in curriculum design, and a mobile laboratory. developing local leaders these examples show that a city ’ s path to economic recovery typically depends on its ability to draw on its own particular assets. leaders that recognize the potential of those assets and foster collaboration in exploiting them can help communities remake themselves. the question then becomes how to develop and encourage local leadership. technical assistance, networking opportunities, and mentoring programs are just some of the ways that leadership can be fostered locally. based on its evaluation of springfield and cities of similar size, the boston fed worked with its public, private, and philanthropic partners to come up with an idea to enhance leadership and spur transformative change. the bank recently announced the working cities challenge, a grant competition for smaller cities in massachusetts that is designed to foster local collaboration to improve the economic health and well - being of low - income residents. initiatives winning grants are expected to demonstrate cross - sector collaboration and involve groups that typically do not work together. prize money is being provided by living cities, a national philanthropic collaborative ; the commonwealth of massachusetts ; and the massachusetts competitive partnership ; among others. the value of the competition goes beyond grant money, though that undoubtedly will help those who receive it. the real value of the competition is that it will encourage conversations among local stakeholders that are necessary to make real and lasting change. moreover, participants will receive access to technical assistance and planning resources, as well as to a growing network of public, private, nonprofit, and philanthropic leaders in the state who are focused on improving the economies of its smaller cities. bis central bankers ’ speeches for practitioners of community development, as in any field, joining a network of like - minded professionals is important for building skills and becoming aware of opportunities and resources. neighborworks america, the leading provider of community development training in the country, has provided management and leadership training for community development professionals for more than 25 years. in the past few years, neighborworks has expanded its programs to develop leadership among its network organizations ’ executive directors and board members. recognizing that effective board leadership is key to the health and effectiveness of its more than 235 member organizations across the country, neighborworks established the achieving excellence program in 2002 for its executive directors and others in the organization with significant responsibility. this 18 - month program offers professional coaching and an opportunity to work with peers to solve a particular organizational challenge. neighborworks also trains community leaders through the community leaders institute. the institute is an annual event that attracts some 800 resident leaders from across the country

use regulations impact the availability of low - cost housing? how would novel approaches to housing development increase supply and longevity of affordable units? should practitioners consider more comprehensive programs that include workforce development and financial literacy to help renters and their families achieve economic stability? access to stable, affordable housing is critical for economic well - being, and it provides an important foundation for an individual to fully participate in the economy. i hope that today's discussion is valuable for all our panelists and participants. i am excited that we are able to facilitate an ongoing dialogue among this distinguished group of researchers and practitioners to share information and discuss policy challenges related to affordable rental housing. 2 / 3 bis - central bankers'speeches i hope that these conversations can lead to identifying evidence - based solutions to meet the demand for affordable housing that is so crucial in maintaining vibrant communities. thank you for joining us. 3 / 3 bis - central bankers'speeches