Economic Development Finance

Front Cover
"Incredible. What a major contribution, just to pull together the diverse array of information out there about development finance into one volume. I consider this book an 'education' for the lay reader, and a fabulous resource for the practitioner of development finance." -Dr. Rhonda Phillips, AICP, CED, University of Florida"This is the most comprehensive and best-written economic development text in the market. This would be a good text for a graduate level course and would work well with a one-semester teaching plan. . . The main strength of the book is the author's ability to summarize concepts, programs, and institutions and then draw from them issues, lessons, and challenges." -John S. Strong, School of Business, College of William and Mary Economic Development Finance is a comprehensive and in-depth presentation of private, public, and community financial institutions, policies and methods for financing local and regional economic development projects. The treatment of policies and program models emphasizes their applications and impact, key design and management issues, and best practices. A separate section addresses critical management issues for development finance programs: program and product design, the lending and investment process, and capital management. Case studies are included throughout the book to help readers develop their skills and apply policies and tools to real practice issues. A glossary of finance terms is also included.Economic Development Finance provides a foundation for students and professionals in the technical aspects of business and real estate finance and surveys the full range of policies, program models, and financing tools used in economic development practice within the United States. Learn more economic development strategies on Karl F. Seidman's Web site at www.kfsconsulting.com
 

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Contents

1 Summary of Market
16
Financing Business Enterprises
23
1 Estimated Distribution
35
An Introduction to Business Financial Statements
41
Analyzing Business Financial Statements
60
1 Summary of Financial Ratios
79
3 Financial Ratios
88
Working Capital Finance
91
5 Performance Data From State RLF Profiles
226
Venture Capital and Equity Investment Funds
240
1 Sources of Investment Into Venture
243
CommunityBased Financial Institutions
267
1 Average CDLF Ratios by Fund Type
270
Microenterprise Finance
292
1 Summary Data for U
298
Federal Economic Development Programs
319

1 Summary of Working Capital Finance Instruments
96
Fixed Asset Financing
111
1 Summary of Fixed Asset Finance Instruments
115
Real Estate Finance
133
1 Summary of Real Estate Debt Instruments
147
2 Lithgow Block Commercial Project Financing Sources
154
Loan Guarantee Programs
161
1 Different Forms of Guarantees
163
3 Summary of Selected State Guarantee Programs
171
Bank Regulations and Development Banks
184
1 Performance Measures
188
3 Relative Profits and Performance of CRARelated
196
4 Comparison of OCC and BOGFRS CDC Regulations
203
Institutional Models
215
1 Federally Funded RLFs by Agency
220
1 Four Uses of Federal
320
4 Summary of Potential Debt and Equity Sources
339
Municipal Finance Tools
341
1 Projected Assessed Values
360
Managing Development Finance Institutions
363
3 Secondary DataSources for Capital Supply Analysis
374
Managing the Lending and Investment Process
386
1 Marketing Tools
393
Raising and Managing Capital
412
Economic Development Finance Practice and Its Future
443
Glossary
451
References
461
Index
471
About the Author 493
Copyright

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About the author (2005)

Karl F. Seidman is Senior Lecturer at MIT’s Department of Urban Studies and Planning and an experienced economic development practitioner. His MIT courses have completed over forty technical assistance projects for development finance organizations and prepared twelve economic development plans, including an award-winning revitalization plan for Boston’s Hyde Park Commercial District. His professional experience includes the design, management and evaluation of economic development finance programs, the financing and supervision of complex development projects, and the preparation of economic development plans and strategies.

Mr. Seidman’s accomplishments include:

  • Authoring laws that established two Massachusetts business finance agencies
  • Building a $120 million state real estate finance and development authority
  • Preparing over fifteen local and regional economic development plans; and
  • Participating in the national evaluations of federal and foundation economic and community programs.
Mr. Seidman holds a Master's degree in Public Policy from Harvard's Kennedy School of Government and a Bachelor's degree in political science from Amherst College. He is the author of over thirty-five consulting reports, articles in professional journals, a guide to urban commercial revitalization practice and the editor of a practitioner’s guide to defense conversion.

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