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Season's Greetings from the NACEDA
Staff. In our final newsletter of the
year, NACEDA would like to wish all of you
Happy Holidays, and a wish for a new year
filled with peace and hope! We'll be back in
2010 to keep you up to date with news from
NACEDA and our members!
--Jane DeMarines, Rachel Audi, Sarah
McKinley and Sarah Kirk
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Federal Reserve Board Governor Elizabeth Duke Addresses Slow Recovery in a speech on neighborhood stabilization at NeighborWorks, claiming that "toxic titles" are slowing the pace of recovery in the housing market. In many low-income areas, lenders have failed to complete foreclosure proceedings because of the costs involved, putting the properties in a "legal limbo" short of foreclosure, Duke said. Ending this cycle will be crucial to stabilizing neighborhoods hit with high foreclosure and default rates and increasing lender involvement in community development, she said. House and Senate Agree to Increased FY10
Appropriations Funding for Housing, Community
Development; Create Choice Neighborhoods
Initiative. House and Senate T-HUD
conferees have agreed to increases in funding
for various HUD programs. H.R. 3288 funds the
following:
House Passes 9% Exchange and New Markets Tax Credit Extension. On December 8, the House passed H.R. 4213, the Tax Extenders Act of 2009. First enacted in the American Recovery and Reinvestment Act in early 2009, the provision in the bill would extend for one year, through December 31, 2009, the 9% exchange states may elect for maximizing LIHTC and development opportunities. The cost of the provision is $471 million over 10 years. The House also extended the New Markets Tax Credit at a cost of $1.4 billion over 10 years. (More information) House Passes CFPA Bill. On December 11, the House of Representatives passed the Consumer Financial Protection Act, H.R. 4173, to supervise, examine and enforce financial industry activity; monitor transactions pertaining to credit and mortgages; and ensure disclosure and transparency, and safety and soundness of financial markets and securities. (More information) NACEDA Joins Coalition to Ask FFIEC, Feds to Reform Community Reinvestment Act. On December 15, NACEDA joined 18 national organizations in sending a letter to the Federal Financial Institutions Examination Council, Federal Deposit Insurance Corporation (FDIC), Office of Thrift Supervision (OTS), Federal Reserve, and Office of the Comptroller of the Currency (OCC), urging the FFIEC to "send a clear message that CRA-related lending, services and investments are a core responsibility, consistent with the safe, sound, and responsible operation of financial institutions." The letter requests short- and long-term actions, including adding an allowance to for banks to choose CD lending as part of the investment test, and providing interim final rule to ultimately attract bank lending in mid-sized and smaller metropolitan areas and rural areas, until Congress reforms more substantially the CRA law. |
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NACEDA Meets with Heads of HUD CDBG, HOME Programs. On December 8, NACEDA met with HUD Deputy Assistant Secretary for Grant Programs Yolanda Chavez. NACEDA discussed the health of the CDC and CHDO industries, NACEDA's recent operational funding requests to HUD regarding CHDOs, and streamlining and increasing communications among HUD, participating jurisdictions, and nonprofit beneficiaries. Others attending the meeting were CDBG Director Stan Gimont, HOME Director Cliff Taffet, and HOME Deputy Director Virginia Sardone. NACEDA to Offer Practitioner Day at NACEDA Summit. NACEDA's Membership Committee has decided to launch a special day as part of its annual summit specifically designed for CDC practitioners, with a special one-day rate as well. Look for details in conference marketing, being sent out in the coming weeks, and also check the NACEDA website to look for information. The one-day seminar will feature a fishbowl discussion on the future of the community development industry as well as panel sessions covering fundraising in the changing economic climate, organizational management and green development. NACEDA Issues Survey to CDCs, State/City/Regional Associations. On December 1, NACEDA issued to state, city, and regional associations and to CDCs a survey regarding 2010 federal legislative needs and priorities, a national pool of community development experts and community response to federal programs, including NSP, ARRA, and Choice Neighborhoods. NACEDA requests surveys be completed as soon as possible. The survey can be found at http://www.surveymonkey.com/s/PQ3YB3S. |
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NACEDA, Smart Growth Center Discuss
Collaboration. On December 14, NACEDA
staff met with representatives of the
National Center for Smart Growth Research and
Education at the University of Maryland to
discuss topics of mutual interest including
foreclosure mitigation, sustainable
development and green housing. In the meeting
with Gerrit Knaap (Director of the Center),
Joanne Throwe (Director of the Environmental
Finance Center), and Cari Varner (Assistant
Director of the newly formed Center for the
Use of Sustainable Practices (CUSP)), NACEDA
learned about ongoing research at the Center
for Smart Growth and explored opportunities
to collaborate on future initiatives.
