Wednesday, August 7, 2013

9:00 – 9:15 a.m.Welcome and Opening Remarks

Lena Robinson, Federal Reserve Bank of San Francisco
Susan Howard, Office of the Comptroller of the Currency

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9:15 – 9:45 a.m.Making the Case for Affordable Housing

Gabriella Chiarenza, Federal Reserve Bank of San Francisco

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View Community Investments: The New Era of Affordable Housing

9:45 – 10:30 a.m.Oakland’s Home Preservation Initiative

The City of Oakland’s foreclosed property registry ordinance has been an effective tool for reducing the negative impacts of foreclosures. Through the registry, city departments have been able to minimize blight, enforce renters’ rights and monitor the number and location of properties at every stage of delinquency. Now, the data and information contained in this registry forms the basis for a home preservation initiative that will be unveiled in this forum. Funders will be able to identify the components that meet their objectives and determine how they can help to realize the success of the initiative.

Margaretta Lin, City of Oakland

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10:30 – 10:40 a.m.Break
10:40 – 12:00 p.m.Strategies for Financing a Property Portfolio

A complex network of financing resources and partners is critical to ensuring that affordable housing practitioners are able to build a portfolio of properties that can be sold to qualified buyers or rented to eligible tenants. It will take equity, debt, donations, discounts, grants, as well as subsidy all working together to execute on a continuum of strategies that create a pipeline of affordable housing opportunities. Speakers on this panel will talk about the innovative financing products and programs they have available to support neighborhood stabilization in the current environment.

Equity and Debt Sources (Banks, COIN, Foundations)
Darrell Teat, Nehemiah Corporation of America
Peggy Jen, LISC (Golden State Acquisition Fund)

Download Affordable Housing and Community Facility Loans presentation (pdf, 315 kb)
Download Golden State Acquisition Fund presentation (pdf, 542 kb)

Donations and Discounts (First Look)
Tyler Smith, Wells Fargo REO Community Development
Sergio Barrajas, National Community Stabilization Trust

Subsidy (Foundations, Government)

Q&A and Dialogue

Download California Market Analysis presentation (pdf, 683 kb)

12:00 p.m.Charting a Course Forward
12:15 p.m.Adjourn
Next Meeting:Managing Property, Empowering People

Affordable rental housing is an important element of personal financial stability and community revitalization. Property management of scattered site housing is complicated, but not impossible. Much of the property purchased by institutional investors will be used for rental. What can we learn from them about the mitigating the risks and challenges of managing a single family housing portfolio? And what opportunities for partnership with affordable housing practitioners and other community development service providers could be formed to create a housing plus program to achieve economic success for renters

Rose Cade, Enterprise Community Partners
Funding supportive services
Business model for scattered site property management

The State of the Nation’s Housing 2013: The Joint Center for Housing Studies At Harvard University