Senate Finance Committee Introduces Bill for Jobs, LIHTC Exchange Extension. On February 11, Committee Chair Max Baucus (D-MT) and Ranking Member Charles Grassley (R-IA) introduced the Hiring Incentives to Restore Employment Act (HIRE), which contains one LIHTC provision to extend the 9 percent exchange program. The Senate and House last week also passed a jobs bill, H.R. 2847, but it does not include LIHTC provisions. See Baucus-Grassley bill summary; Reid bill summary.

Congresswoman Sanchez Introduces Bill to Extend LIHTC Exchange and Bonds. On February 24, Rep. Linda Sanchez (D-CA) introduced H.R. 4687, the Low Income Housing Tax Credit Exchange Expansion and Job Creation Act, which would extend for one year the ARRA-enacted LIHTC 9% exchange, and allow new LIHTC 4% exchange. See Linda Sanchez press release.

HUD Secretary Shaun Donovan Testifies on FY 2011 Budget. On February 23, Secretary Donovan testified before the House Appropriations Transportation and HUD Subcommittee. His testimony emphasized the role of the LIHTC program and private investment in the production of affordable housing. In reference to consolidation of the Public Housing Capital Fund, Section 202, Section 811, and other capital program funds, he indicated that HUD views the private capital leveraged by LIHTC as a primary source of capital financing for affordable housing moving forward.

Executive Changes at Ginnie Mae and the Federal Reserve. On February 24, Ted Tozer was sworn in as the new president of the National Government Mortgage Association. Tozer brings to Ginnie Mae experience in executive banking at National City Bank/PNC and in secondary and capital markets. On March 1, Don Kohn, Vice Chair of the Federal Reserve Board (which consists of seven governors), announced his retirement after 40 years of federal service.

FHFA Extends HARP Modifications One Year. To continue providing homeowners the opportunity to refinance their mortgages and avoid foreclosure, the Federal Housing Finance Agency announced it would extend for one year the Home Affordable Refinance Program (HARP), which had been set to expire June 20. Established in February 2009, HARP is a program within the Administration's larger Making Home Affordable Program. Fannie Mae and Freddie Mac administer the program with banks and backed 190,000 refinanced mortgages in 2009. See FHFA announcement.

Senate Debates Consumer Financial Protection Agency. In December, the House passed a bill that would create a stand-alone Consumer Financial Protection Agency with the power to write and enforce rules covering mortgages, credit cards and other financial products, without obtaining approval from other bank regulators. The proposed agency has become a sticking point in Senate negotiations on President Obama's proposal to overhaul financial regulation. Senate Banking Chairman Christopher Dodd (D-CT), who introduced the original bill to establish a stand-alone CFPA, tried to resolve the consumer piece of the regulatory overhaul by moving the proposed agency to Treasury or the Federal Reserve. A coalition of consumer groups, labor unions, and civil rights activists met with Treasury Secretary Timothy Geithner and senior White House advisor Valerie Jarrett on March 3 to discuss joining forces to push for an independent consumer financial agency.

Congressman Perlmutter Introduces Livable Communities Act. On February 25, Rep. Ed Perlmutter (D-CO) introduced the House version of the Livable Communities Act, H.R. 4690. Last August, Senator Christopher Dodd (D-CT) introduced companion legislation that would create competitive planning grants to fund comprehensive long-term plans to integrate transportation, housing, land use, and economic development; provide Challenge Grants awarded to local communities over three years to fund the implementation of these integrated regional plans; and establish a federal Interagency Council Sustainable Communities.

Obama Administration Addresses Foreclosures in Five States. On February 19, the President announced a $1.5 billion program for state housing agencies in California, Florida, Nevada, Arizona and Michigan, which have seen home price declines of 20 percent or more since the peak of the housing bubble. Some concern has been expressed about other high-foreclosure states. See White House press release.

