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NACEDA 2009 Federal Policy Priorities
NACEDA Policy Paper Links
Community Reinvestment Act
HOME Investment Partnerships Program - March 2009
Background
Asset Building for America - March 2009
Housing Trust Fund - March 2009
Rural Community Development - April 2009
See http://www.NACEDA.org or contact NACEDA at (703)741-0144 for additional information.
1. Community Development Corporations (CDCs)-Supporting Core Capacity Needs
NACEDA STRONGY supports the reintroduction in the 111th Congress of The Community Economic Development Expertise Enhancement Act of 2007 (HR 4328 in 110th Congress) sponsored by the late Rep. Stephanie Tubbs Jones (D-Ohio). The Community Economic Development Expertise Enhancement Act includes provisions to:
- Provide technical assistance and core operating support throughout the nation for CDCs; current programs are limited to specific geographic areas
- Provide financial and technical capital for emerging and established CDCs
- Establish an advisory council at HUD to examine CDC capacity needs
- Authorizes funding to support CDC infrastructure needs
Community Development Corporations (CDCs) are on the front lines of the economic crisis. NACEDA seeks immediate relief to help CDCs weather the financial crisis and expand service capacity. Current and future Economic Stimulus legislation should provide support for CDC infrastructure.
NACEDA members are seeking sponsors and cosponsors for the Community Economic Development Expertise Enhancement Act legislation in the 111th Congress. NACEDA supports efforts to fund CDC capacity building in the implementation of Economic Stimulus legislation, including the Neighborhood Stabilization Program.
2. National Housing Trust Fund (NHTF)
NACEDA applauds passage of the National Housing Trust Fund legislation in the 110th Congress.
NACEDA strongly supports the Administration's budget proposal providing $1 billion for NHTF.
Community Development Corporations have successfully worked for a number of years with states and localities to implement state and local Housing Trust funds across the country; they have the experience and ability to help implement a well-funded NHTF.
NHTF is an invaluable investment in stabilizing the lives of low-income Americans. NACEDA members have seen Housing Trust Funds work at the state and local level and stand ready to support robust funding for the National Housing Trust Fund. See NHTF.org for detailed information.
3. Community Reinvestment Act (CRA)
NACEDA supports the Community Reinvestment Modernization Act of 2009, which will apply CRA more broadly throughout the financial services' industry including independent mortgage companies that originated the majority of subprime loans, penalize financial institutions that engage in predatory and abusive lending practices, and enhance accountability by linking the Home Mortgage Disclosure Act to a new loan performance database tracking foreclosures and loan modifications.
NACEDA supports anti-predatory lending efforts and legislation.
NACEDA rejects efforts to blame the current financial crisis on CRA; institutions NOT covered by CRA made the vast majority of subprime loans.
Community Development Block Grant (CDBG)
NACEDA supports funding of at least $5 billion for the CDBG program
Talking Point: CDBG provides a flexible funding base for infrastructure and related programs essential to community development efforts. Recent reductions in CDBG funding have a negative impact across communities of all sizes.
HOME Investment Partnerships Program (HOME)
NACEDA supports full funding for the HOME program, which has decreased since its peak in FY 2004 despite widespread recognition of its effectiveness. Talking Point: HOME is the key to affordable housing production in many communities. It works.
Asset & Wealth Building
NACEDA realizes that asset and wealth building strategies are excellent ways to empower low-income communities. Talking Point: CDCs are on the front lines of building assets for low-income communities and individuals. NACEDA supports legislation incentivizing asset building programs and partnerships.
Supporting Rural Development
NACEDA and partners are working to restore and protect funding for numerous rural development programs in the USDA budget. Talking Point: USDA Rural Development programs provide a lifeline of support for our low-income rural communities and residents.
Green Building/Healthy Homes
NACEDA supports for the GREEN Act. H.R. 6078, which ensures that community development corporations have the capacity to build green and incentivize financial institutions, FHA and GSEs to finance energy efficient affordable housing. Talking point: incorporating green building techniques and sustainable development in housing for low and moderate income persons/families addresses rising energy and transportation costs which impact low-income communities at higher rates than the rest of the population.
Transit Oriented Development
NACEDA supports policies in the recent stimulus bill and future legislation to promote sustainable transit oriented development policies that benefit all neighborhoods and income levels. Talking Point: NACEDA realizes the value of transit oriented development and related policies that promote sustainability. NACEDA strives to ensure that such policies preserve access to affordable housing and services for low-income neighborhoods.
Tax Policy
NACEDA supports programs such as the Low-Income Housing Tax Credit (LIHTC), New Markets Tax Credit (NMTC) and other incentives to produce affordable homes and promote economic development in underserved areas. Talking Point: Effectively crafted tax incentives provide important investment in low-income communities. Many CDCs are well positioned to utilize tax credit programs to the benefit of the communities they serve.
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