Federal/National News

NACEDA to Meet with Federal Reserve, OMB, and USDA. On November 5, NACEDA leaders and executives will hold a series of meetings with senior administration officials, including Federal Reserve Governor Elizabeth Duke, Office of Management and Budget Director Michelle Enger, and U.S. Department of Agriculture Deputy Under Secretary for Rural Development Victor Vasquez. The meetings will focus on CDC’s NSP and stabilization efforts, and NACEDA will present its proposals to secure operational support for CHDOs, CDCs, and CEDs. NACEDA attendees include Bernie Mazyck (NACEDA Vice Chair and SCACDC E.D.); Board members Brigette Rasberry (NCCDCA) and Rick Sauer (PACDC); and industry leaders Andy Schneggenburger (AHAND), Benjamin Dulchin (ANHD), and Sally Scott (President, Maryland ABCD Network); and NACEDA staff.

House Committee Creates New Agency. On October 22, the U.S. House Financial Services Committee agreed, by a vote of 39-29, to create a Consumer Federal Protection Agency (CFPA) with supervision over all banks. The intent of H.R. 3126, the Consumer Financial Protection Agency Act, is to bring under one agency the current banking regulatory authority of six federal agencies to strengthen consumer protections. Under the bill, a CFPA would supervise and examine financial institutions, monitor credit transactions, and ensure disclosure of financial markets.

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UPDATE: NSP II Grants Expected in November. HUD is currently reviewing 404 NSP II grant applications made by states, cities, nonprofits, and consortia. HUD anticipates finalizing its funding allocations by early November, and announcing grant awards subsequently during the month. Although ARRA provides only $2 billion for NSP II, grant applications total $13 billion in requests.

Making Home Affordable Program Achieves Key Milestone Ahead of Schedule. The Treasury Department and HUD have announced that more than 500,000 trial loan modifications are in progress, almost one month a head of schedule, under the Making Home Affordable program. However, the pace of foreclosures seems to have accelerated as more homeowners fall behind on payments. According to the Washington Post, the number of homeowners that have been pulled into foreclosure increased by 5% during the third quarter. RealtyTrac, which compiles data on more than 90 percent of U.S households, says more than 925,000 borrowers have received a foreclosure filling between July and September. The goal of 500,000 trial loan modifications by November 1 initially set in July has pushed servicers to ramp up program implementation and sustain a faster pace of modifications; trial modifications are now being issued at a faster rate than new homeowners are becoming eligible. Most of the foreclosure problems remain centered in hard-hit states such as Arizona and Nevada.

(HUD press release)

NACEDA Supports Right to Purchase, Third-Party Tenant Rights Legislation. NACEDA has signed onto a letter with other national organizations asking Congressman Barney Frank (D-MA) to keep in his draft Housing Preservation and Tenant Protection Act language that would give affordable housing tenants the right to purchase their rented property when its owner removes the property from the affordable housing program. The letter also asks to keep in the bill language that would give affordable housing tenants the same third-party beneficiary rights as in Section 8 Housing Assistance Payments Contracts, Mark-to-Market Restructuring Commitments, and Rehab Escrow Deposit Agreements. Currently this draft legislation does not include these provisions. NACEDA thanks the National Low-Income Housing Coalition for driving this effort.

Preserving Homes and Communities Act to Fund Affordable Housing Trust and $6.4 Billion for Foreclosure Relief. Senator Jack Reed (D-RI) has introduced the Preserving Homes and Communities Act, S. 1731, which would provide $6.4 billion for loans, credits, or advances for owner-occupants who are experiencing financial hardship and have the ability to make future mortgage payments. The bill also requires that lenders provide individuals defaulting on loans with information that qualifies them for federal assistance before beginning or continuing foreclosure process, and the legislation prohibits certain fees relating to a foreclosure. Similar legislation has been introduced in the House by Congressman Barney Frank (D-MA), and elements of these bills are being considered for passage before the end of this year.

House Committee Reins In Financial and Credit Industries. This week the U.S. House Committee on Financial Services passed multiple bills that would require financial investment and credit rating companies to disclose more information and be held accountable for their actions, projections, and ratings. To address the problem of credit rating firms’ risky judgments on mortgage securities, the committee passed H.R. 3818 to require that most hedge funds and private equity groups register with, disclose more information to, and be subject to exams by, the Securities and Exchange Commission. The committee also passed H.R. 3890 to require credit rating companies to disclose rating information and give individuals authority to sue the companies for poor investment decisions.