HUD and Partners Launch www.PreventLoanScams.org. On February 26, HUD launched a new Web site that provides homeowners with a single location to report alleged scammers in partnership with the Loan Modification Scam Prevention Network, a national coalition of public and private enterprises including the Lawyers' Committee for Civil Rights Under Law, Fannie Mae, Freddie Mac, the Homeownership Preservation Foundation, and NeighborWorks America. Complaints filed through www.PreventLoanScams.org are added to a national database and forwarded to the appropriate law enforcement agencies. HUD directed its local fair housing and housing counseling grantees to begin reporting alleged scams via the Web site. See HUD Press Release.

EPA Accepting Applications for Two Smart Growth Awards Programs. The National Award for Smart Growth Achievement recognizes public- and private-sector entities that used smart growth principles to improve communities environmentally, socially, and economically. Deadline: April 15. The Smart Growth Implementation Assistance Program offers direct technical assistance from national experts to communities, tribes, regions, and states that want to incorporate smart growth techniques in their development. Letters of interest are due by 3:00 p.m. April 9.

Contact Your Congressmembers to Support LIHTC. Congress continues to consider legislation to support the LIHTC 9 percent exchange extension and 4 percent exchange, increase the time period in which investors may carry back LIHTC investment to 5 years, and expand investors eligible for LIHTC to include S corporations, LLCs, and closely held corporations to secure equity capital. Contact your House and Senate members today to co-sponsor Senate legislation and House legislation H.R. 4687 and H.R. 4109.

Register Now and Save for NACEDA Summit May 24-26 in Washington, DC -- Early Bird Rates Through April 9. A new day-long symposium for practitioners will feature sessions on rebuilding local economies, alternative financing tools, and new economic priorities for foundations. Meet with Members of Congress on Capitol Hill Action Day. Register by April 9 for reduced rates: $155 for full conference; $95 for practitioner day only. Regular rates apply after April 9: $200 for full conference; $110 for practitioner day only. Special hotel rates available in limited numbers. Register and pay online at the NACEDA website.

NACEDA and Coalition Request Adequate FY11 Congressional Budget Funding Level. On March 1, the Campaign for Housing and Community Development Funding sent a letter to the Senate and House Budget Committee Chairs and Ranking Members requesting their support for adequate budget allocations in the FY11 Budget Resolution for housing, community development, homelessness, HUD, USDA and other issues. The funding amounts will set the stage for appropriations action later this year.

Next HOME/CDBG Task Force Meeting: March 9, 2010 at 3:00 p.m. EST. NACEDA members and CHDO/CDC practitioners are invited to join the next HOME/CDBG Task Force conference call. The purpose of the Task Force is to examine the challenges and benefits of the CDBG and HOME Programs, including program priorities, collaboration with PJs, HOME productivity, and understanding community-based needs. To participate, contact Rachel Audi, Director of Government Relations, at (202) 659-7701 or raudi@naceda.org.

NACEDA/LISC State Policy Conference Call. On March 16 at 2:30-3:45 p.m. EDT, NACEDA and LISC will host a conference call regarding successful practices in communications, messaging and advocacy. NACEDA President Diane Sterner of New Jersey, Liz Hersch of the Housing Alliance of Pennsylvania, and ActionMedia are speakers. To RSVP, please email Derek Watkins at dwatkins@naceda.org.

Final MNC Competition Focuses on Equitable Revitalization; Combines with Building Markets Competition. NACEDA will begin accepting submissions today for the final Managing Neighborhood Change Competition: "Strategies to Ensure Equitable Neighborhood Revitalization." The goal of the competition is to identify innovative strategies employed by CDCs and social purpose organizations that preserve affordable housing, prevent displacement and build existing residents' economic resources. As this competition builds off the prior competition's goal of identifying initiatives that achieve stability and improve quality of life, submissions will still be accepted for the Building Markets competition as well. Deadline: April 9. A single winner will be awarded $500. Go to the MNC website to make your submission.

Greg Sterns, Manager of Financial Education and Counseling for Lighthouse Community Development, addresses 80 Michigan State Legislators.

Michigan Foreclosure Task Force Makes Foreclosure 101 Presentation to State Legislature. On February 23, the Michigan Foreclosure Task Force, a consumer-focused coalition of nearly 300 nonprofit organizations and individuals, briefed more than 80 state legislators and their staff on Michigan's foreclosure crisis and the resources available to help homeowners. Members of the Task Force include nonprofit housing counselors and state and local government agencies, and they organized the bipartisan event with Michigan Speaker of the House Andy Dillon (D) and Michigan Senate Majority Leader Michael Bishop (R). Foreclosure 101 handouts are available on the CEDAM website.

