Member Update
CEDAM News & Views: August 9,
2007 | |
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| CEDAM News... |
CEDAM Survey - Please take it right now! It only takes 5
minutes.
The deadline for our Member Opinion
Survey is this Friday, August 10th, at 5pm EST.
We want feedback on how we can better serve our members. If
you are a member and have not yet taken it, please take
it right now! |
| State Policy &
Politics... |
QAP Dialogue Scheduled for August 30 in
Flint
Within the coming weeks, MSHDA will
release a modified Qualified Allocation Plan (QAP) for federal
Low-Income Housing Tax Credits in Michigan. CEDAM is hosting a
dialogue with MSHDA staff and our members on Thursday, August
30th, at 3:00PM in Flint (exact location to be determined) to
discuss these changes in advance of public hearings in
September. Once the new QAP is released, CEDAM will prepare an
analysis comparing it to the existing QAP and
identifying whether/where it responds to recent CEDAM recommendations
and CDAD recommendations
for improvement.
IF YOU USE LIHTC PLEASE MARK YOUR CALENDAR
FOR AUGUST 30 @ 3PM AND PLAN TO ATTEND THE DIALOGUE IN
FLINT.
Michigan's Housing & Community
Development Fund increases momentum, NEEDS YOUR
SUPPORT! |
 On
Tuesday, August 7, Representative Steve Tobocman and Senator
Mark Jansen hosted an informational program at the State
Capitol to discuss progress that has been made in obtaining
funding for Michigan's Housing & Community Development
Fund (MHCDF). That morning, the House Appropriations Economic
Development subcommittee passed a budget containing a
placeholder for the Fund. This is an important milestone as we
move forward in our efforts to have the MHCDF funded in
FY08.
Living in Michigan
Coalition members were also present to discuss grass-roots
advocacy efforts surrounding the Fund. A video highlighting
Advocacy Day 2007 and new advocacy resources are now available
on the website.
WE NEED YOUR SUPPORT FOR THE FUND! There
are several easy things you can do to support our
efforts:
- Write a letter to your legislator in support of the
Fund. A sample letter is
available.
- Send an email to your legislator in support of the Fund.
A sample email is
available.
- Set up a meeting with your legislator to discuss your
work, your organization, and the impact the MHCDF would have
on your work.
CEDAM is available to assist with all of these efforts.
Please contact us should you need
assistance. Legislative Tracking Service
Available On-line
 Visit CEDAM's Public Policy Portal
for current legislative information affecting our
industry. |
| National Outlook... |
Foreclosure News Continues to
Accumulate
A North
Carolina bill that would strengthen mortgage lending
requirements is catching the attention of federal lawmakers as
a model for national reform. Also, the US Office of Thrift
Supervision on Friday became the first regulator in more than
two decades to pursue a rule defining unfair and deceptive
lending practices. Articles available on-line (log-in
required).
As a wave of
mortgage foreclosures buffets financial markets and feeds
voter economic anxiety, Democratic
presidential candidates are jockeying
to get ahead of the emerging issue.
In
Massachusetts, the administration of Governor Patrick is
considering a plan that would
make mortgage lenders pay moving expenses as well as the first
and last months' rent of homeowners who lose their homes to
foreclosure.
Strong new
laws against
predatory lending took effect in Minnesota August 1. Mortgage
brokers in Minnesota will now be required to act in customers'
best interests, and lenders are prohibited from issuing
mortgages that borrowers cannot repay. The new laws also ban
prepayment penalties on subprime loans and put in place a host
of other much-needed consumer protections.
The Office of the Comptroller of the Currency
(OCC) has published Foreclosure Prevention:
Improving Contact with Borrowers, a report on the
best practices loan servicers are using to improve contacts
with delinquent borrowers.
Largely Restored HUD Funding Bills Advancing;
Veto Possible
The full House and the Senate Appropriations
Committee in late July passed FY 2008 Transportation and HUD
funding bills generally rejecting cuts and eliminations that
had been proposed by the Administration (which would have
affected CDBG, HOPE VI, HOME, and similar programs). The
Administration has indicated that it will veto the bill
because it exceeds the President's Budget discretionary
spending target. The full Senate likely will not consider its
committee bill until after Labor Day.
