s part of its sponsorship of The ANHD Inc Reader,

Citibank is profiling the efforts of ANHDs members who

are working to build strong neighborhoods, develop new
affordable housing, and enable homeownership
opportunities for first-time buyers. Citis Community
Relations' staff, which includes a professional writer, will
work with program staff at the local non-for-profits to craft
a story that profiles an innovative approach to community
development, a new affordable housing project serving low-
and moderate-income New Yorkers, or the journey to
realizing the American dream of homeownership. This series
will be a great way to share the many success stories of
community-based housing organizations across the five
boroughs! This series will run for the next twelve months so
look for more stories in future editions of The ANHD Inc
Reader.
Our neighbor buys a newspaper on Main Street. The front
page features articles by economic prognosticators that ask:
Are markets bullish or bearish? Whats consumer
confidence like? Have we turned the corner? All interesting but thats not the information that our
neighbor is after today. He turns to the back pages to start circling job opportunities. The economy being so
slow, his company had to downsize a few months ago. Next hell look at apartment rentals, because hes not
sure hell be able to hold on to his home. As he walks, he sees storefronts with retail space available signs in
the windows. He passes brownstone apartment buildings with boards on the windows. Teen-aged boys lean in
the doorways of some of them, looking around.
His eye catches a small notice at the bottom of a page: At risk of losing your home? Having difficulty making
payments? Come to a free workshop, where lenders will be on hand to help mortgage holders develop work-out
solutions.
ANHD
ANHD
The Reader
...of Housing and Community News...
August 14, 2009 Volume XXXIV Issue 17
Inside
PRESENTATION & WORKSHOP
ON THE YEAR 15
REPOSITIONING PROCESS
See page 9.
IS THE OBAMA
ADMINISTRATIONS HOME
AFFORDABLE MODIFICATION
PROGRAM BASED ON FAULTY
ASSUMPTIONS?
See page 10.
Contents:
Resources and Notices . . . . . 4
Calendar of Events . . . . . . . . 11
Job Listings . . . . . . . . . . . . 13
This newsletter is made possible through the generous support of
Bank of America, Capital One N.A., Citibank, and
Making Communities
Better Together
A
A
The ANHD Reader, www.anhd.org, August 14, 2009 Page 2
ANHD INC. is a not-for-profit social welfare organization which advocates on behalf of New York City community-based
non-profit housing organizations and the neighborhoods they serve. ANHD INC. advocates for comprehensive, progressive
housing policies and programs to support affordable, flourishing neighborhoods for all New Yorkers, especially our lower
income residents.
The ANHD Reader (USPS 695-890, ISSN: 1536-6758), The ANHD Reader, 50 Broad Street, Suite 1125, New York, NY10004,
is published 26 times per year (bi-weekly) for $30 for individuals and community based organizations, and $60 for citywide
nonprofits, banks, foundations, and government agencies by ANHD INC. Periodical Postage paid at New York, NY.
POSTMASTER: Send address changes to The ANHD Reader, 50 Broad Street, Suite 1125, New York, NY 10004. Phone:
(212) 747-1117. Fax: (212) 747-1114.
Nothing to lose, he thinks, and the next evening is
sitting among a small crowd in the all-purpose room of
a local community service organization. The program
director is introducing representatives from banks, who
are arrayed around the perimeter of the room, with
laptop computers, ready to discuss possible
adjustments to individual borrowers mortgage terms.
He hears about some of the other programs offered by
this community non-profit and its sister organizations
in the area. They promote affordable housing in fact,
they manage hundreds of units and are developing
more. They help community residents obtain stable,
living-wage employment. They provide skills
development workshops and financial education. They
offer entrepreneurial training and even microloans for
small businesses. Theres a computerized screening
tool available to help people determine their eligibility
for public benefits like food stamps and the Earned
Income Tax Credit. After-school activities for young
people. College preparation and application assistance.
Help for victims of domestic abuse. Health screening.
Tax preparation help. Legal services.
This is amazing, he thinks. And wonderful. They
can help me turn the corner.
Throughout the city, local organizations staffed by
caring, hard-working neighborhood people are making
their communities better. Especially during turbulent
economic times, when people living at the edges are
most at risk of losing their footing, these non-profits
are redoubling their efforts to help. Of course, they are
affected by the downturn too, so along with
increased demand for their services there is greater
difficulty securing necessary resources. Corporate
partners, while committed to supporting these
organizations programs, must allocate scarce funds
judiciously. Support will go to those programs that
have the longest-term impact for the greatest number
of people. Innovation by non-profits leveraging
less to do more is valued highly. So is
collaboration.
The ways that non-profit community service
organizations are meeting the challenges of the
economic downturn and continuing to help their
neighbors through turbulent times will be highlighted
in a series of articles that will be published in the
ANHD Reader over the coming year. It is hoped that
these stories will be instructive as case studies and
useful to other organizations. They certainly will
demonstrate that non-profits are needed now more than
ever and are serving a vitally important role in the
lives of individuals, families and communities.
