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Five NeighborWorks
Organizations
Receive CDFI Funding
The Community Development Financial Institutions Fund announced
$23 million in Financial Assistance Awards made to 34 certified
CDFIs. Five NeighborWorks organizations received a total of
$3 million in this round of CDFI funding: Charlotte-Mecklenburg
Housing Partnership, Inc., Community Ventures Corporation, Inc.,
HomeSight, Neighborhood Housing Services of Orange County, Inc.,
and Neighborhood Housing Services Silicon Valley. View
article.
New Hampshire Credit Unions Pledge $35 Million
for Affordable Housing Partnerships
Credit unions in New Hampshire pledged $35 million to
fund special affordable housing programs. National Credit Union
Administration (NCUA) and Neighborhood Reinvestment board member
Debbie Matz encouraged credit unions across America to consider
similar partnerships. Housing agencies, such as Manchester Neighborhood
Housing Services, will work with credit unions to identify true
cases of need for either mortgages or emergency loans. The New
Hampshire pledges resulted from a workshop organized by Matz
on November 14 in Westborough, Massachusetts, that brought together
credit unions and New England NeighborWorks organizations to
explore partnerships to promote affordable housing and financial
literacy. The event led to the launch of Matz's Partnering and
Leadership Successes (PALS) initiative. "If 32 credit unions
in New Hampshire can pledge $35 million to affordable housing,
imagine what 10,000 credit unions can do across America,"
Matz said. View
article.
Unity Council's Fruitvale Transit Village
Comes Alive
After a decade of planning and four years of building, the $100
million Fruitvale Village in Oakland was unveiled this month
at a gala event and awards dinner. The San Francisco Chronicle
was among the publications to cover the event. View
article.
To learn more about the project, click
here.
Idaho Congressman Congratulates NHS/Boise for #1 Home Ownership
Production
Idaho Congressman C.L. "Butch" Otter recently congratulated
Neighborhood Housing Services/Boise for being the number one
home-ownership producer in the five-year (1997-2002) national
NeighborWorks Campaign for Home Ownership.
View
article.
NHS/Boise to Receive $100,000 Grant
NHS/Boise is to receive a $100,000 grant from the Paul G. Allen
Foundation for the NHS's CDFI loan fund. Allen was a partner
of Bill Gates in founding Microsoft, and his foundation supports
entrepreneurial endeavors.
NITF Director Elected to National Board
National Insurance Task Force (NITF) Director Todd Pittman has
been elected to the board of directors of the National African-American
Insurance Association (NAAIA). As a board member, Pittman will
take a leadership role in broadening the association's reach
with insurers, from executives to agents. African-American insurers
can play a significant role in bringing affordable and accessible
insurance products to our nation's lower-income and minority
communities,” said Pittman. "This echoes the mission
of the National Insurance Task Force and our objective to improve
insurance services in lower-income and minority communities,
and I think this will be a very productive partnership."
View
article.
FDIC Staff Receives ‘Service to America
Medal ' for Money Smart Program
Nelson Hernandez, national coordinator for community affairs
for the Federal Deposit Insurance Corporation, and his team
received a prestigious public service award for implementing
an adult financial education program that has helped more than
100,000 disadvantaged Americans increase their understanding
of personal banking. The "Money Smart" program has
been widely used in the NeighborWorks network, according to
Neighborhood Reinvestment's Doug Dylla, manager of the NeighborWorks
Campaign for Home Ownership. He estimated as many as 50 NeighborWorks
organizations have used the curriculum in their communities.
View
article.
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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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Mayor
Endorses CATCH's Latest Affordable Housing Project
Concord, New Hampshire Mayor Mike Donovan said CATCH had made itself
welcome in neighborhoods around the city over the last 14 years
by not only building quality housing but by managing its properties
well. "You've earned the strong support that you have from
us," he said of the NeighborWorks organization. A new CATCH
project will house 20 families. View
article.
Boston Globe Article Features Lawrence Community
Works Successes
In a September 21 article the Boston Globe reported how
Bill Traynor, executive director of Lawrence Community Works in
Lawrence, Massachusetts, didn't have a sweeping plan to solve all
of Lawrence's problems. Instead, according to local banker Paul
Miller, Traynor and his organization "proposed simply to improve
a single block by buying four vacant lots, building a two-family
home on each, and selling them to low-income families. Then they
simply did it. It was just a small bite of the apple, but they delivered
on what they promised, and then moved on to the next thing. . .Now
I see houses where we had vacant lots, restoration where I saw broken
windows.'' Miller's bank is helping finance a growing list of Lawrence
Community Works projects, according to the article.
AHC Mixed-Income Development Approved
AHC, Inc., an Arlington, Virginia-based NeighborWorks organization,
recently received county board approval for its Woodbury North Project,
a proposed mixed-income development in the Courthouse neighborhood.
View
article.
Laredo-Webb NHS Announces Affordable Housing Program
for People with Special Needs
Laredo-Webb NHS is one the biggest overall producers of new homes
in the NeighborWorks network. In recent years, the organization
has created 32 units for people with special needs in partnership
with the Texas Department of Housing and Community Affairs (TDHCA)
at a cost of $800,000. Last month, the NHS and its partners announced
the establishment of the "Affordable Housing Program for People
with Special Needs” to build additional units. View
article.
