The DHCR Commissioner presented testimony on the  Impact of Affordable Housing Development to DOB last Wednesday.  Clearly, housing leadership in New YorkState is committed to increasing the number of affordable housing units, as the need grows during this economic downturn.  The economic benefits of State subsidized housing and community development are clearly supported in this thoughtful  presentation.

Michelle Singletary’s column in Sunday’s Washington Post has a plain language explanation about how the HUD foreclosure mitigation program works.  Rural Advocates want to hear from you about your rural needs. Are you seeing vacancies as a result of foreclosure?

A group of Rural Advocates and NYS Rural Housing Coalition members met with DHCR’s Gary Hallock, Deputy Commissioner, Office of Community Development and staff to discuss rural development issues and how we can partner to deliver even more affordable housing. Continue reading →

The Governor has announced changes in the HEAP program as well as other initiatives.  See Patterson’s Press Release

If you haven’t seen  NLIHC Memo to Members you might be interested in the following analysis of the impact of the bailout on the National trust fund on the bailout:

“First, the contributions that Fannie and Freddie are to make to fund the National Housing Trust Fund are based on their volume of new business,not profits. Their share of the mortgage business is going up and will continue to do so. However, the second thing to know is that these contributions can be suspended by the regulator if he or she considers them to be detrimental to the financial health of the GSEs. Third, on the other hand, because of the diversion of the funding for the National Housing Trust Fund to backstop the new foreclosure prevention program,the National Housing Trust Fund will not receive any funding until FY10 at the earliest. Hopefully, the actions taken now will restore confidence in the GSEs, so that contributions to the National Housing Trust Fund will be possible by then.”

Today, The NY Times weighs in with

budget-bulletin-vol-11-number-39-1

NRHC Budget Bulletin

As Reported in the Daily Freeman on July 9, 2008, ” With help from six banks, a local not-for-profit housing agency will hire a counselor to help homeowners deal with threatened foreclosures.

The banks are providing nearly $23,000 for the Rural Ulster Preservation Co.’s initiative, officials announced on Tuesday.

RUPCO Executive Director Kevin O’Connor and local baking and government leaders announced the Foreclosure Prevention Program during an news conference at RUPCO’s office on John Street in Uptown Kingston.”

DHCR has submitted a program bill that has been introduced in the Senate and  Assembly, A10812/S7359.

The bill amends the Housing Trust Fund to allow substantial rehabilitation,  use 10%  of funds for community facilities (and removes that limit on  acquisition)  and raises the limits per unit as explained in the  sponsor memo. It changes the statute so that buildings can be  occupied, albeit under occupied.  This may really be helpful for preservation of older rentals

http://www.ruralhome.org/infoAnnouncements_2009budgetproposed.php

The Housing Assistance Council has the latest Executive  federal budget posted on their website, above.

Some lobbying on “the hill” this winter may be in order!