August 26, 2008
Contact: Douglas Robinson, 202-220-2360, drobinson@nw.org
Craig Nickerson Joins National Community Stabilization Trust
Enterprise Community Partners, Inc., the Housing Partnership Network, Local Initiatives Support Corporation and NeighborWorks® America are the sponsoring organizations working to form the National Community Stabilization Trust. We are pleased to announce that Craig Nickerson has been engaged as the lead consultant and project director to complete the final business planning and formation of the Trust. In this capacity Nickerson will provide direct services and also coordinate the activities of the current consultants and staff of the sponsors engaged in this important effort.
With support from the Ford and MacArthur Foundations, the sponsors have worked over the past few months to create a national vehicle that will assist local communities to acquire distressed Real Estate Owned (REO) properties from national servicers and investors and to finance and rehabilitate them in a manner that promotes community stabilization and affordable housing. The sponsors expect to form the Trust in the early fall and begin operations in the fourth quarter of 2008.
With a distinguished career in affordable housing finance and rehabilitation, Nickerson is the ideal person to lead this effort. He has worked with many of you in his various capacities over the years (most recently at Freddie Mac and prior to that as executive director of the National Homeownership Strategy for the Clinton administration) and is eager to guide this collaborative effort to address the foreclosure crisis that is impacting communities throughout the country.
Nickerson will be working out of offices in Washington and Boston and can be reached by email at nickersonhousing@gmail.com and by phone at (703) 939-7465.
About NeighborWorks America
NeighborWorks America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. Since 1991, we have assisted nearly 1.2 million low- to moderate-income families with their housing needs. Much of our success is achieved through our support of the NeighborWorks network ― more than 230 community development organizations working in more than 4,400 urban, suburban and rural communities in all 50 states, the District of Columbia and Puerto Rico. In the last five years, NeighborWorks organizations have generated more than $15 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals. www.nw.org.