NeighborWorks Symposium on Foreclosure and Community Stabilization Includes Best Practices of CDCs. "Rising to the Challenge: Stabilizing Communities in the Wake of Foreclosure," December 9, included addresses by Elizabeth A. Duke (Federal Reserve Governor); Mercedes Marquez (Assistant Secretary for CPD at HUD); and Douglas Palmer (Mayor of the City of Trenton). The Washington DC event also included video presentations from CDCs engaged in foreclosure prevention activities, awarding of the Home Depot Foundation's Awards of Excellence for Sustainable Community Development and the unveiling of NWA's new and improved www.stablecommunities.org website. NACEDA Joins Eight Partners in Support of CFPA Provisions in Senator Dodd's Financial Overhaul Bill. On December 17, nine national community development and consumer organizations sent a letter to U.S. Senators stating for their support for provisions of the Restoring Financial Stability Act of 2009, introduced by Christopher Dodd, Chairman of the Senate Banking Committee. The organizations expressed concern about the current economic climate in the nation's communities, including support for creating a Consumer Financial Protection Agency and expressed interest in continuing to work to ensure a strong bill for community development. |
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NACEDA Meets With Baltimore CDC Leaders
and Tours New Initiatives. On December 14, NACEDA staff met with key Baltimore representatives to the Maryland Asset Building Community Development Network – Karen Blandford, the Network’s Executive Director, Kelly Little of the Druid Heights CDC, Sally Scott of the Baltimore Neighborhood Collaborative, Joann Levy of the Women's Housing Coalition, Mark Cameron of the Neighborhood Design Center, Joe McNeely of the Central Baltimore Partnership, and consultants Julia Pierson and Bill Miller. They discussed efforts to develop strong working relationships with city officials and improve the 2011-2015 Baltimore Consolidated Plan. Kelly Little and his staff provided a tour of ten initiatives by his CDC to rehabilitate distressed properties, build affordable housing, and initiate economic development in their West Baltimore neighborhood. Joe McNeely of the Central Baltimore Partnership enlightened NACEDA staff and PNC officials about the Partnership's vision to create a thriving urban core with a tour of critical redevelopment sites.
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Enterprise and LISC Partnership Receives Goldman Sachs Support. The Goldman Sachs Urban Investment Group announced in early December its plans to invest $61 million in the New York Equity Fund (NYEF) to support the preservation of housing for low-income New Yorkers. NYEF is a joint venture between LISC, Enterprise Community Investment and the Department of Housing Preservation and Development, and has been working to preserve affordable housing in New York for 20 years. This announcement comes in the wake of Goldman Sachs's commitment to increase its support of community development efforts. Veterans Housing Film Receives Award. "Rebuilding Together--Veterans Initiative," which showcases Rebuilding Together's program dedicated to developing and repairing housing for veterans returning from service, received the Platinum Ava Film Award in early December. The program has worked on more than 500 projects, making repairs and installing disabled access in the homes of veterans returning home. The program is funded by Rebuilding Together's partners including the Heroes at Home campaign through Sears holdings. NeighborWorks To Expand Training for Housing Counselors. On December 11, NeighborWorks America announced that it had received a grant of $425,000 from Citi Foundation for its Center for Homeownership Education and Counseling. The center provides training and certification to housing counselors, as well as education to low- and moderate-income homeowners. With the grant from Citi, NeighborWorks will expand its efforts to train 400 new counselors. National Housing Conference Voices Support for "Cash for Caulkers." In a statement released last week, NHC President and CEO Conrad Egan urged lawmakers to approve a program that would create or save an estimated 360,000-500,000 jobs by encouraging improved energy-efficiency of housing. The program, referred to as "cash for caulkers" would generate environmental and health benefits while supporting thousands of construction workers and contractors.
