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NeighborWorks Rural
Leaders Vow to 'Bust A Billion' in Rural Investments by 2005
Leaders
of the NeighborWorks Rural Initiative steering committee announced
their resolve to generate more than
$1 billion in rural communities across America by December
31, 2005. This level of investment will directly assist over
32,000 rural families with financial counseling, new home
purchases and repairs to existing homes, economic development
and job creation, new and improved units of affordable rental
housing, along with much needed community facilities. Co-chair
Josie Cuda from the HomeOwnership Center of Randolph County,
West Virginia, states, “We wanted to challenge ourselves
and our partners, as well as make a statement about the growing
power of this network. A billion may be a stretch, but we’re
going for it.” View
press release.
Syracuse
Home Equity Protection Program Featured in Wall Street Journal
Article
A
Syracuse, N.Y., NeighborWorks organization is capturing national
attention for a program that was created to encourage people
to buy homes and stay in the area. A Feb. 3, 2004 Wall
Street Journal article by Daniel Nasaw, entitled "For
Some Home Buyers, a Nice Hedge," focused on a Syracuse
home equity protection program (HEP) administered by Home
HeadQuarters, Inc., that protects more than $4.7 million in
home equity against declines in the value of local house prices.
Virginia Smith, coordinator of the program, said the article
helped show that "Central New York is taking tremendous
strides in building better neighborhoods and creating innovative
incentives for people who want to live and remain in the area."
The program, she said, was created to give peace of mind to
people who want to stay in their Syracuse homes but are concerned
about real estate market values. Currently, 67 homeowners
are protected through the program. Read
more.
Neighborhood
Reinvestment Board to Commend New Hampshire Credit Unions
The board of directors
of Neighborhood Reinvestment will be presenting a resolution
this month commending New Hampshire credit unions for their
support of local NeighborWorks organizations.
Fannie
Mae Foundation Grants Harvard Fellowship to
Neighbors Helping Neighbors Executive Director
Lisa-Nicolle Grist, executive director
of Neighbors Helping Neighbors (NHN), Inc., a NeighborWorks
organization based in Brookyn, N.Y., received a fellowship
from the Fannie Mae Foundation. Recognized for her commitment
to and accomplishments in the field of affordable housing,
Grist will attend an intensive, three-week course this month
at Harvard University’s John F. Kennedy School of Government
Program for Senior Executives in State and Local Government
(Fannie Mae Foundation Fellowship Program). The course is
designed to enhance leadership skills, develop new management
techniques, and cultivate relationships among public sector
colleagues. View
article.
NHS
of San Antonio Helping Prepare Buyers for Award Winning Development
The Spring View single-family housing development
in San Antonio is a classic private-public partnership that
garnered a "HUD Secretary's Award for Excellence."
Many of the people who have been interested in buying the
homes were unable to qualify for the homes. However, credit
counseling programs they were referred to -- such as one offered
by Neighborhood Housing Services -- should result in a greater
number of people qualifying for new homes in the near future.
View article. San Antonio Business Journal
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| Community
Strategies represents the shared experience of the NeighborWorks
network and Neighborhood Reinvestment Corporation in various topics
of community development and affordable housing. |
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| The
NeighborWorks Training
Institute is dedicated to providing the highest quality training
for community development practitioners. Learn about the latest
classes and symposia on leading-edge topics. |
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| Neighborhood
Reinvestment, working closely with members of the NeighborWorks
network and partners, produces a wide-variety of publications. Most
are free and others cost a nominal fee to order. For a complete
listing and order forms, go to NeighborWorks Publications. |
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| Find lists
and charts on Neighborhood Reinvestment and the NeighborWorks
network organizations. |
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Christian
Science Monitor Features Sears/NeighborWorks Survey Results
"Most
homeowners are pretty handy and do a good job at home maintenance.
At least that's what they told pollsters for Sears, Roebuck &
Co., Neighborhood Reinvestment Corp., and Neighborworks," reports
a Christian Science Monitor article this month. The national
survey examined differences in Americans' views toward home ownership,
maintenance, and repair. "It's clear from this publicity received
that our national partnerships are raising visibility of the NeighborWorks
name," commented John Leonard, NR marketing manager. Read
more about survey.
