Monthly Collective Meeting

Wednesday, November 15th, 2023

1pm-2:30pm

ZOOM LINK

Agenda

Special Presentation: Youth Hope Foundation, Heidi Mayer, Executive Director

Special Presentation: Credit.org, Melinda Opperman, Chief External Affairs Officer

Pillar Committee Updates and Announcements

The Inland SoCal Housing Collective is updating their contact list and calendar invite for the four pillar committees. If you are interested in joining or already participating and would like to continue as a committee member please take this 30 sec survey.

Announcements

Lift to Rise gets $5 million dollars to finance affordable housing in Coachella Valley.

The Vista Sunrise II Apartments in Palm Springs are among the affordable housing developments that have gotten funding from We Lift: The Coachella Velley's Housing Catalyst Fund.

In addition to SCAG's $5 million award, the Low Income Investment Fund and Rural Community Assistance Corp. will match the contribution with another $5 million, bringing the We Lift: The Coachella Valley’s Housing Catalyst Fund to a total of $46 million.

Goal: 10,000 homes by 2028

Read More (4 minutes)

New Markets Tax Credit Program

The NMTC Program attracts private capital into low-income communities by permitting individual and corporate investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities (CDEs). The credit totals 39% of the original investment amount and is claimed over a period of seven years.

NMTC Program applicants must be certified as CDEs by the CDFI Fund. For more information on CDE Certification, please see the CDE Certification Page.

Important CY 2023 Deadlines

CDE Certification Application Submission Deadline: November 8, 2023

NMTC Application Registration in AMIS: November 15, 2023

NMTC Allocation Application Submission in AMIS: December 19, 2023

QEI Issuance and QLICI Requirements: March 21, 2024

DEADLINE: December 19th, 2023

Announcement Date: Fall 2024

Step One: Certification

Step Two: Apply

Step Three: Award Announcement

Step Four: Allocation Agreement Closing

Step Five: Compliance and Reporting

Learn About Applying to the NMTC Program

To provide more information about the NMTC Program and the Application process, the CDFI Fund has made available pre-recorded webinars:

(1) “NMTC Program AMIS Application Demonstration” which provides an overview of the electronic application’s features and the submission process in AMIS (7 minutes).

(2) ”NMTC Program Application Registration Demonstration” which provides instructions on how to complete the Application Registration in AMIS (29 minutes).

News . Articles . Reports

Homekey Awards $156.4 Million to Expand Homeless Housing

Published: Nov 07, 2023

SACRAMENTO – Governor Gavin Newsom announced that California is awarding $156.4 million in Homekey Grants to help rapidly expand the availability of housing for individuals and families experiencing or at risk of homelessness.

These grants will finance 12 projects across six California counties: Alameda, Fresno, Los Angeles, Monterey, San Francisco, and Riverside.

Read more (3 minutes to read)

One-Third of Homeless Veterans Live in California. Here is Newsom's New Approach to Help Them| Santa Monica Daily

Published: November 7, 2023

Last year, the VA estimated about 33,000 veterans were homeless nationwide. According to the 2021 annual homelessness assessment report by the federal Department of Housing and Urban Development, more than half are over age 55. The data also shows that Black veterans are more likely to be homeless than veterans belonging to other races.

Altogether, the ballot measure going to voters includes $6.4 billion to fund projects for behavioral health issues and those at the risk of homelessness. It also includes a proposal to adjust how the state spends money it collects for mental health services, from a tax on personal income over $1 billion, aiming to direct more of the money to housing.

The $1 billion for veteran housing will be distributed in the form of loans and grants by the Department of Housing and Community Development.

Read More (7 minutes to read)

Update to Burbank Media District Zoning Would Permit 4,600 Homes

By: Steven Sharp

November 6th, 2023



The specific plan update would permit 125 percent of the allowed plan area density within sites where residential uses are allowed - including opportunity sites, which would also be permitted up to 100 percent of non-residential development intensity. Parcels that are not designated opportunity sites would see their non-residential development intensity limited to 33 percent of what is currently allowed under the Burbank General Plan, a change that would likely shift interest to opportunity sites.

The specific plan would also update standards for building and street design, while also introducing a transfer of development rights program. Implementation of the new rules is expected to permit the construction of up to 4,627 new residential units and nearly 2.5 million square feet of commercial uses.

Read More  (2 minutes to read)

Statewide Effort to Decarbonize Buildings May Lead to Mass Evictions, Rent Hikes

Spectrum News

By: Anna Albaryan

November 8th, 2023

What You Need To Know

• Starting in 2024, California will implement the $1 billion Equitable Building Decarbonization Program to remove gas-powered appliances from low- and moderate-income households.

• The program is part of a larger statewide effort to cut 85% of greenhouse gas emissions from across the state by the year 2045

• The City of Los Angeles is expected to roll out a similar decarbonization ordinance by 2024, that will have a goal of removing gas-powered appliances from residential and commercial buildings by the year 2050

Strategic Actions for a Just Economy policy directors say while the program is needed to combat climate change, it may have an unintended impact on the state's housing crisis — including in Los Angeles, where lawmakers expect to roll out a decarbonization policy by next year. The goal is to have zero-carbon apartments by the year 2050.

Read more (1 minute to read)

California State University Fullerton Students Design Sustainable Housing Solutions

The Orange County Register

By Jenelyn Russo

November 7th, 2023

From concept to reality, Cal State Fullerton students were given the opportunity to see their visions for sustainable design take shape as nearly 75 Titans represented the university last month at the Orange County Sustainability Decathlon hosted by the OC Fair & Event Center in Costa Mesa.

While the Titan team did not participate in the full decathlon competition this year, the CSUF students did construct housing models that were featured in the Exhibition portion of the event. Their exhibit consisted of two structures, constructed side by side — one that demonstrated current California building codes and another that showcased more sustainable approaches. The team built the structures in such a way as to keep their innovative solutions visible to the public.

Read More (3 minutes)

The Inland SoCal Housing Collective Educate and Advocate Series highlights policy and informational workshops of collective partners who are pursuing solutions for our region for better housing outcomes. Check out the workshop spotlights below!

November 14th 11:00am-4:00pm

and

November 15th 11:00am-3:00pm

CONNECT is virtual again this year and registration is complimentary. This year’s conference provides you with:

• Education and actionable insights that will help you meet changing customer demands.
• Demos and information on the latest innovative tools and solutions to help you increase efficiency, serve more customers and succeed in building your business.
• Virtual and video networking opportunities.

6 Reasons to Attend

1. Get to know our Single-Family leadership team, Sonu Mittal, head of Single-Family Acquisitions, and Ravi Shankar, head of Single-Family Portfolio and Servicing. Learn about Freddie Mac’s priorities for helping Seller/Servicers succeed and hear these leaders’ perspectives on housing-market stabilization in difficult economic times.

2. Hear from Sam Khater, Freddie Mac Vice President and Chief Economist, who will discuss expectations for the economy and U.S. housing market this year and in 2024. 

3. Choose from over 30 breakout and on-demand sessions designed to help you learn more about Single-Family’s latest programs, products and initiatives to help you successfully grow and manage your business.

4. Gain insight from keynote speakers on how innovation, policy changes and societal shifts can drive opportunities. You’ll learn about strategies and projects that promote restorative economic activity that you can apply in communities you care about.

5. Stroll through the exhibit hall to learn about a broad range of housing solutions to build your book of business.

6. The conference is complimentary, but the insights you’ll gain are priceless.

Career Opportunities