October 5, 2018

Enterprise Lead Executive Lecture on Social Enterprise at Howard University 

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Community Developments

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Community Developments: Enterprise Lead Executive Lecture on Social Enterprise at Howard University 

  • As part of the Executive Leadership Series at the Howard University School of Business (HUSB), Enterprise Community Partners’ CEO Terri Ludwig, Enterprise Community Investment’s President and CEO Charles Werhane, and Enterprise’s Vice President and Mid-Atlantic Market Leader David Bowers last month led a discussion on the topic of social enterprise as a force for good in communities. Enterprise is the first nonprofit invited to participate in the series, which brings business leaders from around the country to share insights and advice with HUSB students. “It’s our responsibility to help shape the next generation of affordable housing and community development leaders,” noted Ludwig. “We are exploring options for an ongoing relationship with Howard University to connect students to educational and career opportunities and build a pipeline bringing new talent to Enterprise and the industry.” (Howard University – Office of University Communications, October 4) 
     
  • In a blog post, Enterprise’s Vice President of Knowledge, Impact and Strategy Tiffany Manuel notes that “as Enterprise celebrates the one-year anniversary of Opportunity360, we are energized by the momentum that the platform has created, and we are reminded of the reasons we initiated this work.” Manuel points out that since the platform was launched in September 2017, well over 100,000 visitors have used its data, taken advantage of accompanying resources and signed up for newsletters. She explains that Opportunity360, which brings together data on housing stability, education, health and well-being, mobility, and economic security, was created to change the narrative around access to opportunity so it becomes clear that success is not simply about individuals’ hard work – people’s outcomes are the product of a multi-layered set of factors that operate at the individual, home, neighborhood and systems levels. Finally, Manuel urges housing and community development stakeholders to think about how they can use the resources in the platform to push, accelerate or scale systems change efforts to improve opportunity for the millions of Americans whose access today remains blocked. 
     
  • According to the Labor Department, the U.S. economy added 134,000 jobs in September, the slowest pace of growth in a year, and the unemployment rate decreased slightly month-over-month to 3.7 percent, the lowest rate since December 1969. However, the labor force participation rate, which is the share of adults who are working or actively looking for work, was unchanged in September and has been more or less flat for several years. Average earnings rose 8 cents an hour and are up 2.8 percent over the past year. The New York Times suggests that the slowdown in job growth in September can be partially explained by the impact of Hurricane Florence. (The New York Times, October 5) 
     
  • The Texas Tribune has released an affordable housing toolkit that aims to help Texans build a dialogue about housing issues in their communities. This toolkit is a step-by-step guide to sparking meaningful conversation on Texas’ affordable housing issues and their impact on local communities. It includes reading and resources to help inform conversations, discussion questions, tips for event planning, ideas for event promotion, and a “Community Conversations” checklist.

Upcoming Hearing 

  • On Thursday, October 18, the U.S. Senate Committee on Banking, Housing and Urban Affairs will hold a hearing on “Oversight of Pilot Programs at Fannie Mae and Freddie Mac.” This hearing, which will be held at 10 a.m. ET in Room 538 of the Dirksen Senate Office Building, will feature the Federal Housing Finance Agency’s Deputy Director of the Division of Housing Mission and Goals Sandra Thompson, Fannie Mae’s CEO Timothy J. Mayopoulos, and Freddie Mac’s CEO Donald H. Layton. 

In Case You Missed It

  • Freddie Mac announced yesterday that it has reentered the Low-Income Housing Tax Credit (Housing Credit) market with a new fund with Enterprise Community Investment. The fund will focus on areas and transactions that have been underserved over the past decade, such as rural communities, properties financed with 4 percent Housing Credits, and developments that provide intensive supportive services to their residents. The fund, which will invest as much as $100 million, has already closed its first transaction: Wintergreen West, which will provide 40 apartment homes for residents of Summit County, Colorado, a rural area 75 miles west of Denver. Freddie Mac was a large part of the Housing Credit equity market prior to conservatorship in 2008. Freddie Mac has reentered the market in partnership with Enterprise because of our expertise with the Housing Credit, the nation’s most productive tool for creating and preserving affordable rental housing.

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