August 2008

News

HOUSING RECOVERY
Major Bill Brings Foreclosure Aid for Families and Communities
President Bush signed the most important housing legislation in decades: the 2008 Housing and Economic Recovery Act. Moving forward, HUD and the Treasury Department will draft new regulations implementing the new law’s provisions. Most notably, HUD will create a distribution formula for the $4 billion Neighborhood Stabilization Fund to states and cities.

NEW DOLLARS, NEW HOPE
L.A.’s New Generation Fund Provides Early, Critical Capital for Affordable Housing  
A new $100 million predevelopment and acquisition fund developed by Enterprise aims to fight homelessness and reduce the housing burden on poor and working families in Los Angeles. The fund offers affordable housing developers important early-stage financing for low- and moderate-income homes. Read the news release.

GREEN WINS BIG
Green Communities® Earns World-Class Honors
One of nine international winners, Green Communities took honors in London for its innovation and best practices in sustainable land use. The first Sustainable Cities Awards were sponsored by the Financial Times and the Urban Land Institute.

Resources

A GREEN COMMITMENT
New Publication Makes the Case for a National Green Commitment
Bringing Home the Benefits of Energy Efficiency to Low-Income Households highlights the importance of increasing energy efficiency in affordable housing. It outlines how a modest federal investment in such a commitment would deliver significant environmental and economic benefits.

GULF COAST REPORT
Rebuilding Efforts Bringing Thousands Home
The summer issue of the Gulf Coast Report delves in to some of the latest projects, programs and organizations working to rebuild the region. The report also highlights the winners of the 2008 Chase Community Development Competition held in New Orleans.