Rep. Maxine Waters Announces New Anti-Foreclosure Legislation at NACEDA Summit, National Policy and Capacity Building Conference (photo at left; see "Two New Anti-Foreclosure Bills Announced" under Capitol Hill).

Home Depot Committed to Green Affordable Housing. A key sponsor of the NACEDA Summit, Home Depot is committed to being a part of affordable housing development for the long term, according to Timothy Block, Program Manager, Affordable Housing, Home Depot Foundation. He told attendees that a healthy home that is environmentally sound with access to transportation is essential to a healthy community; that people take pride in their homes and in reducing their environmental impact; and that it is important to make affordable housing safe and efficient and to think beyond "four walls "construction in the planning and design. Home Depot supports current and future green initiatives, and, Block believes, "green building" will become a mainstream technique, including environmentally friendly paints products to improve indoor air quality--all products available at Home Depot, he joked. At Home Depot, he said, it is not just about writing a check; it is about setting an example and having long-term plans for affordable housing.

NACEDA Addresses Foreclosure Crisis. At last week's Summit, attendees examined both the national picture and what states, with the input from CDCs, are doing to solve this crisis. On the state level, both legislative achievements and remediation efforts were discussed. Jim Carr, Chief Operating Officer, NCRC, moderated the panel. Carr is also editor of a recently published book: "Segregation, the Rising Cost for America" with Nandinee Kutty. Dave Buchholz, Senior Policy Analyst, Federal Reserve, discussed new proposed regulations from the Federal Reserve Board that would apply to the entire mortgage market, under its authority in the Home Ownership and Equity Protection Act (HOEPA). Bill Matthews, Senior Vice President Conference of State Bank Supervisors (CSBS) and President and CEO of the State Regulatory Registry LLC, gave an overview of the state regulatory initiatives for the mortgage industry, including the development and deployment of the Nationwide Mortgage Licensing System.

The second portion of the session focused on State & Local Foreclosure Fixes, including legislative and mitigation efforts. This panel included NACEDA Board member Joe Kriesberg, Executive Director, Massachusetts Association of CDCs, who spoke about landmark predatory lending legislation in his state; Jenelle Dame, Lead Predatory Lending Organizer, Ohio's East Side Organizing Project (ESOP), who spoke about their efforts which organizes grassroot borrowers against the predatory lenders that have devastated Cleveland's communities; and Wayne Meyer from HANDS Inc. CDC NJ, who spoke about vacant property disposition.

Save the Date: Building Green: Affordable Housing Conference: May 9, 2008 in Indianapolis. Organized by Indianapolis Local Initiative Support Corporation (LISC) and Indiana Association for Community Economic Development (IACED), among other groups, this one-day conference will feature three tracks of speakers on a wide variety of topics including innovative techniques, financing opportunities, and case studies. The registration fee is $50. (More info.)

Director Wanted for the New York Mortgage Coalition, a not-for-profit organization working to increase affordable homeownership opportunities for low- and moderate-income families in the New York metropolitan area. The ideal candidate will have strong fundraising, multi-tasking and coalition-building abilities as well as a strong interest in community development. BA/BS is required, Masters preferred. Salary: $60,000-$70,000. Women and people of color strongly encouraged to apply. Submit resume by April 30 to Irene Baldwin at irene.b@anhd.org (e-mail) or (212) 747-1114 (fax).

Executive Director Wanted for the National Housing Institute, a 33-year-old progressive national non-profit dedicated to providing resources and information to those advocating and organizing for, and/or creating and preserving affordable housing and thriving communities. Qualifications include at least 5 years of significant leadership, management, supervision and team-building experience. Graduate degree in policy, planning, public administration, political science, or journalism preferred but not required. Competitive salary. Women and people of color encouraged to apply. Forward cover letter, resume, brief writing sample, and three references to edsearch@nhisearch.org by April 30.

NeighborWorks Training Institute Featuring Foreclosure Crisis Symposium: May 5-9 in Cincinnati. The weeklong institute will include "Weathering the Storm: Stabilizing Communities in the Wake of Foreclosure" (HO907 Symposium) as well as more than 80 community development courses ranging from green building and affordable housing to neighborhood revitalization and homeownership education. Register online; by March 24 saves $50 off registration fee. Call (800) 438-5547 with any questions.

