
Friday, June 27, 2008

In This Issue

Affordable Housing Foreclosure Forum Tomorrow

Errata: Inclusionary In-Lieu Fee

U.S. Senate Adopts Housing Stimulus Bill

Date Changed for Homeless Youth Application Workshop

Legislature Passes Infill, TOD Fund Augmentation

Resident Energy Savings Chat July 10

Closing Bond Deals Roundtable July 10

Affordable Housing Forum Tomorrow

"The Foreclosure Crisis: The Struggle for Solutions in San Diego County" is the theme of Saturday's forum sponsored by the Affordable Housing Coalition of San Diego County. The program begins at 1 p.m. at the Tubman Chavez Center, 415 N. Euclid Ave, San Diego 92114.

Sue Reynolds, CEO of Community HousingWorks, will kick-off the forum with an overview of the foreclosure crisis in San Diego, and Diane Silva-Martinez, San Diego City Attorney's Office, will speak about the problem of abandoned properties. A panel of Harold Meyerson, Washington Post columnist and editor of the American Prospect; California State Assembly Member Lori Saldaña, Chair of the Assembly Housing and Community Development Committee; and San Diego City Councilman Tony Young, Chair, City-County Reinvestment Task Force will offer national, state and local perspectives on the crisis. City Attorney Mike Aguirre and representatives of ACORN will finish out the day's program with an "action and organizing" session. The forum is free. Information is available by calling 619-225-0377.

Errata: SD Inclusionary In-Lieu Fee

Last week's Weekly Brief erroneously reported that the San Diego Housing Commission had requested changes to the in-lieu fee in their discussion with the City Council's Land Use and Housing Committee. Instead, the Commission staff recommended amendments that would exempt certain residential uses from the Inclusionary Housing Ordinance, raise the income limit qualification criteria on for-sale housing; and codify the preeminence of the California Redevelopment Law for projects with for-sale units funded by the Redevelopment Agency. Other recommendations called for maintaining provisions in the Municipal Code regarding ways to comply with the Inclusionary Ordinance, requiring off-site builidng within the same community planning zone, exempting projects of two or fewer dwelling units, and maintaining the moderately affordable housing exemption at 150% AMI. We regret the error. The full committee report can be viewed here.

Senate Adopts Key Amendment to

Housing Stimulus Bill

Earlier this week, the U.S. Senate adopted a key amendment to the housing stimulus and foreclosure prevention bill (H.R. 3221 ), which has been delayed in its progress toward final passage. The Senate approved amendment would replace sections of the latest House-passed version of H.R. 3221 with a revised package of housing and tax provisions.

The tax provisions include a temporary increase for states in the annual volume cap of authority to issue tax-exempt bonds for single-family or multifamily rental housing; a temporary increase in the annual volume cap for low-income housing tax credits; exemption of the housing credit, historic rehabilitation tax credit, and interest on tax-exempt housing bonds from the alternative minimum tax; and a series of "modernizing" and technical changes to the housing credit program.

The Senate was trying to complete work and re-pass H.R. 3221 by the end of this week, the start of the weeklong July 4th congressional recess. Even if it does pass the bill, many believe a House-Senate conference will be necessary to produce a compromise final bill for votes by both chambers before the measure can go to the President. The President has threatened to veto the bill, which also includes provisions for creating the National Housing Trust Fund.

Date Change for Youth Application Workshop

The date has been changed for HCD's next Homeless Youth Supportive Housing Application Workshop. The workshop will assist developers interested in serving homeless youth. Attendees will learn how to complete the application for the Multifamily Housing Program (MHP)-Homeless Youth Program. The new date is Monday, July 28 from 10 a.m. to 2 p.m. in Sacramento. For more information, see HCD's Save the Date card and the RSVP form.

Legislature Passes 1C Augmentation

The Legislature has passed a bill that provides additional funding for the Prop 1C Infill Infrastructure and Transit Oriented Development Programs. Governor Schwartzenegger is expected to sign the legislation that would advance $100 million in infill funds and $50 million in TOD from the Prop 1C bonds. Funds from two transportation programs were advanced also. Awards from these funds have already been identified by the CA Department of Housing and Community Development based on the first-round NOFA applications for the programs.

Resident Energy Savings Chat July 10

An online discussion of the Weatherization, Rehab and Asset Preservation Partnership is scheduled for Thursday, July 10 at 11 a.m. PDT. A multi-year project sponsored by the Ford Foundation, WRAP develops new and innovative strategies and models to help sustain low-income homeownership by integrating energy, housing and mortgage refinance options. The program is completing its fifth year, and has piloted in 11 cities across the country. This discussion will detail some of the strategies WRAP used to meet the needs of the target population and how KnowledgePlex and the Energy Programs Consortium, the sponsors, believe it can be replicated on a local, state and federal level. For more information, click here.