Survey Questions for State and Local Economic Development Authorities (For Oct. conference)

FHFA Economic Discussion Survey for State and Local Economic Development Authorit... Page 1 of 6
For October Use

FHFA Economic Discussion Survey for State and Local Economic
Development Authorities
Please respond to the following questions to assist the Federal Housing
Finance Agency in identifying the nation's unmet economic development
credit needs. Your responses are important to us. The Federal Housing
Finance Agency is administering this voluntary survey. Your responses will
be anonymous and will only be associated with your organization type. Your
responses will be used as written (i.e., unedited) to facilitate the open-forum
discussion.
This survey should take no more than 10 to 15 minutes to complete. Thank
you very much for taking part in this survey.
OMB No. 2590-0010, Exp. Date: 02/28/2011.

1

What is currently the most difficult portion of an economic
development funding package for the borrower to come up with?
(Select one response).
Loan from private lender
Guarantees/credit enhancements
Gap financing
Equity
Other, please specify:

2

What do you view as the biggest hurdle to obtaining economic
development financing? (Select one response).
Cost (interest rates, fees, short amortization) of private loan
Subordination
Collateral
Lack of private credit
Lack of public credit
Other, please specify:

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FHFA Economic Discussion Survey for State and Local Economic Development Authorit... Page 2 of 6

For October Use
3

What would be useful attributes of private economic development
funding that would complement your agency's programs? (Check all
that apply).
Long-term funding
Short-term/bridge funding
Fixed-rate funding
Funding for premises
Funding for equipment
Funding for permanent working capital
Subordination
Guarantees/credit enhancements
Equity
Small loans
Other, please specify:

4

What do you see as the more critical needs for economic
development? (Check all that apply).
Rural areas
Urban areas
Particular states or regions of the country (please specify in
"other" below)
Small businesses
Expansion of medium businesses
Redevelopment of declining areas
Development of new areas
Sustaining existing communities
Development of new industries (e.g., "green" products and
services) to replace declining industries
Micro and small business incubation
Other, please specify:

5

What do you view as the most important industries for economic
development funding? (Please rank from 1=most important to 7=least
important).
1

2

3

4

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5

6

7

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For October Use
Commercial
Industrial
Manufacturing
Farming/agribusiness
Social services
Public facility projects and activities
Public or private infrastructure projects such as roads, utilities, and
sewers

6

Does your agency primarily focus on? (Please rank 1=most important,
2=very important, 3=important).
1

2

3

Revitalizing declining areas
Businesses in newly developing areas
Sustaining existing communities

7

Does your agency primarily use economic development financing for?
(Please rank 1=most important, 2=very important, 3=important,
4=somewhat important).
1

2

3

4

Small businesses (SBA defined)
Expansion of medium businesses
Relocations of large businesses from other areas
Farms and agribusinesses

8

Please check the purposes of business credit for which there is unmet
demand in your market. (Please rank from 1=most important to
4=somewhat important).
1

2

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3

4

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For October Use
Premises
Equipment
Expansion
Permanent Working Capital

9

Do you restrict funding for any of these purposes?

If yes, please specify:




10 What do you think are the three most useful attributes of your program
for borrowers (e.g., no restriction on working capital, fixed interest
rate, etc.)?




11 What do you think are the three most difficult requirements of your
program for borrowers to meet (e.g., equity requirements, collateral
requirements, subordination requirements, minimum loan amounts)?




12 What is the biggest economic problem your market has faced in the
past two years? (Please select only your top three).
Decline of major industry (e.g., auto) - If selected, please identify
the major industry in the "other" field below.
Decline in Private sources
Decline in Government sources
More restrictive credit requirements
General decline in small business activity
High unemployment

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For October Use
Lack of public infrastructure to support development
Lack of local government concessions (e.g., tax abatements)
Other, please specify:

13 What do you view as the most important industries for economic
development funding? (Please rank from 1=most important to 7=least
important).
1

2

3

4

5

6

7

Commercial
Industrial
Manufacturing
Farming/agribusiness
Social Services
Public facility projects and activities
Public or private infrastructure projects such as roads, utilities, and
sewers

14 Please describe the types of economic development initiatives that will
require long-term financing, create jobs and spur economic growth
(e.g., hospitals, fire companies, energy and/or telecommunications
industries).




15 What types of economic development initiatives have been successful
in your organization's service area, for example, initiatives that have
created jobs in certain industries (green jobs, energy), provided for
social services (parks, day care centers), and/or located in a specific
geographical area (high unemployment areas, population loss, census
tracts, or empowerment zone, etc.)?




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For October Use

16 Are you familiar with the FHLBanks' targeted economic development
programs which advances (loans) funds to banks and thrifts to lend to
businesses and organizations for economic development activities?
(Select one response).
Never heard of the program
We regularly partner with FHLBank member lenders
Member lender regularly uses FHLBank economic development
programs
Do not know if this funding is provided through special FHLBank
economic development programs

17 Which type of financial assistance from the Federal Home Loan Banks
might be of potentially greatest use to the
grantees/borrowers/beneficiaries of your agency/department? (Please
rank from 1=highest to 4=lowest).
1

2

3

4

Loan
Letter of Credit
Grant
Guarantee

18 How could the FHLBanks programs used for economic development
be improved? Please consider use of funding for targeted economic
development programs.




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