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Mentoring Program Cultivates CDC Career Advancement for People of Color. On December 17, the Alliance -- an initiative of the Massachusetts Association of Community Development Corporations -- celebrated participants completing their 2008-2009 Community Development Mentoring Program. The program seeks to advance the careers of mid- to senior-level CDC professionals of color who demonstrate leadership potential by pairing them with mentors who are higher-level CDC professionals. Professionals from Codman Square NDC, LISC, Jobs for the Future, YMCA Training, Inc. and other CDCs participated in the program. Now completing its third year, the program promotes a culture of learning and facilitates the representation of people of color at the top level of the CDC field. |
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The Neighborhood Funders Group in Washington DC, seeks an Executive Director. The position requires an experienced individual with organizational, financial, legal and management skills. For a full job description, visit NFG's website: www.nfg.org. The Central Vermont Community Action Council is seeking a loan fund director with capabilities in strategic planning, business lending and fundraising for Community Capital, a CDFI based in Barre, VT. Submit letter of inquiry and resume by January 29 to: Personnel Administrator, Central VT Community Action Council, Inc., 195 US Route 302-Berlin, Barre, VT 05641; e-mail: Lbeaudoin@cvcac.org. The Center for Financial Services Innovation (CFSI) is seeking a Policy Analyst to work with its team to support productive relationships with financial services providers and policymakers. This position is part of an expanded effort to impact federal financial services policy and regulation. To apply, submit cover letter and resume, with a writing sample, to resumes@cfsinnovation.com. Include "policy analyst" in the subject line. |
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State Budgets 2010 Peer Call: January 4, 2010 at 4:00 p.m. EST. Join NACEDA and LISC for a conference call to discuss the impact of changing state budgets on community developers. Share information about your state, learn from others and discuss best strategies to stem potential cuts and take advantage of low hanging opportunities. Call-in number (712) 775-7100, Participant code 1030101. Financial Literacy Teacher Workshop: January 20 in Twin Falls, Idaho. The Idaho Council on Economic Education and Wells Fargo Bank will host a teacher training series. The workshops feature training and curriculum ideas for students of all ages. (More information) New Partners for Smart Growth: February 4-6, in Seattle, Washington. 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. Visit http://newpartners.org/ for more information. America Saves Week: February 21-28. This national campaign, managed by the Consumer Federation of America, will work through nonprofit, corporate and government institutions to help Americans build wealth through saving. Visit http://www.americasavesweek.org/ for more information. Economic Development Finance Professional Certification in Ohio: March 22-26, June 7-11, October 4-8, January 24-28. The Ohio CDC Association and National Development Council will offer four courses in Columbus, Ohio over the next year. Early bird registration rate ends January 31. (Register online) Financial Literacy: Implications for Retirement Security and the Financial Marketplace: April 29-30. The Philadelphia, Pa. conference, geared toward policymakers, academics, actuaries, plan sponsors, and benefits specialists, will cover lessons learned from the financial crisis and strategies for the future. (More information) Grassroots and Groundwork Conference: May 13-14. This year's theme is "Seizing Opportunities to Reduce Poverty and Build Community Prosperity." The conference, held at the Red Lion Hotel in Portland, Oregon, will cover new developments in affordable housing, job training and green enterprises, financial literacy and public policy. Visit http://www.grassrootsandgroundwork.org/ to learn more. |
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NACEDA Policy Update seeks your state/local news. Please send to news@naceda.org. Our thanks to Housing Assistance Council, U.S. Department of Housing & Urban Development, NLIHC, CD Digest, Associated Press, National Council on State Housing Agencies, The Washington Post and Opportunity Finance Network. Copyright © 2009 by NACEDA. All rights reserved. Any republication must be credited to NACEDA. |
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