Great Southern, Springfield, Mo., has announced the formation of the Great Southern Community Development Corp., a for-profit affiliate of Great Southern Bank that will focus chiefly on the redevelopment of economically underserved areas by investing in real estate and affordable housing.Great Southern said its community development director, Brian Fogle, is serving as executive director of the CDC. "The Great Southern CDC will act as a contact and catalyst between various neighborhood groups, financial institutions, developers, and government entities to stimulate economic revitalization and community growth," the company said. "Unlike conventional bank financing, the CDC will provide greater flexibility in that it can participate in equity investments and real estate development, which are not normally permitted by bank regulators." Great Southern Bank operates 29 branches in southwest and central Missouri. It can be found online at http://www.greatsouthernbank.com.
