Member Update
CEDAM News & Views: August 1,
2007 | |
|
| State Policy &
Politics... |
CEDAM Releases Recommendations for LIHTC QAP Revision
Process
On behalf of CEDAM's nearly 400 members, including
CDCs, community action agencies, and partners and supporters
of quality affordable housing and neighborhood community
development across the state, CEDAM offers its recommendations
for the MSHDA effort to revise and
improve the LIHTC Qualified Allocation Plan (the
"QAP").
Michigan Foreclosure
Task Force Formed
Following
meetings in Lansing and Detroit in May 2007, several
organizations (including CEDAM) began talking about the
potential to organize a statewide task force to address the
state's
foreclosure crisis in a coordinated fashion. The first meeting
of this newly-formed Michigan Foreclosure Task Force took
place on July 18. A draft working
paper to guide Task Force activities is
available. A second meeting is planned for August 21; to get
involved with the Task Force, please email Angie Gaabo.
In other foreclosure news:
-
CEDAM Executive Director Angie Gaabo was
quoted in a NACEDA press release
discussing the foreclosure prevention efforts of CDCs in
Michigan.
-
Losses in the
fast-unraveling subprime lending market could top $100 billion, but
the Federal Reserve is taking measures to protect
borrowers.
-
As subprime and other nontraditional mortgage
products fall out of favor, Fannie Mae, Freddie Mac, and to
a lesser extent the Federal Housing Administration are
making a long-predicted
comeback.
-
Countrywide was the
first major lender to report rising delinquencies among
prime borrowers with higher credit scores. New data seem to
confirm fears that Countrywide Financial is not the only
lender facing problems.
-
This past week, Maine passed strong, model anti-predatory
lending legislation, making it one of more than two
dozen states that have taken specific action to provide
stronger protections to homeowners. Congress recently held
hearings related to the foreclosure crisis in the subprime
market and is contemplating stronger
protections.
CEDAM Updates - Survey,
Newsletter, and 2008 Affordable Housing Conference
 Last week, CEDAM sent out a Member Opinion Survey
in an attempt to get feedback on how we can better serve our
members. If you are a member and have not yet taken it, please
do it now - it is short and completely online.
Also, watch your mailboxes for CEDAM's summer newsletter
- hard copies are being sent out in tomorrow's mail.
Lastly, if you are interested in being involved with the
organization of next year's Michigan Conference on Affordable
Housing,
held at the Lansing Center from April 28-30, 2008, please
contact Emily
at CEDAM for more information. Also available at the
conference website is the conference presentation
proposal form.
Legislative Tracking Service Available
On-line
 Visit CEDAM's Public Policy Portal for current legislative
information affecting our
industry. |
| National Outlook... |
National Governors' Association Meeting
Focuses on Globalization
 This year's annual summer meeting of the
National Governors' Association in Traverse City focused on
using innovation to drive economic growth and success in a
global economy - a topic that every state in the nation is
discussing. In Michigan, an aggressive economic plan to help
those families who are hurt by globalization get back on their
feet has already been started; other Governors are looking to
do the same. Governor Janet Napolitano of Arizona is quoted as
saying, "We've taken to this initative under the
realization that if the U.S. wants to continue to survive and
thrive we must re-think what we are doing in education and the
needs of the work force."
Federal FY08 Appropriations: Housing
Programs Generally Do Well
In passing
Transportation-HUD spending bills during the week of July 9,
the U.S. House and Senate Appropriations Committees increased
CDBG, HOME, Section 8, and HOPE VI among other programs,
rejecting cuts and eliminations proposed by the Bush
Administration. Details are available on-line.
NACEDA Regional Meeting Held in
Chicago
|
Last week,
CEDAM staff had the opportunity to meet with representatives
from other state CED associations by attending a conference in
Chicago put on by the newly-formed National
Alliance of CED Associations (NACEDA). As NACEDA is
still in its infancy, CEDAM was able to provide input on the
direction in which the Alliance will be heading. NACEDA will
be key in representing CDCs at the national level, and
entering into policy discussions which will impact our
industry. We will continue to share information with you about
NACEDA and the important work that they will be doing on our
behalf in Washington.
