The Federal Reserve Board announced Marc Norman, associate professor of practice in urban and regional planning at U-M’s Taubman College, as one of six new members of the Federal Reserve Board’s Community Advisory Council (CAC). The members will serve three-year terms beginning in 2019.
The CAC is made up of individuals from a variety of fields related to community, economic, and housing development. Norman, who specializes in affordable housing and community development policy, will join experts from organizations including the AFL-CIO and Project Vida. The CAC will provide information and policy recommendations to the Federal Reserve Board on issues related to housing access, employment, and economic development, among other topics.
“I am honored to serve on the Federal Reserve’s Community Advisory Council, along with other field experts, to provide collaborative recommendations that will shape the U.S. financial decisions and markets in pursuit of a fair and strong economy,” said Norman. “Understanding the needs, changes, and impacts of housing affordability and rising income inequality are core components to economic planning and a strong financial system.”
Norman is an internationally recognized expert on policy and finance for affordable housing and community development. Trained as an urban planner, he has worked in the field of community development and finance for more than 20 years. He began his professional career working with the Planning Department of Los Angeles County and nonprofits providing affordable housing in Los Angeles and New York. He then moved into leadership positions with several financial institutions, including Lehman Brothers, Duvernay + Brooks, and Deutsche Bank, specializing in complex financing for affordable housing and economic development projects.Through those endeavors he conducted and participated in a wide array of projects related to strategic planning, affordable housing development, lending, and investment. He has notable experience in the use of tax credits for affordable housing development. Norman is the president of his own consulting firm, Ideas and Action, working internationally on projects promoting affordable housing and community development.
The two meetings of the CAC are planned for May 24 and November 1, 2019. For more information about the six new members of the CAC, visit federalreserve.gov/newsevents/pressreleases/other20181025a.htm.