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Tune
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The San Diego Housing Federation sponsored a press
conference today at Fr. Joe's Villages to highlight the
need for the national economic stimulus
package that includes provisions for affordable
housing. Executive Director Tom Scott noted that there
are 26 San Diego-region stalled affordable housing
developments that could start construction in 2009
putting people to work. They would produce 2,016
affordable homes. The developments have a
collective financing gap of $150 million.
Developers provided renderings showing the stalled
developments. Speakers included Fr. Joe Carroll
and Steve Francis from Fr. Joe's Villages, and City
Council members Kevin Faulconer and Todd Gloria. It was
held at the site of a proposed 12-story multi-use
facility that will replace a two-story building that is
used for transitional housing.
As reported last week, SDHF's message is
simple: The stimulus should focus on what will
stimulate affordable housing production in 2009, put
people to work, and increase the supply of affordable
housing for families, seniors, and other
low-income households.
The conference press release and specific proposals
are here. The press conference was covered by television
channels 5, 7 and 10, City Beat, and the Daily
Transcript. |
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State Budget Gridlock Impacts
Local Deals |
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Although it is difficult to determine exactly what
the impact is on individual developments, the state's
cash shortage and inability to sell bonds or commercial
paper have resulted in deferring all bond expenditures
from the state's Pooled Money Investment
Board(PMIB).
Here's the latest report from Housing
California:
Projects that have started drawing down
funds from HCD:
If HCD submitted a warrant
to the state controller before 12/17/08, the
disbursement WILL be made. (A warrant is a request
from HCD to the controller to release money for a
specified development.)
All other disbursements are frozen
indefinitely. Developers who are uncertain about
the status of their disbursement should contact the
program manager at HCD.
Projects that have NOT started drawing
down funds from HCD:
HCD has every intention of standing by the awards
it has made to-date. The unknown is "When will
money start flowing to those awardees?"
The long list of projects that was
put out by the Pooled Money Investment Board:
The list includes all Prop 46 and 1C projects
with awards as of June 30, 2008, that have not drawn
down the full amount they were awarded. The list
contains 600 projects that have been awarded
approximately $1.6 billion. HCD cannot definitely
say which of those will be delayed by the board's
action. The
Future: In order for disbursements to be
unfrozen, the legislature must pass a new budget AND the
treasurer must sell more bonds. Neither HCD nor
HCA has a prediction on when these might
occur. Want to voice your
concerns about the loan suspensions? Write to the
following leaders and, your own
legislator
Senator Dave Cogdill -- Fax
916.327.3523.
Assemblymember Mike Villines --
Fax 916.319.2129.
In your letter:
- Outline the impacts of your stalled developments,
including the number of jobs that will be, or might
be, lost.
- Urge them to adopt a balanced budget solution that
raises taxes on high-income earners and does not
reduce benefits to the lowest-income households.
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Rick Gentry Kicks Off
Roundtables Jan. 8 |
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The first Affordable Housing
Roundtable of 2009 is scheduled
Thursday, January 8. San Diego
Housing Commission CEO Rick Gentry is the speaker and
his topic is his first 100 days with the
Commission.
The Roundtable provides an
opportunity to share your concerns, expectations and
ideas as they relate to your business with the
Commission. The session will feature audience
interaction and a lengthy Q and A period. It
begins with a continental breakfast at 7:30 a.m. at the
NTC Command Center in Pt. Loma. To register, click
here.
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Save the Date for Fair
Housing |
The San
Diego's Fair Housing Council's 16th Annual Laws &
Litigation Conference is scheduled for February 12 and
13. The conference will commemorate the 50th
anniversary of passage of California's Fair Employment
and Housing Act. Dean Erwn Chemerinsky, founding dean
and distinguished professor of law at the University of
California - Irvine School of Law, will be the keynote
speaker. He has been named "one of the top legal
thinkers in America." For more information, click here.
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Federation Office
Closed |
The San Diego Housing Federation office will be
officially closed until Friday, January 2. Best wishes
for a great holiday season from Tom, Kelley and Doris --
your SDHF staff team. We look forward to working with
you in the new
year. | |
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| January
Roundtable |
The First 100 Days
Rick Gentry, CEO
San Diego Housing Commission
Thursday, January 8, 2009.
7:30 AM to 9:30 AM
NTC Command Center
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