Two New Anti-Foreclosure Bills Announced by Rep. Maxine Waters (D-CA), Chairwoman of the House Housing & Opportunity Subcommittee on April 2 at a National Policy and Capacity Building Conference on Capitol Hill before members NACEDA. The Foreclosure Prevention and Sound Mortgage Servicing Act would require mortgage servicers to forward a borrower's information to a HUD certified counselor if they are more than 60 days delinquent on a loan. Waters spoke of the need for a sound approach that must include resources and partnerships with organizations such as CDCs. The Neighborhood Rescue and Stabilization Act would provide targeted assistance to communities hardest-hit by the foreclosure wave; maximum flexibility in the use of federal resources; and inclusion of the poorest and most burdened by housing costs. NACEDA Policy Committee Co-Chair Terry Chelikowsky commented on the legislation: "It shows that she views community development corporations (CDCs) as part of the solution to this growing crisis." NACEDA Executive Director Jane DeMarines said because CDCs are experts in land acquisition, their expertise is coming into greater play daily, as the nation wrestles with the growing impact from foreclosure.

Both Democratic Presidential Candidates Would Try to Help Community Development, their campaign advisors told the NACEDA conference last week. If elected, Sen. Hillary Rodham Clinton (D-NY) would double Community Development Block Grant funding to $8 billion, create a $30 billion Emergency Housing Fund to prevent foreclosures, expand the Mortgage Revenue Bond Program, and create a 90-day moratorium on foreclosures. Sen. Barack Obama (D-IL) would fully fund and expand CDBG (no specific figure given), restore funding to various public housing programs, create mixed-income neighborhoods using Fannie Mae and Freddie Mae, and focus on job creation through broadband expansion, access to capital for underserved businesses, and Small Business Administration funding for public/private business incubators.

(Additional articles from NACEDA Summit will appear in the next edition, April 21.)

HUD Secretary Alphonso Jackson Announces Resignation, on March 31 amid allegations of cronyism and favoritism being investigated by the Justice Department's ethics division, FBI, HUD inspector general and federal grand jury. Earlier in March, Sens. Patty Murray (D-WA) and Christopher Dodd (D-CT) wrote President Bush a letter pressing for Jackson's resignation, claiming that the allegations had become a distraction and were rendering him ineffective.

Regulator Eases Restrictions on GSEs. The Office of Federal Housing Enterprise Oversight in a March 19 decision reduced the amount of capital that Fannie Mae and Freddie Mac are required to hold in reserve against losses, thus allowing the two government-sponsored enterprises to increase their combined mortgage investments by up to $200 billion, which could improve the availability and affordability of home loans, according to Fannie and Freddie leaders.

Senate's Foreclosure Prevention Act of 2008 Includes $4B in Emergency CDBG Funds, negotiated by Banking Committee Chairman Christopher Dodd (D-CT) and Ranking Member Richard Shelby (R-AL). The Community Development Block Grant funds would be used to buy and rehabilitate foreclosed homes.

Rural Housing Funding Restoration Urged in Senate Sign-On Letter circulated by Sens. Charles Schumer (D-NY) and Olympia Snowe (R-ME). They want the Senate Appropriations Subcommittee on Agriculture to fund USDA Rural Development housing programs that were significantly cut or eliminated in the Administration's FY09 budget request. Specific requested levels include $150 million for Section 515 rural rental housing, $1.5 billion for Section 502 direct loan, $60 million for USDA Self Help Housing, $50 million each for Section 514 and 516 farm labor housing, and $10 million for the Rural Community Development Initiative

Housing Protection and Foster Care Prevention Act of 2008 Introduced on March 14 by Rep. Maxine Waters (D-CA) to exclude qualified post-foster care guardianship assistance program payments from the calculation of income for programs under the U.S. Housing Act of 1937. The bill, which now has 11 sponsors, has been referred to the House Financial Services Committee.

How to Obtain Economic Stimulus Payment, even if not required to file 2007 tax returns: Advice available online from the IRS, and organizations such as AARP and the National Women's Law Center.

