Foreclosure Filings Up 7% in May from April and 48% from Previous May, according to the foreclosure listing service RealtyTrac Inc. From May 2007 to May 2008 the nationwide numbers of homes receiving at least one foreclosure-related filing were 176,137 and 261,255. One in every 483 households received such a filing last month, setting a new record for the second consecutive month. About 50 to 60 percent of them are likely to lose their homes, according to Rick Sharga, RealtyTrac's vice president of marketing. All but 10 states saw an increase during the past year. Nevada, California, Arizona, Florida, and Michigan had the highest rates.

Largest Housing / Community Development Bond Bill in Massachusetts History:

The Massachusetts Association of CDCs worked in coalition to pass the five-year housing bond legislation ensuring $1.225 billion will be available to build and preserve affordable housing in the Commonwealth. It was signed into law on May 29 at affordable apartments developed and managed by an MACDC member, the Allston-Brighton CDC. The bond bill ensures the ongoing funding for the Affordable Housing Trust Fund ($220 million), the Housing Stabilization Fund ($125 million) and the Housing Innovations Fund ($75 million). An Act Financing the Production and Preservation of Housing for Low and Moderate Income Residents can be found online.

The Housing and Community Development Network of New Jersey held its Lobby Day 2008 on June 5 in Trenton. More than 100 participants spoke to scores of legislators about their issues. In addition, both of the housing bills that were before the New Jersey Assembly committees on June 5, and which the Network supports, advanced in the legislative process. The foreclosure prevention bill, A2517, passed out of the Assembly Housing and Local Government Committee. It will now go to the Assembly Appropriations Committee. Donna Turner, from AHOME in Millville and Olga Montero, from Brand New Day in Elizabeth, NJ, gave moving testimony about the work they are doing in their communities and how that work can benefit from passage of the bill. At HCDNNJ's Semi-Annual Membership Meeting on June 11 in Trenton, members discussed the Network's proposed agenda for equitable and sustainable development of our cities, as set forth in its latest report, New Jersey and Its Cities: An Agenda for Urban Transformation.

Indiana Association of Community Development Associations Regional Meeting: June 18 in Fort Wayne, Ind. The tentative agenda includes conversations with Andy Fraizer (IACED Executive Director) and Sherry Seiwert (Executive Director for the Indiana Housing and Community Development Authority); Public Policy Update and 2009 Legislative Agenda; and IACED Training Update. RSVP to Caroline Lampert, (317) 920-2300 ext 10.

The Enterprise Foundation, in collaboration with the National Foreclosure Prevention and Community Stabilization Task Force, of which NACEDA is a member, is launching a new campaign and website: Save America's Neighborhoods. These campaign advocacy and supporting materials can be viewed at: www.saveamericasneighborhoods.org. Materials include Neighborhood Stabilization Funding Fact Sheet, Action Alert and a sample field letter to members of Congress. Also available are side-by-side comparison of House and Senate housing legislation and state fact sheets on impacts of potential stabilization funding. The website provides information and testimony from members of Congress, national experts and state and local officials. The letter from the Task Force to Congress, to which NACEDA signed on, is also available at the site. The letter praises the April 2 Senate-passed housing legislation and encourages that adoption of a mortgage restructuring plan be included. Feedback to the website and materials is encouraged.

NeighborWorks America Offers Foreclosure Prevention Counseling Course Online to nonprofit community and others, is expected to offer three non-foreclosure-related online courses later this year, and has created an online learning center. as highlighted by CD Digest. The intent behind "Foreclosure Basics" is to accelerate the numbers of foreclosure trainees, according to John McCloskey, NW Deputy Director of Training. Info: www.nw.org/onlinereg.

Save the Date: NeighborWorks Training Institute: August 18-22 in Chicago, offering a symposium "Organizing in the Face of Foreclosure: What Can Communities Do?" among more than 100 courses offered in community building, neighborhood revitalization, green building, affordable housing, homeownership education, management and leadership. Early-bird registration, saving $50, ends July 7. (Info.)

Housing Trust Fund Letter Sent to Sen. John Kerry (D-MA) and 22 other co-sponsors of the National Affordable Housing Trust Fund Act of 2007 (S. 2523), as reported by the National Low-Income Housing Council. In the June 5 letter, the National Housing Trust Fund Campaign thanked them for their support of that bill and urged support for the Federal Housing Finance Regulatory Reform Act of 2008, for which action is expected from the Senate before its July 4 recess despite a busy Senate schedule. That as yet unnumbered bill, which the Senate Banking, Housing, and Urban Affairs Committee approved by a 19-2 vote on May 20, would reform the government-sponsored enterprises Fannie Mae and Freddie Mac and create the housing trust fund.

HUD Asset Management Bill Introduced on June 9 by Rep. Albio Sires (D-NJ), in his third attempt at such legislation, as reported by CD Digest. The Asset Management & Improvement Act of 2008 (H.R. 6216), like previous versions, would exempt from HUD asset management requirements public housing agencies operating fewer than 500 units, New language would allow PHAs to terminate tenants for illegal use of firearms. The new bill excludes community service requirement language that had been added to the second version.