CRA Modernization Act of 2007, Small Business
& CD
Data Available
In the coming months, the National
Community Reinvestment Coalition (NCRC) and its
600 community member organizations will mobilize behind the
CRA
Modernization Act of 2007 and
advocate fervently on its behalf. The act would increase the
application of CRA funding, as well as increase the funds in
working class and minority communities. Featured in the summer
edition of NCRC's publication Reinvestment
Works, it is noted
that the CRA
Modernization Act of 2007 represents one
of the most significant economic and community development
proposals of the last several decades.
Also, the Federal Financial Institutions Examination
Council (FFIEC) announced the availability of data on small
business, small farm, and community development
lending
reported by certain
commercial banks and savings institutions in accordance with
the Community
Reinvestment Act (CRA). The
updated Home Mortgage
Disclosure Act (HMDA) data will be
available in September. |
| Members & Partners
Spotlight... |
| Summer at
Creekside CDC is Full of
Family Fun |
 Creekside CDC in
Detroit recently sent out their first ever e-update. They
noted that their Sizzling Summer Fun event, featuring
refreshments, mini-golf, moonwalks, music, and more
is coming up on Saturday, August 18th at Alfred Brush-Ford Park
from 1-4pm (contact Bridget for more details).
Additionally, their newest housing development, Creekside West, is
ready for families to start moving in. Down payment assistance
is available; contact Sam for more
details.
|
| Resources, Trainings, &
Events... |
| Green Communities Audioconference
THURSDAY |
|
 On
Thursday, August 2, at 2 p.m. ET, Enterprises' Green
Communities program (featured on KnowledgePlex) will
offer a live online event to help people understand the impact
of using trees strategically in communities, how to create a
positive environment through the good use of trees in housing
projects, and how to access grant money for trees. For more
information, check out the KnowledgePlex webinar
site.
Homeless
Families Research
On Thursday,
August 9 at
3
p.m. ET,
the Leadership to End Homelessness Audio Conference
Series will host a discussion based
upon research on "Homeless Families Typology." Also, the
National Alliance to End Homelessness has made a research agenda to
inform government agencies and philanthropic
organizations.
Vacant
Properties Conference: September 24-25, 2007
 The National
Vacant Properties Campaign will sponsor a national conference
in Pittsburgh
- Reclaiming Vacant
Properties: Strategies for Rebuilding America's
Neighborhoods. This is the first national conference
focusing on helping to realize the potential of vacant
properties as community assets. Highlighted strategies will
ensure the properties benefit the residents, communities, and
cities around them.
Have you been search for new grant opportunities? Look no
further!
The Wachovia and MacArthur
Foundations' Opportunity
Finance Network is
offering a 5-year, $42 million grant program for
low-income business, affordable housing and community service
efforts beginning this December. The due date for applications
is August 20. For more information, please call the
MacArthur Foundation at (312) 726-8000 and the Wachovia
Foundation at (404) 214-3970.
The Department of Housing and
Urban Development (HUD) is offering grants up to $1
million to small town governments to replace unused commercial
space with affordable housing. The HOPE VI Main
Street Program targets places with
fewer than 50,000 residents and fewer than 100 units of public
housing. The deadline for applications is August 29. Please
contact Lawrence
Gnessin with
questions.
The Kresge
Foundation has two
grants available, ranging from
$100,000 to $3,000,000: their Green Building Initiative and
their Detroit Initiative. The deadline for applications is
August 10.
Michigan Economic Developers Association
Conference
The Michigan Economic
Developers Association (MEDA) is having their conference next month
in Boyne Falls. One of CEDAM's members, The MSU Center for
Community & Economic Development, is pleased to be a
co-sponsor this year's event, which is focused on the topic of
economic development in the knowledge economy. The conference
registration deadline
is August 10.
Other Resources
For information on other upcoming
training opportunities, don't forget to visit MITTAC - the Michigan Training and Technical
Assistance Collaborative.
CEDAM's Career Corner is also frequently updated
with job openings in the Community Economic Development
industry. New positions are added often! | |
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Compliments of CEDAM
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