The L-2-cohomology of an arithmetic quotient of an Hermitian symmetric spac
e (i.e., of a locally symmetric variety) is known to have the topological i
nterpretation as the intersection homology of its Baily-Borel Satake compac
tification. In this article, we observe that even without the Hermitian hyp
othesis, the LP-cohomology of an arithmetic quotient, for p finite and suff
iciently large, is isomorphic to the ordinary cohomology of its reductive B
orel-Serre compactification. We use this to generalize a theorem of Mumford
concerning homogeneous vector bundles, their invariant Chem forms and the
canonical extensions of the bundles; here, though, we are referring to cano
nical extensions to the reductive Borel-Serre compactification. of any arit
hmetic quotient. To achieve that, we give a systematic discussion of vector
bundles and Chem classes on stratified spaces.