Trust Fund Bill Advances
The House Financial
Services Committee on July 30 passed the National Housing
Trust Fund Act of 2007 to aggregate funds from multiple
sources, including Fannie Mae, Freddie Mac, and FHA reverse
mortgages. Production, rehabilitation, and preservation of 1.5
million housing units are envisioned for the next 10 years. A
full House vote is pending. H.R. 2895 has no companion bill in
the Senate as of yet.
CEDAM will also be tracking the Community Restoration and
Revitalization Act (HR 1043, S 584), which would create new
investment incentives for affordable housing and commercial
development using historic buildings, and also make using the
Historic Preservation Tax Credit easier to use (including when
used in combination with the
LIHTC). |
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| Members & Partners
Spotlight... |
| Jackson
Affordable Housing
Corporation |
 The recent
newsletter sent out by the Jackson
Affordable Housing Corporation (JAHC)
mentioned that their annual
meeting/luncheon
is coming up on Thursday, September 20th at 11:30am. Please
call (517) 788-4626 for more information.
It also
noted that in the current climate of foreclosure danger, the
JAHC has assisted 15 families with foreclosure prevention
funds - bravo! Keep it
up!
NCRC President
Elected to Association for Enterprise Opportunity
Board
 John Taylor, President and CEO of the National
Community Reinvestment Coalition (NCRC)
in Washington, DC, has been elected as one of the newest board
members for the Association for Enterprise Opportunity. The
NCRC is a national non-profit coalition that promotes economic
justice and equal access to credit, capital and financial
services. His representation on the AEO board will help to
further connect investment in communities and investment in
emerging
entrepreneurs!
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Resources,
Trainings, & Events... |
Foreclosure Prevention Trainings in Livonia and
Lansing
NeighborWorks®
America, in cooperation with MSHDA, is offering foreclosure
prevention training at a significantly
reduced cost to attendees. Beginning to Intermediate
Foreclosure Prevention Training will be presented in Livonia
August 28-29 and in Lansing September 6-7. Registration for
the two-day session is $60.
This is the same course
offered at national NeighborWorks® Training Institutes for
$390 (not including registration fees and travel costs). To
register, complete and send the registration form with
payment to Trevor Winterowd, MSHDA. Paid registrations will be
accepted on a first-come, first-served basis. Each session is
limited to 35 participants.
Technical
Assistance Workshop - August
28
On August 28th
from 9am to noon, MCDDA and SEMCOG are hosting a Technical Assistance
Workshop on Building Relationships through Grant Writing.
The low cost workshop will be held in Novi, and registration
is first-come, first-served. Please contact Clarinda Barnett-Harrison at SEMCOG
with any questions.
Grants
Available - Green Building, Financial Education, Energy
Efficiency |
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Green
Communities, an initiative
sponsored by Enterprise, will be
awarding grants of up to $50,000 per project for developers
committed to providing green affordable housing. The deadline
for applications is August 31.
MNA Non-Profit
Day 2007
 Nonprofit Day 2007 will be held
on September 26 at the Lansing Center. This one-day conference
focuses on the public policy issues that impact Michigan's
nonprofit sector. The registration deadline
is September 19th.
Brownfields Meeting in Muskegon and 2008
Conference in Detroit
On Friday, September 14, starting at 10am, the
National Brownfields Association Michigan Chapter is having
their annual summer chapter meeting in Muskegon. For more
information, visit their website.
The 2008 National Brownfield
Conference will be held in Detroit starting on May
5th, 2008. This conference is projected to
have thousands of people attending, so if you have
interest in Brownfield Redevelopment, be sure to add it to
your calendar.
Various
studies
 The Lincoln Institute's Community Land
Trust study is available to download.
The Urban Institute's study on Public Housing
Revitalization is also available.
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! |
Compliments of CEDAM
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