New Study Examines Fiscal Health of the Massachusetts CDC Sector. On February 26, the Massachusetts Community Development Innovation Forum released a new study by the Non Profit Finance Fund on fiscal health of the CDC sector. Key findings include:

• Financial challenges facing community development corporations have worsened during the recession, but predate the 2008 recession.
• CDC financial performance was not demonstrably better during the hot real estate market in the middle of the decade due to program limits on rents and profits.
• There was no significant difference in the financial performance of small, medium and large CDCs.
• Financial performance varied among CDCs with some showing strong durability and others showing serious challenges.

MACDC provided research and funding support for the study. MACDC President and NACEDA Treasurer Joe Kriesberg reports on his blog about the study and the many actions CDCs, MACDC and others are taking to strengthen the sector in Massachusetts.

Community Economic Development Association of Michigan Announces Policy Agenda for 2010. On March 2, CEDAM announced its policy agenda, which includes efficient and effective distribution of NSP1 and NSP2 awards, increased low income housing tax credits investment, strict constraints on predatory lending, strong FY 2011 federal budget allocations on housing and community economic development programs and increased public access to broadband in rural communities.

Transportation Equity Network Wins $70M Victory in San Francisco Bay Area. TEN Bay Area member Genesis won a major victory when the Federal Transit Administration withdrew $70 million in stimulus money from Bay Area Rapid Transit for failing to address potential violations of the Civil Rights Act in its planned development. Genesis objected to MTC and BART's intention to use $70 million in federal stimulus money to build an airport connector and is advocating for them to use the money to support existing transit. Visit TEN website.

HUD Sustainable Housing and Communities Listening Tour -- Webcast Sessions on March 9 and 11. HUD Deputy Secretary Sims and new HUD Director of the Office of Sustainable Housing and Communities Shelley Poticha will listen to citizens to learn how the new Sustainable Communities Planning Grant program can best be used to spur local innovations. Two sessions will be conducted nationally via Webcast, on March 9 and March 11 at 1:00 p.m. EST. In addition, local sessions will be held in Los Angeles, St. Louis, Hartford, and Cleveland. Sessions have already been held in Miami, Denver, and Albuquerque. Visit the Sustainable Housing and Communities website for information links on the program, including Advanced Notice and Request for Comments (due March 12).

NCRC 2010 National Conference -- March 10-13 in Washington, DC. Foreclosure prevention, consumer protection, fair housing, financial regulatory reform, job creation/green jobs, access to loans for small businesses, community reinvestment, and preservation of affordable housing are among the many topics in workshops and plenary sessions. Senator Al Franken (D-MN) will address this special 20th Anniversary Celebration of the National Community Reinvestment Coalition. (Conference website)

National Housing Conference Hosts HUD Budget Overview -- March 12 Washington, DC. NHC will host its annual overview of the President’s budget for HUD from 9:30 to 11:30 a.m.. Speakers include Jonathan Harwitz of HUD, Nan Roman of the National Alliance to End Homelessness, Sheila Crowley of the National Low Income Housing Coalition, and Sarah Wartell of the Center for American Progress. For more information: www.nhc.org.

Transportation Equity Network (TEN) Conference -- March 15-16 in Washington, DC. Learn how to set goals for state and regional transportation planning and funding, to create safe streets for all users, and to build support for public transit. (Conference information)

"A Whole New World: Building Strong Relationships with Donors in a Contracted Economy" -- March 16 in McLean, VA or via the Web. This session is part of the Nonprofit Conference on Fundraising Development Speaker Development Series. Participate in-person and via the web from 8:00 a.m.-12:00 p.m. EDT. Registration: $25.00. (Registration and information)

Enterprise Green Communities Offers Two Live Online Events.

