   The National Alliance of Community Economic Development Associations |
NACEDA in the News 
NACEDA seeks to aggressively position itself and its member community development organizations in the media. Through strong media outreach we can bring our vital community and economic development issues to the forefront. Being featured in national, local and industry press enables NACEDA to keep CED's issues in the minds of policymakers, funders and the general public and allows us to highlight the great work CEDs are performing. To see our press releases please visit our newsroom. Recent coverage includes: Wall Street Journal (3/12/2008) NACEDA member Elizabeth Hersch, executive director of the Housing Alliance of Pennsylvania, says the tumult comes as the slack economy and foreclosure crisis dumps folks into the low end of the rental market. "The tax-credit program has been the one production program that has increased supply at the low end. If we see decline now, it's piling disaster on top of disaster." To access the full article visit: the online Wall Street Journal. Community Development Digest (2/08/2008) “CDBG received $3.6 billion for its formula funding in the recent Fiscal Year 2008 omnibus bill signed in late December, but the proposal made by Senate Banking Committee Chairman Christopher Dodd (D-CT) would allow the new money to be used solely to help families fight possible foreclosures ... ... Officials at the Nat'l Alliance of Community Economic Development Associations (NACEDA) are supporting the need for the new CDBG housing money, and told the full committee during a Jan. 31 hearing that the funds should be distributed in the same manner as formula funding. Jane DeMarines, NACEDA's executive director, writes to the committee that Dodd's $10 billion proposed funding level is needed to address the foreclosure and affordable housing problems.” To access the full article visit: http://www.housinganddevelopment.com (a subscription-based service). Community Development Digest (2/08/2008) “... CDBG received $3.6 billion in formula funding in the recent omnibus bill, while HUD's budget request would provide $3 billion, an 18.4% reduction from the popular program that many local development offices view as essential to future planning. "The president's FY09 proposed budget cut of 0.9 billion to the Community Development Block Grant program is like rubbing salt into the wounds of many lower income communities, already devastated by historically high foreclosure levels," says Nat'l Alliance of Community Economic Development Assns. (NACEDA) Chairwoman Diane Sterner.” To access the full article visit: http://www.housinganddevelopment.com (a subscription-based service). Community Development Digest (1/06/2008) With Congress's failure to act, community development groups are taking the lead in pushing states to pass foreclosure-prevention bills. Ten states have already done so, and three more have bills under consideration in the coming legislative sessions. The National Alliance of Community Economic Development Associations (NACEDA) says members cite foreclosures as the top problem in their states, and have taken a leading role in trying to move foreclosure prevention legislation. To access the full article visit: http://www.housinganddevelopment.com (a subscription-based service). National Mortgage News, Mortgage Servicing News Bulletin (September 2007)
"Increasing foreclosures is fast becoming the No. 1 problem facing their communities, with outright mortgage fraud, questionable lending practices and job loss all contributing factors, according to a new survey conducted by the National Alliance of Community Economic Development Associations. NACEDA chairperson Diane Sterner said, "NACEDA members represent thousands of local organizations across the nation that are on the front line of this problem, serving as that key 'trusted advisor' who looks out for the best interest of the consumer and assists in finding a solution to this devastating foreclosure problem." Ohio, Michigan and Indiana account for 19.9% of the nation's loans in foreclosure and 15% of all of the foreclosures started in the U.S. during the first quarter. All three states have suffered large declines in manufacturing employment." To access the full article visit: http://www.mortgageservicingnews.com (a subscription-based service). Verizon Small Business Center Website (September 2007) “NACEDA's survey asked 20 member states about foreclosure prevention activities. While 50% of respondents said job loss was a primary reason for foreclosure in their communities, all respondents said that poor mortgage products with escalating rates and other inappropriate lending products were a factor in foreclosure in their communities. Subprime loans with adjustable rates and exotic ARMs were a particularly common factor. In addition, divorce, escalating property taxes and emergent or unexpected medical costs were also cited as major factors in foreclosure.” Verizon Small Business Website: http://business.verizon.net/News. Housing Development Reporter: People in the News (September issue) Housing and Development Reporter: http://west.thomson.com/store/product.aspx?product_id=14862872 (a subscription-based service).
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