San Antonio NHS Home Features Allows Resident
with Disability to Cook Again
Hector Leyva lost the use of his legs at 16 in a gang fight. Today
Leyva and his family are enjoying a new disabled-friendly home they
moved into with assistance from San Antonio Neighborhood Housing
Services. Leyva, an avid cook, loves the accessible kitchen features.
For article from San Antonio Express News, click
here.
Partnering Up to Make Lead Abatement More Affordable
Twin Cities Community Development Corporation (TCCDC), a Fitchburg,
Massachusetts, NeighborWorks organization, is administering a “Get
the Lead Out” program, which helps low- and moderate-income
households eliminate the problem of lead paint in their homes. View
article.
NHS
of Waco’s Home-Ownership Expo Attracted Nearly 3,000
The NHS of Waco's Home-Ownership Expo, held earlier this year, was
a stunning success. Learn from the marketing savvy of this Texas
NeighborWorks organization. View
article.
Montgomery Housing Partnership Honored
Montgomery Housing Partnership, a NeighborWorks organization in
Wheaton, Maryland, was named 2002 Nonprofit Developer of the Year
recently by the Housing Association of Nonprofit Developers at their
annual award's ceremony. Keynote speaker was Senator Edward Kennedy
(D-Mass.), a longtime affordable housing advocate.
Cabrillo Awarded for Nonprofit Project of the
Year by Southern California Trade Group
Cabrillo Economic Development Corporation was awarded "nonprofit
project of the year" by the Southern California Association
of Non-Profit Housing in the category of home ownership for its
Sycamore Homes project. Los Angeles NHS was also nominated for this
award. Both organizations are members of the NeighborWorks network.
Colorado Rural Housing Wins Eagle Award
Colorado Rural Housing Development Corporation, a Denver-based NeighborWorks
organization, won the prestigious Eagle Award at the Colorado Housing
Now Conference. The award acknowledges excellence in the areas of
affordable housing, development, design, funding and resident-focused
services.
Madison Park Development Corporation Partners
on Rehab of Interfaith Apartments
Boston Capital and Fleet Bank provided more than $7 million in equity
financing for the gut rehabilitation of The Interfaith Apartments,
a portfolio of four historic affordable apartment buildings in Boston.
Interfaith Housing Developers LLC, a venture of Haley House and
Madison Park Development Corp., will rehabilitate the 69 units in
the South End Landmarks District, reports Multifamily Executive
magazine. The funding was through a combination of Section 42 Low-Income
Housing Tax Credits and historic tax credits. The Massachusetts
Housing Partnership, Massachusetts Department of Housing and Community
Development, the city of Boston 's Department of Neighborhood Development,
and the Neighborhood Reinvestment Corporation have committed approximately
$2.2 million in construction and permanent financing. Fleet Bank
will provide a construction/permanent loan for $8.7 million.
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New HUD
Forms
The Federal Housing Administration (FHA) has updated Form
HUD-92564-VC, "Notice to the Lender" (Valuation
Conditions/VC form) and Form
HUD-92564-HS, "Notice to the Homebuyer" (Homebuyer
Summary). Appraisers and Mortgagees may use the new forms immediately.
Mortgagees will be required to use the new forms for all cases
submitted for case number assignments 30 days after the date
of a Mortgagee Letter dated October 16.
HUD Handbook Updated
HUD has entirely updated its handbook "Mortgage Credit
Analysis for Mortgage Insurance, One to Four Family Properties.
To view, click
here, then click on "whats new" link. Included
are all credit policy changes related to loans insured under
Sections 203(b) and 234(c) of the National Housing Act. For
those credit policy revisions not previously announced by the
mortgageee letters, compliance with these instructions is voluntary
immediately and becomes mandatory for all loan applications
signed by the borrowers on or after January 1, 2004.
National Poverty Rises, Rural Rate Unchanged
The nation's official poverty rate rose from 11.7% in 2001 to
12.1% in 2002, the Census Bureau reported. For those living
in nonmetro areas and people in the Northeast, South, and West,
poverty rates stayed at 2001 levels. The nonmetro median income
also remained the same in 2001 and 2002 at $34,654. The South
continues to have the highest poverty rate; Arkansas, Mississippi,
New Mexico, Louisiana, and West Virginia all have a three-year
average of 18% poverty. "Poverty in the United States:
2002" and "Income in the United States: 2002"
are available at http://www.census.gov.
Poverty Mapping Web Site Launched
"Windows on Urban Poverty" at http://www.urbanpoverty.net,
which covers metropolitan areas only, allows users to map poverty,
race/ethnicity, home value, and a few other variables using
Census data from 1970 to 2000. Maps can zoom in to show census
tract boundaries.
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CDFI Funding
Through the FY2003 Technical Assistance (TA) component of
the CDFI Program (which incorporates Native American Technical
Assistance), the FY2003 CDFI Fund provides TA grants to CDFIs,
and entities proposing to become CDFIs, in order to build
their capacity to better address the community development
and capital access needs of their particular target market.