NAHASDA Reauthorization Approved by Senate unanimously on May 22. S. 2062 will need to be reconciled with the House-passed H.R. 2786, which would deny Native American Housing Assistance and Self-Determination Act funding to the Cherokee Nation of Oklahoma unless it restores the tribal citizenship of the Freedmen, descendants of former slaves, as reported by the Housing Assistance Council.

'Green Act' Hearing Held on June 11 by the House Financial Services Committee. The Green Resources for Energy Efficient Neighborhoods Act of 2008 (H.R. 6078), introduced by Rep. Ed Perlmutter (D-CO), would raise the bar for environmental performance in affordable housing. Enterprise Community Partners President and CEO Doris Koo said: "This legislation thoughtfully builds on lessons learned through the Enterprise Green Communities® initiative" and underscored the linkage among housing, transportation, health and environmental challenges facing low-income families. H.R. 6078 would among other provisions grant $50 million over five years to nonprofits for community development, and encourage green mortgages--for public housing convenient to public transit, employment, etc. The mortgages would be insured by government-sponsored enterprises Fannie Mae and Freddie Mac.

Connecticut to Provide $6.2M for Five Green/Smart Growth Affordable Housing Projects in 2008, according to Gov. M. Jodi Rell (R). For Metro Green Apartments (Stamford) and 16 Bank St. (Seymour), the state will tap its five-year, $110 million Housing Trust Fund. The other recipients are Jessica Tandy Apartments (Bridgeport), Victory Cathedral (Hartford), and Marian Heights (New Britain).

Pennsylvania Economic Development Website Gets 'C' Grade on Grant Recipient Monitoring. The state ranked 12th overall and fourth on ease of website use, according to a Washington, D.C., economic policy group, Good Jobs First. It ranked lower in other regards. Good Jobs First sought to answer: How easily can the public find out details online about who's getting the money and why? and How easy is it to find out whether those companies kept their word? Pennsylvania business have tapped into at least $1.9 billion in state funding over the past five years. The full Good Jobs First report is accessible online.

HUD to Use American Community Survey Data to determine eligibility for HOME Investment Partnership and Community Development Block Grant programs for FY 2011. The ACS data, containing five-year averages, is seen as a way to moderate the occasional massive changes that local public housing agencies face during 10-year periods. The Census Bureau uses ACS data to fill in gaps in 10-year population census data.

Non-Metro CRA Credit Areas 2008 List Released on May 30 by the federal agencies that regulate banks and thrifts, designating places where bank revitalization or stabilization activities will receive consideration as community development under the Community Reinvestment Act. See press release, list.

Section 202/811 Final Rule Revised to allow use of HUD funds for dishwashers and clarify applicability of project design and cost standards in group homes in the program. See Federal Register, 5/23/08, pp. 29983-85, http://edocket.access.gpo.gov/2008/pdf/E8-11619.pdf. Contact Yvonne Jefferson, HUD, (202) 708-3000.

Clustering, Conservation Key to Rural Smart Growth, according to a panelist at a conference of the National Association of Home Builders. Curtis Sparks of North American Wetland told the National Green Building Conference that the dense housing / open space method helps preserve a rural feel--a selling point that in effect boosts property values.

'MetroPolicy' of Improved Federal Support Recommended for Nation's Economy in June 12 report from the Brookings Institution. According to MetroPolicy: Shaping a New Federal Partnership for a Metropolitan Nation, the next Administration and Congress should lead and encourage cities to innovate in addressing local conditions affected by globalization, wage stagnation, and climate change. Info: www.blueprintprosperity.org or call (202) 797-6000.

Subprime Facts: What (We Think) We Know About the Subprime Crisis and What We Don't, a study released on May 30 by the Federal Reserve Bank of Boston, makes seven claims, some of them contradicting conventional media wisdom. The authors claim, for one, that adjustable-rate subprime balloon mortgages cannot be a significant cause of the crisis because they by and large do not exist. The authors disclaim that while some of their assertions may be applicable nationally, others may illustrate problems particular to Massachusetts and New England.

'LEED 2009' Proposed Changes. The U.S. Green Building Council is looking to improve the Green Building Rating System for commercial buildings in its Leadership in Energy & Environmental Design. Deadline: June 22 (first of two rounds).

Bank Enterprise Awards program, including how banks and thrifts use BEA funds. Deadline: July 7. See Federal Register, 6/4/08, pp. 31917-18 or http://www.cdfifund.gov. Contact Community Development Financial Institutions (CDFI) Fund staff, cdfihelp@cdfi.treas.gov, (202) 622-6355.

Section 8 Removal of Most 50th Percentile Fair Market Rent Areas during FY 2009, for reasons relating to performance, according to HUD proposal listed in June 12 Federal Register. Deadline: August 8.

Circular A-133 2008 Supplement from the Office of Management and Budget, regarding audits of nonprofits, states, and local governments. Deadline: October 31. See Federal Register, 6/5/08, or White House website, or purchase a copy from the Government Printing Office, (202) 512-0132.

Our thanks to Housing Assistance Council, U.S. Department of Housing & Urban Development, National Low-Income Housing Council, CD Digest, Pittsburgh Post-Gazette, and Associated Press.

Copyright © 2008 by NACEDA. All rights reserved. Any republication must be credited to NACEDA.