House Committee Exposes Fraud in Homebuyer Tax Credit Program. On October 22, the U.S. House Ways and Means Subcommittee on Oversight held a hearing regarding fraud and abuse of the Homebuyer Tax Credit Program. The Treasury Department reported that it has opened 107,000 cases examining possible civil fraud, and 167 criminal cases, and that 19,000 individuals claimed the credit in 2008 but did not purchase a home. Congress is considering extending the program for six months at a possible cost of $15 billion. The Obama Administration has not indicated support for its extension.

(More information)

NACEDA Applauds Obama White House for Pledge to Support $1 Billion for National Housing Trust Fund, which was authorized in 2008 with the aim to rehab and preserve 1.5 million rental housing units over 10 years. The National Housing Trust Fund Campaign also has estimated that $1 billion in funds will provide 10,000 new homes, critical at a time when 360,000 affordable housing properties have been lost since 1996.

Senate Climate Bill Reflects Victory for Public Transit. The authors of the Senate climate bill announced support for improving funding for clean transportation. In particular, increased funding will be available to provide public transportation to affordable neighborhoods and to increase safety for pedestrians. Many of the details of the climate bill are still under negotiation, and NACEDA hopes to see further opportunities to create safe, sustainable communities.

HHS Offers Assistance for Energy Bills. The Department of Health and Human Services announced last week that it would provide more than $2.6 billion to states to assist low-income households in paying their heating bills in the final months of the year. The funding is available under the Low Income Home Energy Assistance Program (LIHEAP). Due to the current economic climate, an increasing number of households will not be able to afford to heat their homes.

Foundation Leader Named to Federal Position. Patrick Corvington, a senior associate at the Annie E. Casey Foundation, was nominated by the White House to be the leader of the Corporation for National and Community Service. The Corporation was established in 1993 to promote Americans’ involvement in community service. It oversees the AmeriCorps program, among others. The Obama Administration has made increasing community service a priority, and it is anticipated that the CNCS will expand many service outreach programs under its new leadership. LISC also has announced its support for Corvington; LISC was an early sponsor of the AmeriCorps program, which CNCS manages.

National Push for Volunteer Service Leads to New Volunteer Management Strategies. As a part of the Obama Administration’s emphasis on promoting community service, a task force of nonprofit and business leaders convened to evaluate volunteer management strategies. Recently the task force released a report called Reimagining Service, which outlined strategies for effective management of volunteers and volunteer-based projects. The report is available at:

www.reimaginingservice.org

NACEDA News

Managing Neighborhood Change Philly Team Tests Market Value Analysis Tool, Identifies Recurrent Challenges in Their Communities. On October 22 in Philadelphia, NACEDA Director Sarah McKinley and Root Change consultant Evan Bloom joined with NACEDA pilot team to test the Managing Neighborhood Change (MNC) framework. The team included representatives from the Philadelphia Association of CDCs (PACDC), Tom Stafford from West of the Lane CDC (part of the Ogontz Avenue Revitalization Corporation), Jill Feldstein of the Women’s Community Revitalization Project, and Catherine Califano of the Reinvestment Fund. Ms. Califano presented TRF’s new market analysis tool to be used to analyze conditions in the target MNC neighborhoods in Philly. Following this, the group focused on recurrent challenges faced by these CDCs in managing change in their communities and strategies to foster collaboration as part of MNC’s recently launched Collaborative Competitions.

Surdna Conference Emphasizes Community Stability. NACEDA Executive Director Jane DeMarines moderated a panel on Neighborhood Stabilization at the Surdna Foundation’s Grantee Learning Conference in Cleveland on October 21. The Foundation unveiled a new focus for its funding mission, centered around creating community stability, by creating economic opportunities for low-income residents and connecting people to economic opportunity. NACEDA continues to work with the Surdna Foundation grant that funded Managing Neighborhood Change to achieve their goal of creating strong local economies and sustainable communities.

CDCs Invited to Dialogue on Two HUD OAHP Grant Programs. LISC and NACEDA invite CDCs to participate in dialogue about the value and progress of two grant programs at the HUD Office of Affordable Housing Preservation: the ARRA Green Retrofit Program and the Market2Market Program. CDCs who are current recipients of these grant programs are invited to participate in upcoming discussion on the value, progress, benefits, and possible improvements on these grant programs. To become a participating CDC, contact Sarah McKinley, Director of Programs at NACEDA, at smckinley@naceda.org.

Partner News

Enterprise Commits $4 Billion to Develop New Generation of Enterprise Green Communities. The organization released the results of a groundbreaking study of cost-effective green building programs for affordable housing, and urged affordable housing developers nationwide to implement green programs in all affordable housing by 2020, to improve health and environmental problems.