The FY2003 TA/NATA Component will provide TA grants to CDFIs,
and entities planning to become CDFIs, including those primarily
serving Native American, Alaska Native or Native Hawaiian
communities. Subject to appropriations, the Fund plans to
provide up to $13 million in funding in Fiscal Year 2003 with
an additional $3 million available for those entities that
primarily serve Native American, Alaska Native or Native Hawaiian
communities. The Fund expects to make $4.5 million available
in FY 2004.
Eligible types of activities include, but are not limited
to, the following activities: acquiring consulting services;
paying staff salary for the limited purposes of completing
tasks and/or fulfilling functions that are otherwise eligible
TA grant uses under the NOFA; acquiring technology items;
and acquiring training for staff or management. An applicant
may request an amount of any size appropriate to its organizational
capacity, although the maximum award amount is expected to
be up to $50,000 for TA Component awardees and up to $100,000
for applicants principally serving Native American, Alaska
Native, or Native Hawaiian communities. The Fund will accept
and review TA/NATA applications in the order in which they
are received through May 31, 2004 (subject to funding availability).
For more information, click
here.
Fannie Mae Foundation James A. Johnson Community Fellows Program
Nominations are sought for the 5th annual James A. Johnsom
Community Fellows program. The Fellowship program recognizes
and rewards leading community-based urban and rural affordable
housing and community development professionals and gives
them the opportunity to pursue personal and professional development
goals that will encourage them to contribute further to the
housing and community development field. The Fannie Mae Foundation
selects six distinguished professionals as James A. Johnson
Fellows. The fellows receive a $70,000 grant plus a $20,000
educational travel/study stipend to pursue a self-designed,
professional-development track to enhance the individual's
skills and field experiences and to explore new solutions
to current affordable housing and community development challenges.
Deadline for nominations is December 31, 2003. For a further
description of the program, criteria for selection, as well
as the nomination form, click
here.
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The Fourth
Annual CHAM Asset Management Professionals' Conference, December
5-6
This two-day conference will focus on the issues nonprofit asset
managers confront and the skills they require to manage and
move through the various phases of a project's useful life --
from pre-development to management and disposition. Topics include
cutting edge issues such as co-general partners and the challenges
of joint ownership; asset management in mid-life; the syndicator
perspective; insurance options and strategies; organizational
and property performance measures as well as capital needs;
workouts and refinance options for trouble projects; the costs
and benefits of resident involvement; and other asset management
topics from the nonprofit homeownership perspective. Join nonprofit
asset and property managers, CDC executive directors, state
and local housing agency staff, tax credit investors, lenders,
and others for a chance to acquire new sills, examine current
industry trends and network with some of the most talented and
dedicated stewards of affordable housing today! Download
brochure and registration form. [PDF]
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Individual
and Neighborhood Impacts of Neighborhood Reinvestment's Homeownership
Pilot Program
The University of North Carolina report involved a sample
of persons who graduated from home-ownership classes taught
by eight NeighborWorks organizations that participated in
the Neighborhood Reinvestment Homeownership Pilot program.
Building on Neighborhood Reinvestment's Campaign for Home
Ownership, the FY1999-2000 Homeownership Pilot program was
designed to assist low- and moderate-income households to
obtain home ownership by providing them with counseling, down-payment
assistance and affordable loans. For more on the study, click
here.
Predatory Lending Pitfalls and Home Equity Loan Comparisons
Described in New OCC Brochure
The federal Interagency Task Force on Fair Lending has published
a new brochure – "Putting Your Home on the Loan
Line is Risky Business" -- that alerts consumers to potential
borrowing pitfalls, including high-cost home loans, and provides
tips for getting the best financing deal possible. A home
equity loan comparison shopping chart is included with the
brochure. For more information, click
here.
The Case For Inclusionary Zoning
A new PolicyLink report draws on inclusionary zoning successes
from around the country and makes recommendations for expanding
the availability of affordable housing in Washington, D.C.
that apply to other cities as well. Download
study. [PDF]
Coming
Soon from Neighborhood Reinvestment and the Joint Center for
Housing Studies
"Community Development in Dynamic Neighborhoods: Synchronizing
Services and Strategies with Immigrant Communities" by
Catherine Fernandez, and "Sustaining Home Ownership Through
Education and Counseling" by Mark Wiranowski will be
posted soon to Neighborhood Reinvestment's Reports
and Studies Web page. The studies are published by the
Fellowship Program for Emerging Leaders in Community and Economic
Development, a program sponsored by Neighborhood Reinvestment
and the Joint Center for Housing Studies of Harvard University.
Fall
2003 NeighborWorks Bright Ideas Available to Download
The New Rural America and NeighborWorks activity in San Diego
and South Central Texas are among the features in the latest
bright ideas. Download
[PDF]
Minority Home Ownership
Resources Available at NW.ORG/MinorityHomes
Neighborhood Reinvestment has created a Web page for its resources
on minority home ownership.
Visit www.nw.org/minorityhomes.
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