Gerecke to
Head NHS of New York City
Long-time
NeighborWorks member NHS of New York City has a new chief executive
officer. Sarah Gerecke, was recently hired to succeed Francine Justa
who stepped down after 18 years of extraordinary service. She brings
to the position outstanding leadership in the areas of housing finance,
real estate law, and low-income housing development and management.
Gerecke reported she “plans to continue to strengthen NHS
relationships while laying the foundation for future innovation
and growth."
New
Study: It Takes $124,000 Annual Income to Live in Northern California's
Bay Area
Bay area home ownership is out of reach for all but the older and
most affluent, according to a new report. View
article. San Francisco Chronicle.
California
NeighborWorks Organizations Receive Millions for Housing Opportunities
As part of
the "CalHome" economic stimulus package, the State of
California awarded $40 million to provide 1,546 homeownership opportunities
and $134 million to produce 2,610 units of affordable rental housing
for lower income workers and their families, the disabled and elderly.
These awards are funded by Proposition 46, the housing bond approved
by the voters in November 2002. The California NeighborWorks organizations
slated to receive $1 million each for mortgage assistance are NHS
of Orange County, NHS Silicon Valley, and Cabrillo Economic Development
Corporation. Los Angeles NHS received $1 million for mortgage assistance
and owner-occupied rehabilitation. Other NeighborWorks recipients
include Inglewood NHS ($500,000), Community Housing Works ($500,000),
Richmond NHS ($300,000), Rural Communities Housing Assistance Corporation
($100,000).
These awards
and the amounts provided represent the high regard in which our
NeighborWorks organizations are held by the State of California,"
said Margaret Frisbee, NR Pacific district director. "Our NeighborWorks
organizations will deliver desperately needed financial resources
to families challenged by the high cost of housing throughout California."
NeighborWorks
Taps Federal Home Loan Bank of San Francisco IDEA Program
Through the
Individual Development and Empowerment Account (IDEA) Program, the
FHLB Bank
San Francisco provides matching subsidies to lower-income households
saving to buy a home. In 2003, the Bank awarded $4.6 million in
IDEA funds. The accounts can boost the participants down payment
by inserting an additional three to one match to each dollar (up
to $5,000) saved by the participant.
NeighborWorks recipients, working in partnership with their local
banks to make the funds available in low-income communities, include
Los Angeles NHS, Cabrillo Economic Development Corp., Inglewood
NHS, NHS of Orange County, Sacramento NHS, and Community Housing
Works.
Neighborhood
Capital Corporation Announces New NeighborWorks Loans
NCC recently
closed on financing for the following NeighborWorks members to launch
affordable multifamily housing: Housing Resources of Columbia County,
Hudson, New York, a $75,000 pre-development loan for Millerton Apartments,
22 units of affordable multifamily housing; Manchester Neighborhood
Housing Services, New Hampshire, a $150,000 pre-development loan,
purchase and development of city parcels; and Alamo Area Mutual
Housing Association, a $959,033 interim development loan in participation
with National Housing Trust for Thompson Place and King's Point
Apartments for preservation of 268 units of affordable housing in
San Antonio, Texas.
Grant-O-Mania
for Housing Resources of Western Colorado
Housing
Resources of Western Colorado continues to attract grants. For its
Homeless Veterans’ Supportive Housing program, Housing Resources
received a grant from the Daniels’ Foundation for $170,000
and another $40,000 from the Federal Home Loan Bank Board (through
Commercial Federal Bank). It also received an additional $200,000
FHLB grant for its Self-Help Housing program. (All this in addition
to the $20,000 grant from Fannie Mae previously announced.)
Twin Cities
CDC is receiving award of funds to provide entrepreneurial training.
Twin Cities Community
Development Corp., a NeighborWorks organization in Fitchburg, Massachusetts,
is receiving $50,000 from the UMASS Donahue Institute to provide
entrepreneurial training. The state of Massachusetts announced this
month more than $600,000 in Entrepreneurial Training Program (ETP)
awards to help unemployed workers receive vital education and training
to start their own businesses.
