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    Community Diversity

    Investment Policy
    The City of Grand Rapids has an Investment Policy (400-01) whereby it evaluates investment options and awards bonus basis points to financial institutions based upon their CRA rating, local workforce employment, equitable lending practices and other innovative programs.
     

    City Commission Policy 400-01 – Investing to Encourage Community Lending, Banking and Employment Practices

    Financial institutions under Section 3 of City Commission Policy 400-01 may be eligible to obtain bonus basis points from the City of Grand Rapids. Bonus basis points shall be awarded as follows:

    A) Community Reinvestment Act (CRA) rating of “outstanding” will provide for 40% of the total basis points to be awarded.

    B) Employing Grand Rapids residents and/or residents of the General Target Area (GTA) shall be eligible for up to 20% of the total bonus basis points awarded based upon criteria outlined in the Administrative Guidelines of the Investment Policy.

    C) Engaging in activities to discourage predatory lending, making residential and commercial loans within the City of Grand Rapids GTA, establishing a physical presence within the City of Grand Rapids GTA shall be eligible for up to 20% of the total bonus basis points awarded.

    D) Engaging in innovative programs that involve community education, community partnerships, or community investments with community based agencies or non-profit organizations that serve low-or moderate income households may be eligible for up to 20% of the total bonus basis points awarded.

    To review City Commission Policy 400-01 and the Administrative Guideline of this policy, please click on the links provided below:

     

    You may review the City's Investment Policy by clicking here

    You may review the City's Investment Policy Administrative Guidelines by clicking here