserve.gov/communitydev/stablecommunities.htm.

Duke said the Federal Reserve seeks to highlight grassroots innovation and collaboration, and the Cleveland model has great potential to be replicated in other cities.

“We have spent the last five years conducting research and developing technology tools to help the City of Cleveland, Cuyahoga County, and nonprofit agencies utilize data in targeting resources and programs designed to stabilize neighborhoods hit hard by the mortgage crisis” said Michael Schramm, research associate and analyst/programmer at the Center on Urban Poverty and Community Development in the Mandel School of Applied Social Sciences at Case Western Reserve University.

Schramm is extensively involved in the development and maintenance of the Poverty Center's neighborhood information system, NEO CANDO (Northeast Ohio Community and Neighborhood Data for Organizing). He also assists the community on a continuing basis with data and GIS mapping and conducts regular training sessions on how to use the NEO CANDO as a tool for social change.

In July 2010, Schramm took on an additional role as the director of IT and research at the Cuyahoga Land Bank.

The link for NEO CANDO is http://neocando.case.edu/. For further information, Schramm can be contacted at 216-368-0206 or schramm@case.edu.

Posted by: Marvin Kropko, April 29, 2011 01:37 PM | News Topics: Official Release