• Green Communities Certification Process -- March 17, 2:00-3:00 p.m. EDT. Provides affordable housing developers and policymakers with an opportunity to understand the requirements for Green Communities Certification and learn how to successfully complete application materials. (Register.)
• Introduction to Green Communities NSP Webpage -- March 25, 1:00-2:00 p.m. EDT. Understand how GreenBuildingAdvisor.com can be used as an information tool for green rehabilitation projects and learn about the upcoming features. No registration necessary. Join the session through the following website, about 5 minutes before the session begins: http://buildinggreen.acrobat.com/ecpweb1

"The Future of the Nonprofit Sector in Delaware and the Nation" -- March 22-23 at University of Delaware, Newark. This conference is part of the University of Delaware "Creating Knowledge-Based Partnerships" series. Action steps identified at the conference will become a work plan for sustained partnership efforts. $75 registration fee. (Conference information)

NLIHC Annual Housing Policy Conference -- April 11-14 in Washington, DC. HUD Secretary Shaun Donovan will address the National Low Income Housing Coalition Conference and Lobby Day. (Conference information)

Regional Forums Seek to Preserve Affordable Rental Housing. The National Housing Conference and the John D. and Catherine T. MacArthur Foundation will present three 2010 "Partners in Innovation" regional forums:

• Boston, MA on April 14 -- Partners in Innovation: Preserving Affordable Rental Housing through Energy Conservation.
• Portland, OR on May 17 -- Partners in Innovation: Financing the Preservation of Rural and Urban Affordable Rental Housing.
• Denver, CO on September 28 -- Partners in Innovation: Preserving Affordable Rental Housing Near Transit.

(Complete information)

HAC's "Building Green in Rural America: A Symposium on Policy and Practice" -- June 9 in Washington, DC. Sponsored by the Housing Assistance Council and The Home Depot Foundation, the conference features local housing developers who have successfully used a wide range of sustainable and green practices in their rural homeownership and rental projects. Capitol Hill, 8:00 a.m. to 2:00 p.m. (Conference information)

Government Accountability Office Releases Reports on Disaster Assistance, Native American Housing and New Markets Tax Credits:

• Disaster Assistance: Federal Assistance for Permanent Housing Primarily Benefited Homeowners; Opportunities Exist to Better Target Rental Housing Needs;
• New Markets Tax Credit: The Credit Helps Fund a Variety of Projects in Low-Income Communities, but Could Be Simplified;
• Native American Housing: Tribes Generally View Block Grant Program as Effective, but Tracking of Infrastructure Plans and Investments Needs Improvement.

Policy Briefs Discuss Impact of Transportation Reform on Housing Affordability, Accessibility for Low-Income Households. The Center for Housing Policy (CHP) and the Metropolitan Planning Council (MPC) released two policy briefs: How Transportation Reform Could Increase the Availability of Housing Affordable to Families with a Mix of Incomes Near Public Transit, Job Centers and Other Essential Destinations; and Regional Coordination in Atlanta Metro and in the Twin Cities: Understanding the Challenges and Opportunities of Coordinating Housing, Transportation and Workforce Policies. Click here to access the reports.

Free Report on Sustainable Development Available. The Partnership for Sustainable Communities, a new nonprofit based in California, is offering a 30-page report titled Beyond Green Building: How to Get Deals Done in the New Era of Sustainable Community Planning and Development. The Partnership for Sustainable Communities is to promoting land use reform, including higher density zoning, infill development and measures to encourage affordable housing. To receive a link to this free publication, visit www.p4sc.org and sign up for their mailing list.

Center for American Progress Proposes Turning Foreclosure Liabilities into Green Assets. The Center for American Progress has released a memo detailing how the foreclosure crisis can lead to opportunities to create green rental homes.

Executive Director, Oregon Opportunity Network. Salary range: $60,000-$65,000 plus benefits. Closing date: March 15. (Job announcement)

Community Economic Development Director, Hacienda CDC, Portland, OR. Approximate annual salary: $55,000-$60,000. Closing date: March 15. (Job announcement)

Post a Job Opening. NACEDA is pleased to post job openings for NACEDA members and partners. Please send the job title, organization, location, salary range and closing date as well as a link to an online job posting to info@naceda.org.

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.

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