If you are a member of ANHD and are interested in
partnering with Citi to use The ANHD Inc Reader to
share a success story of yours, please e-mail Citis
Jonathan Fallet at jonathan.fallet@citi.com.
Join ANHD on August 19th at 2PM on the
Steps of City Hall to Rally for Affordable
Housing!
Join Assemblyman Vito Lopez, ANHD, Habitat for
Humanity and the Empire State Housing Alliance in calling
for the creation of a true Affordable Housing Trust Fund
with a dedicated revenue stream. This fund would be an
important new mechanism for creating and preserving
affordable housing in every New York community.
Assemblyman Lopez and advocates will also send a message
to Governor Paterson to include $500 million in capital
funding for affordable housing programs in next years state
budget. Investing in affordable housing not only provides
safe, decent housing for working class New Yorkers, it also
creates jobs and fuels economic development.
If you have any questions, please contact Dave Hanzel
at (212) 747-1117 x 21.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 3
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with a lender they trust. Bank of America is the right choice for your clients
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Visit http://neighborhoodlending.bankofamerica.com to nd out how
Bank of America can provide the best mortgage solution for your clients.
APARTMENTS FOR SALE OR RENT
Affordable three family homes for sale in the Ocean
Hill/Brownsville Section of Brooklyn.
Applications are being accepted to participate in a
lottery for 48 affordable residential cooperative apartments
at 150 Featherbed Lane in the Morris Heights
Neighborhood of the Bronx.
For more information visit the website at:
www.nyc.gov/html/hpd/html/buyers/lotteries.shtml
DISCONNECTED YOUTH TRAINING
NYS Department of Labor announces the availability of a
total funding of $2.5 million. It is anticipated that contract
awards may range up to $250,000. Eligible applicants for
this solicitation include educational institutions, such as
Community Colleges, BOCES programs, and school
districts. In addition, duly incorporated for-profit and not-
for-profit organizations, including Community Based
Organizations (CBO's) and Local Workforce Investment
Areas that are eligible to do business in New York State
are eligible to apply. This funding is intended to serve
disconnected youth by expanding career awareness,
providing dropout prevention services and developing
foundation skills and competencies needed to motivate
youth to achieve and succeed in their adult and work life.
This will be accomplished through the provisions of
services such as, but not limited to, career planning, work
readiness training, High School Diploma or Equivalent
preparation, and basic occupational skills training. The
deadline to apply is August 20, 2009. For more
information visit the website at:
http://labor.ny.gov/workforcenypartners/fundingopps/RFP46-Q.
NYSERDA OFFERS ENERGY CONSERVATION
GRANTS TO NONPROFITS
The New York State Energy Research and Development
Authority (NYSERDA) has announced a new grant
opportunity through the Energy Conservation Study ARRA
Assistance Program. This opportunity provides funding to
complete Energy Conservation Studies, which can be used
to support applications to upcoming project implementation
funding opportunities through NYSERDA's administration
of American Recovery and Reinvestment Act (ARRA)
funds.
All New York State non-profits [501(c)3] will be eligible
participants. The studies can address the following topics:
energy efficiency; renewable energy; and alternative fuel
vehicles. Under this program, each applicant will be
eligible to receive funding of 100% of the study cost up to
$30,000. The completed study can then be used as
supplemental material for future ARRA grant applications.
For more information and to apply, visit the website at:
http://www.nyserda.org/funding/0004pon.asp
FUNDING FOR EMERGENCY NEEDS FOR THE
HOMELESS PROGRAM
The New York State Office of Temporary and Disability
Assistance Bureau of Housing and Support Services is
requesting proposals from not-for-profit corporations for
the Emergency Needs for the Homeless Program (ENHP).
This program is intended to improve the overall system of
providing emergency services to homeless individuals and
families, and those at risk of becoming homeless by
ensuring that these services are targeted and enhanced in
order to assist the homeless toward a stable and secure
independent future. The deadline to apply is September 4,
2009. For more information visit the website at:
www.otda.state.ny.us/main/cgo/2009/ENHP/
NEW YORK COMMUNITY TRUST ANNOUNCES 2009
NEIGHBORHOOD REVITALIZATION PROGRAM
The New York Community Trust announces a Request for
Proposals for the 2009 Neighborhood Revitalization
Program. The program will continue to focus on projects
designed to help residents cope with economic hardship.
The programs emphasis will be on funding community
development corporations that have shifted from a
housing-only focus to a more holistic approach to
community development and are working to deliver
neighborhood recovery services. Eligible activities include
benefits counseling, employment counseling, eviction
prevention and housing court advocacy for tenants, and
helping working poor families access safety net services
and benefits. Organizations that are community resident
driven are eligible to apply, and must meet the following
criteria: at least one year of work in community-based
housing or economic development work; evidence of the
successful completion of a project that improved
conditions in the organizations neighborhood; strong
neighborhood base, including community resident
participation on board of directors; and the ability to work
with other organizations and constituencies in the
community, such as community boards or other nonprofit
organizations. For more information visit the website at:
www.nycommunitytrust.org/GrantSeekers/HowtoApply/Req
uestsforProposals/tabid/214/Default.aspx.
