Earlier this year, the Biden-Harris administration announced a set of actions intended to address racial bias in the home appraisal process. The announcement followed a two-year effort led by the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE), an inaugural task force comprised of 13 federal agencies and offices directed to evaluate the causes, extent, and consequences of appraisal bias, as well as establish recommendations to eliminate racial and ethnic bias from the home valuation process. The task force found that the legacies of past racist housing policies, along with industry practices that reinforce negative perceptions of neighborhoods with high concentrations of Black, Indigenous, and other people of color contributed to the under-valuation of homes in majority-BIPOC neighborhoods and the loss of billions of dollars in wealth for their owners.
Enterprise, the Local Initiatives Support Corporation (LISC), and the Federal Reserve Bank of New York announced plans to publish the seminal text on community development and climate change, What’s Possible: Investing NOW for Prosperous, Sustainable Neighborhoods.
Standard & Poor’s Global Ratings (S&P) has upgraded its issuer credit rating for the Enterprise Community Loan Fund (ECLF)—the community development financial institution (CDFI) of Enterprise—and its long-term rating on ECLF’s series 2018 taxable sustainability bonds from “A+” to “AA-.”
Today, the U.S. Department of Energy (DOE) recognized Enterprise, through its community development arm Enterprise Community Development (ECD), for committing to reduce portfolio-wide greenhouse gas emissions by more than 50% within 10 years and to work with DOE to share success. As a partner in DOE’s Better Climate Challenge, Enterprise Community Development joins more than 50 organizations across the U.S. that are driving real-world action toward a low-carbon future.
The California Legislature has passed and Gov. Gavin Newsom has signed critical affordable housing legislation from streamlining development to unlocking local resources to strengthening tenant protections.