Erika C. Poethig Associate Director for Housing Affordable Housing: What’s Next Nationally and in Nashville? Nashville, TN March 13, 2008

Outline  MacArthur Foundation Background  Window of Opportunity Initiative  Major Preservation Barriers  Promising Opportunities  Key Policy Solutions

Housing Research

Transforming Public Housing in Chicago

Preserving and Improving Affordable Rental Housing Yorktown, Virginia Community Housing Partnership Corp.

Window of Opportunity Initiative: 45,000 Homes Preserved by 2007

New Financing and Investment $3.5 Billion Projected by Year-end 2007 Narrangansett, Rhode Island Preservation of Affordable Housing, Inc.

New Facilities and Programs

New Stability and Stewardship Washington, DC Community Preservation Development Corp

Preservation Barriers  Information  Regulation  Incentives  Resources

Incomplete Information

Burdensome Regulation Chicago, Illinois Community Investment Corp.

Insufficient Incentives Woodfield, Illinois Hispanic Housing Development Corp.

Inadequate Resources Lawton, Oklahoma Mercy Housing, Inc.

Preservation Opportunities  Visible, pressing need  Cost-effective results  Significant policy expertise  Innovative, capable developers  New financing models  State and local leadership

“We are taking one step forward and two steps back…” -- Nicolas Retsinas, March 2006

Compelling Results $74,000 Average Cost Per Home through 2006 Phoenix, Arizona Community Services of Arizona

Policy Champions  National Housing Trust  National Preservation Working Group  Stewards of Affordable Housing for the Future  Housing Assistance Council  National Housing Law Project  Housing Preservation Project  Housing Partnership Network  National Housing Conference  American Association of Homes and Services for the Aging  National Affordable Housing Management Assoc.  National Leased Housing Association

Proven Developers Chicago, Illinois Chicago Community Development Corp.

Model Financing Programs Chester, New York Housing Assistance Council Preservation Loan Fund

State and Local Leadership: New York City The Bronx – New York City, NY Fordham Bedford Housing Corp

 Public-Private Partnership  Comprehensive Action Plan  75,000 units preserved by 2020 State and Local Leadership: Cook County, Illinois

Preservation Compact Keystones  Interagency Coordinating Council  Data Clearinghouse  Energy Efficiency Program  Rental Housing Alliance  Property tax improvements  Preservation Fund

Key Policy Solutions  INFORMATION: Improve and integrate  REGULATION: Clarify and coordinate  INNOVATION: Reward state/local initiative  INCENTIVES: Increase and align  RESOURCES: Invest in long-term, responsible stewardship

For more information: Kissimmee, Florida NHT/Enterprise Preservation Corp.