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HUD Proposal Would
Restrict Guidelines for Nonprofit Lending
On February 13,
HUD published a proposal in the Federal Register that would
tighten guidelines for lending to nonprofit community redevelopment
groups. Such organizations can get loans to purchase and rehabilitate
single-family, HUD-owned homes through the agency's Section
203 program. HUD says that for the past nine years those loans
have had "high default and claim rates." In addition,
groups that have a lot of the loans have performed even worse.
Its proposal includes requiring that nonprofits who take out
insured financing on 10 or more HUD properties in a fiscal
year prepay at least 80 percent of the loans within two years.
Comments are due by April 13. Read
proposed regulation in the Federal Register under "Housing
and Urban Development, Proposed Rules, Mortgage and loan insurance
programs."
If you are interested in commenting on this proposal, Neighborhood
Reinvestment would also like your input. Please send your
comments to Neighborhood Reinvestment's Office of Public Policy
and Legislative Affairs, to Michael Butchko at mbutchko@nw.org,
or call 202-220-2362.
Regulatory
Agencies Propose Three Changes to CRA Rules
On February 6th,
the federal bank and thrift regulatory agencies issued a proposed
change in Community Reinvestment Act (CRA) rules. The three
changes listed below are intended to adjust CRA to keep pace
with the evolving financial services industry.
* Amend the definition of “small institution”
to mean an institution with total assets of less than $500
million, not including any holding company assets. The current
definition covers institutions with total assets of less than
$250 million. This would shift more banks and thrifts from
being regulated as “large institutions” to “small
institutions."
* Amend regulations to explicitly state that evidence of discriminatory,
illegal or abusive practices will hurt the institution’s
CRA score.
* Enhance the loan data disclosed both publicly and in CRA
disclosure statements.
Download
Proposed CRA Rules. [PDF]
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Fannie
Mae Foundation Grants, April 13, 2004
The Fannie Mae Foundation
awards grants to nonprofit organizations that create affordable
homeownership and housing opportunities in cities, towns,
and rural areas across the United States. The Foundation awards
most of its grants by soliciting proposals from organizations
with the demonstrated ability to create strong partnerships
with the Foundation. It also sets aside a limited amount of
grant funding to be awarded through a competitive process.
Last year the Fannie Mae Foundation funded less than 8 percent
of unsolicited proposals submitted through this competitive
process. Due to the volume of requests received and the finite
resources available, requests from many excellent organizations—even
some that fit well with its funding priorities—are likely
to be declined.
The Foundation will accept unsolicited grant requests from
national, regional, and local organizations working to achieve
one or more of the following goals:
* Increase the affordable housing supply
* Increase sustainable home ownership and build individual
and community wealth
* Create healthy and vibrant neighborhoods in Washington,
D.C.
Specific guidelines for submission of unsolicited proposals
will be posted at the Foundation's Web site www.fanniemaefoundation.org
by March 15, 2004. You will be able to access the online application
form from this site at that time. That application form must
be completed and submitted by April 13, 2004. This will be
the only opportunity to submit an unsolicited funding request
to the Foundation in 2004. If you have any questions, please
contact Grants Management at (202) 274-8057 or grants@fanniemaefoundation.org.
USDA: Rural Housing Preservation Grants, May 6, 2004
Nonprofits can apply
for USDA Rural Housing Preservation Grants for rural low-income,
homeowners or rental property owners, repair or rehab. An
estimated 150 awards will be granted with an average of $53,000
per grant. No match is required. For specific application
process, contact your local USDA office. Local Contacts: http://www.rurdev.usda.gov/recd_map.html
Web Site: http://www.rurdev.usda.gov
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Symposium on Multifamily Excellence
to be Offered at NeighborWorks Training Institute in Minneapolis,
May 5
How do we communicate effectively to gain support for affordable
housing? Join us on May 5 at the NeighborWorks Training Institute
in Minneapolis, Minn. for an interactive symposium to learn
strategies for improving public communications about affordable
housing. The symposium, "Changing Minds, Building Communities:
Advancing Affordable Housing Campaigns through Communications
Campaigns," is designed for experienced development practitioners,
policymakers, national housing leaders, and marketing professionals.