NYC Enacts Tenant Anti-Harassment Law. Mayor Michael Bloomberg (I) on March 13 signed a bill that gives tenants the right to sue landlords for using threats and other harassing behavior to force them out, and classifies harassment a housing code violation subject to civil penalties from $1,000 to $5,000. Whereas such harassment reportedly had increased in recent years, the new law now provides tenants a streamlined way of pursuing relief, according to supporters.

Massachusetts Examines Vouchers and Foreclosure Solutions (see story under Research).

NYC Transportation Authority Approves $1B Mixed-Use Development on Manhattan's West Side. Covering the Western Rail Yard and Eastern Rail Yard owned by the authority, the 26-acre, 13-building Hudson Yards complex will have 3,000 residential units, 10% of them permanently affordable, according to the developer's proposal, as well as 10 million sq. ft. of office space and 550,000 sq. ft. of retail space. Construction reportedly will be certified to meet green industry standards.

Manhattan Property Owners Fight Proposed Columbia University Underground Expansion, filing a lawsuit on March 27. A state Supreme Court will determine whether city officials properly examined the environmental impact. The university wants to redevelop 17 acres into a center for teaching, academic research, and the arts, along with retail, cultural, and community facilities.

California Voters Would Favor Less Sweeping Eminent Domain Reform. In a survey regarding two state propositions to appear on a June ballot, 53% of likely voters said they would back Prop. 99, the Homeowners & Private Property Protection Act, which would amend the state constitution to protect homes from transfer to another private owner and prevent future amendment. Prop. 98, the California Property Owners & Farmland Protection Act, would protect businesses and places of worship as well as homes. Republicans were more likely to favor both initiatives, particularly Prop. 98, while more Democrats and independents said they would support Prop. 99. Backers of Prop. 99 said the title of Prop. 98 is misleading and tried unsuccessfully to have it changed, and are arguing that its actual intent is to create rent controls on landlords and to make land-use decisions cost-prohibitive. (See also "California Has Dire Need for Reform of Eminent Domain," under Research.)

Connecticut Legislation Would Give Towns Notice of Business Leaving Because of State Tax Incentives. The Department of Economic & Community Development, when offering a business incentives to move elsewhere in the state, would be required to notify the affected tax jurisdiction, which would then have 10 days to make a counteroffer to the business. Sub. Bill No. 5635, approved by the General Assembly's Commerce Committee, goes now to the full Assembly. If passed, it will take effect October 1.

CDFI Fund E-Mail Update Service Launched offering subscriptions to program announcements, press releases, and more. Visit http://www.cdfifund.gov/.

Inclusionary Zoning Has Little Effect on Affordable Housing Prices, and tends to promote production of units over time, according to The Effects of Inclusionary Zoning on Local Housing Markets: Lessons from the San Francisco, Washington, DC and Suburban Boston Areas, commissioned by The Center for Housing Policy and issued March 25. IZ meshes affordable housing and market-rate housing efforts. More than 300 jurisdictions have adopted IZ policies since their advent in the early 1970s.

Web's Easy Access to Data Transforming Community Development, as described in a new Lincoln Institute of Land Policy report issued on March 18, focusing on CD efforts in Chicago, Cleveland, Minneapolis-St. Paul, Philadelphia, and Washington, DC. The authors indicate the potential to create affordable and sustainable communities but remain cautious about obstacles.

California Still Has Dire Need for Reform of Eminent Domain, despite restrictions enacted in 2006, according to California Scheming: What Every Californian Should Know About Eminent Domain, released by the Institute for Justice's Castle Coalition on March 10 as competing groups promote two propositions for a June ballot (see "California Voters Would Favor Less Sweeping Eminent Domain Reform," under State and Local Developments).

Massachusetts Vouchers and Capital Subsidies Could Be Linked to Create Additional Affordable Housing, targeting extremely low-income households, according to Building the Stock, recently released by the Citizens' Housing and Planning Association (CHAPA) and Home Funders, a Massachusetts collaboration of foundations. They recommend increasing the number of vouchers funded through the Massachusetts Rental Voucher Program (MRVP), which had 4,350 in 2006--down from 9,646 in 1997.

Copyright © 2008 by NACEDA. All rights reserved. Any republication must be credited to NACEDA.