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Community Development

Join Fed Webinar Session on Pay for Success and Social Impact Bonds

How does the "pay for success" model work and what is its potential use in the community development field?

Join community development practitioners from across the country at 3:00 p.m. ET on Thursday, July 24 for a webinar session on the topic. The San Francisco Fed's Ian Galloway is the featured speaker.

The session will focus on how pay for success models like the social impact bond allow government agencies to gain improved social outcomes, not just program outputs. The twin elements of pay for success–a performance-based contract combined with bridge financing–shift program failure risk from government onto a private-sector investor. Much like the low-income housing tax credit, this public-private investment structure aligns incentives and guarantees that government only "pays for success."

Register for this interactive session at the Connecting Communities® website. Participation is free, but preregistration is required.

This event is part of the Federal Reserve's Connecting Communities® series, a national initiative intended to provide community development practitioners, financial institution representatives, policymakers, and others with timely information on emerging and important community and economic development topics.