Keynote speakers will include R.T. Rybak, mayor of Minneapolis
and Carl Guardino, president and CEO, Silicon Valley Manufacturing
Group. The symposium is hosted by Neighborhood Reinvestment
and The Campaign for Affordable Housing and is sponsored by
Fannie Mae and Freddie Mac. View
more information.
Take Two Home Ownership Courses in Spanish
Free of Charge
At the NeighborWorks Training Institute in Minneapolis, two
Home Ownership courses in Spanish will be offered at no tuition
cost:
* Aptitud Financiera: Enseñando Destrezas de Administración
Financiera (Financial Fitness: Teaching Financial Management
Skills) – Monday, May 3 – Wednesday, May 5
*Consejería para la Compra del Hogar (Housing Counseling)
– Thursday, May 6 – Friday, May 7
If you are a predominately Spanish-speaking community development
practitioner working with a growing Latino population, these
courses will help you learn important skills and tools, and
you will receive the materials in Spanish. Translation of
these course materials was made possible by funding from the
MetLife Foundation. Download
flyer [PDF]
Native American Community Development
Training Opportunity
The second series of The Native American Community Development
Training curriculum will be offered at the Training Institute
in Minneapolis May 3 – 7. The development of this curriculum,
made possible by a generous grant from Wells Fargo Home Mortgage
on behalf of Wells Fargo Housing Foundation, is specifically
designed to serve the community development needs of Native
American communities. The curriculum will feature a week of
courses tailored to the professional development needs of
Native American community development practitioners and others
working to serve the needs of Indian Country. Scholarship
funds are available that include travel, shared lodging and
tuition.
View
more information
Download
brochure [PDF]
Community Organizing in Community Development
Join us May 3-5, 2004 in Minneapolis for the Community Organizer
Symposium, which will focus on the theme “Community
Organizing in Community Development: Knowing Our Roots, Embracing
Our Values, Refining Our Strategies.” The Community
Organizer Symposium provides the highest quality training
to community organizing and outreach staff for skill-building,
professional development and creative opportunities for networking
with your peers. This year’s events will help you rejuvenate
your spirit, refine your strategies and learn important skills
and tools. Special features of the Community Organizer Symposium
include: choice of 14 courses; site visits to local organizing
efforts; plenary sessions with participatory activities, exchange
and sharing of ideas; and insights from the Community Organizing
Pilot Program on strategies and impacts of community organizing
in community development. View
more information
Download
brochure and registration form [PDF]
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Language
is the Biggest Barrier for Latino Homebuyers
Latino families across the country have become increasingly
interested in buying houses -- but many are having problems
sealing the deal. While some new homebuyers have been helped
by bilingual real estate professionals, many have relied on
their children to translate the difficult homebuying process.
Still, many Latino applicants have insufficient lines of credit,
so loan officers have begun accepting proof of rent and utilities
payments as a way of establishing credit and approving mortgage
applications. Listen
to Marketplace feature. (Scroll down on page.)
Web
Resources Recognize Black History Month
African-American
history is filled with important milestones and breakthrough
achievements. Encarta has compiled a list of 15 notable "firsts"
in the history of African-Americans. Encarta
Site
Great bios of famous
African-Americans are featured on the U.S. Census site. Census
Site
Creating
Great Neighborhoods: Density in Your Community
The Local Government
Commission has released a new publication that defines density
and outlines how increasing density can create a great place
to live. "Creating Great Neighborhoods: Density in Your
Community," produced in partnership with the EPA, uses
case studies to illustrate how increasing density in appropriate
locations can help achieve local economic development goals,
provide housing options, create walkable neighborhoods, protect
air/water quality, and create a sense of place.
Download study.
From
HUD: Energy Efficient Rehab Advisor
This Web site offers
guidelines for conducting energy efficient housing rehabilitation.
HUD recommends following these guidelines when undertaking
any type of renovation project in single and multifamily housing,
whether it is privately-owned or public housing. http://rehabadvisor.com
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