To read the Enterprise report Incremental Cost, Measurable Savings: Enterprise Green Communities Criteria, visit:

www.enterprisenextgen.org

NeighborWorks Honors Heron Foundation President Sharon King. NeighborWorks America Head Ken Wade recognized King’s work at a reception in New York on October 22, hosted by NW’s NY/NJ Regional Office. Wade also recognized the work of Newark, NJ’s Mayor at the reception, attended by 200 in the CD field.

LISC to Host Forum on Building Sustainable Communities: Moving to Scale & Impact on November 4-5 in New York City, to share the story of neighborhoods benefiting from strategy with local leadership and key partners. Special presentations by Bay Area LISC, Indianapolis LISC, Rhode Island LISC, and Twin Cities LISC will include: roundtable discussion on the transformative impact with local leaders; roundtable discussion on the policy environment; and keynote speaker: The Honorable Shaun Donovan, Secretary of HUD.

Member / State News

Housing and Community Development Network of New Jersey Celebrates 20 Years of Achievement on October 28 with more than 300 of its members and friends, and the release of its report Building Community from the Ground Up: 20 Years of Community Economic Development in New Jersey. Executive Director Diane Sterner (pictured) addressed the group, thanking everyone for their creativity and dedication to community-based development in New Jersey.

(Below) Diane Sterner, HCDNNJ Executive Director (and founder); with Board President Raymond Ocasio, executive director of La Casa de Don Pedro; and Board Vice President Barbara Dunn, executive director of Paterson Habitat for Humanity.

Job Openings

AmeriCorps VISTA Position for WV Social Marketing Campaign. The West Virginia Saves campaign promotes wealth building and financial literacy. The campaign is run by a coalition of community groups and other organizations, and is seeking a volunteer through the AmeriCorps VISTA program to oversee development and operation of the campaign. Applicants should contact Lisa Werner at Werner@wesbanco.com.

Save the Date

EITCplatform.org Training Session: November 2 webinar introduction to the new site. EITCplatform.org offers training and resources on a newly updated site. The organization supports capacity building and infrastructure improvement programs.

Register for November 2 EITCplatform. org Training

CNHED Rental Housing Development Finance Training: November 3-5 in Washington, DC. CNHED has collaborated with the National Development Council to offer “Rental Housing Development Finance.” The course will examine in detail the financing and developing of rental property. Participants will gain an in-depth understanding of the criteria used by lenders and investors to decide if they will put money into a project.


Changing the Odds: Learning from the Harlem Children’s Zone® Model: November 9-10 in New York, NY. More than 1,000 leaders from nonprofit, community, government, and philanthropic organizations will participate, with a focus on how to transform their communities by replicating the innovative HCZ model.

(Info)

U.S. Green Building Council Free Affordable Housing Summit: November 10-11 in Washington, DC. For anyone interested in improving energy efficiency in affordable housing units and in the industry. Space is limited.

Redefining Urban Healthcare: November 12 in Baltimore, MD. Baltimore, home to John Hopkins and University of Maryland, has long been regarded as a hub for world-class medical research. But many communities in the city continue to struggle with significant health disparities and stubborn public health challenges. What is health care innovation? Can out-of-the-box thinking help translate medical research into healthier communities?

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Inspiring Collaboration: November 12 in Baltimore, MD. Meet and mingle with our panelists and respondents at a subscriber-only reception. Conversation will continue as we discuss ways community organizations can partner with research universities to address the needs of Baltimore.

(Sign up)

Brownfield’s 2009: November 16-18 in New Orleans, LA. This free conference is the largest, most comprehensive event in the country to focus on cleaning up and redeveloping abandoned, underutilized, and potentially contaminated properties. The 13th annual conference in New Orleans will provide over 150 educational opportunities and bring outstanding plenary speakers including Lisa Jackson, Majora Carter, Mayor Ray Nagin, and Chris Leinberger.

(Register)

Affordable Housing 101: November 18-19. This free workshop, held at THEARC in Washington DC, will cover the process of developing affordable housing. Sponsored by the Faith-Based Development Initiative and other groups. For more information and to RSVP, email Jennifer Bonsall at lbonsall@enterprisecommunity.org.

NeighborWorks Training Institute: December 7-11 in Washington, DC. Rising to the Challenge: Stabilizing Communities in the Wake of Foreclosure will focus attention on innovative policy, financing, property acquisition and development strategies. Learn about comprehensive best practices to help us all improve and advance sustainable communities. Policymakers, funders, practitioners, developers and property managers will share the latest and most effective techniques and ideas to get the work done in your community.

(Register)

New Partners for Smart Growth in February 4-6, 2010 in Seattle, WA. Join leaders from across the U.S. to tackle new solutions to curbing greenhouse gas emissions by reducing dependence on foreign oil, creating a green economy, and building more livable, walkable, and healthy communities at the 9th annual New Partners for Smart Growth conference.

(Info)