REPORT SHOWS LOW FORECLOSURE RATES FOR
HOME/ADDI HOMEOWNERS
HUD has release a new report, Rates of Foreclosure in
HOME and ADDI Programs, which indicates that
homeowners who received downpayment assistance
through the HOME and American Dream Downpayment
Initiative (ADDI) programs are less likely to be foreclosed
upon than buyers using the standard FHA program.
The study was conducted to address concerns that
homeowners who receive direct assistance may be more
prone to delinquency and foreclosures. As of early
The ANHD Reader, www.anhd.org, August 14, 2009 Page 4
Resources and Notices
This area highlights available resources and funding
opportunities for nonprofit organizations.
2008, the foreclosure rate for HOME/ADDI homebuyers
who purchased in 2001 was 5.3%, compared to a 6.5%
foreclosure rate for FHA-insured mortgages. The study
also noted that both HOME/ADDI and FHA-insured
homebuyers had significantly lower rates of foreclosures
than those who purchased using a subprime mortgage.
The study also found that homebuyers who had greater
equity in their homes through downpayment assistance
experienced lower foreclosure rates, showing that
programs that are able to provide deeper levels of subsidy
for homeowners may also reduce risks of foreclosure.
The full report, Rates of Foreclosure in HOME and ADDI
Programs, can be found at:
http://www.huduser.org/Publications/pdf/addi1.pdf
FUNDING FOR FAIR HOUSING INITIATIVE PROGRAM
The US Department of Housing and Urban Development
(HUD) announces a total program funding of $3,100,000
for the Fair Housing Initiatives Program (FHIP) Education
and Outreach Initiative (EOI). This Initiative assists
organizations that inform the general public about their
rights and obligations under the Fair Housing Act and
substantially equivalent State and local fair housing laws.
Qualified Fair Housing Enforcement Organizations
(QFHO), Fair Housing Enforcement Organizations (FHO),
and nonprofit organizations representing groups of persons
protected under Title VIII of the Civil Rights Act of 1968 are
eligible to apply. The deadline for applications is
September 18, 2009. For more information visit the
website at:
www07.grants.gov/search/search.do?&mode=VIEW&flag2
006=false&oppId=48729
HUD also has $21,100,000 available for funding of the Fair
Housing Initiatives Programs (FHIP) Private Enforcement
Initiative (PEI). This Initiative assists private, tax-exempt
fair housing enforcement organization in the investigation
and enforcement of alleged violations of the Fair Housing
Act and substantially equivalent State and local fair
housing laws. Eligibility is extended to QFHOs and FHOs,
public or private, not-for-profit organizations or institutions
and other public or private entities that are formulating or
carrying out programs to prevent or eliminate
discriminatory housing practices. The deadline to apply is
September 18, 2009. For more information visit the
website at:
www07.grants.gov/search/search.do?&mode=VIEW&flag2
006=false&oppId=48727
HUD has an estimated funding of $21,200,000 to fund the
Fair Housing Initiatives Program (FHIP) Fair Housing
Organizations Initiative (FHOI). This Initiative provides
funding to QFHOs, FHOs and nonprofit groups organizing
to build their capacity, establish new fair housing
enforcement organizations and/or provide fair lending
enforcement in underserved areas. For more information
visit the website at:
www07.grants.gov/search/search.do?&mode=VIEW&flag2
006=false&oppId=48728.
BRIDGE STREET INITIATES
FIRST INVESTOR PROGRAM
Bridge Street Development Corporation and Signature
Bank are initiating the First Investors Program, a 20 week
program which teaches participants how to invest in
stocks, bonds and mutual funds. Each participant will
receive matching grants from Signature Bank and a
financial planner to assist with investing. Classes will be
held every Tuesday beginning September 15, 2009, 6:30
8:30 pm. The requirement to attend classes is as follows:
$750 to deposit in a Signature account
Annual income of $56,500 (maximum)
For more information contact Bridge Street Development
Corporation, 456D Nostrand Avenue, Brooklyn, NY.
Phone: (718) 636-7596 ext. 14.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 5
Resources and Notices
continued from page 4.
44 Wall Street, 12
th
Floor
New York, NY 10005
(212)461-2338
www.goldsteinhall.com
Affordable Housing Development
Real Estate Development
Property Tax Exemptions and Abatements
Community and Economic Development Law
Cooperative and Condominium Law
Purchase and Sale of Real Estate
Not-For-Profit and Business Law
If you have moved, did your
send us your new location?
Send an email to ray.g@anhd.org
with your new address and email.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 6
Citi, in cooperation with ANHD, is pleased to
present a year-long series of feature articles
highlighting the work of our non-prot
community partners.
Working together, we are making communities
better because we are there.
To learn more, please visit:
http://www.citigroup.com/citi/citizen/community.
2009 Citigroup Inc. Citi and Arc Design is a registered service mark of Citigroup Inc. Citi never sleeps is a registered service mark of Citigroup Inc.
Work together. Make a difference.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 7
FALL/WINTER 2009-2010 COURSES &WORKSHOPS
IN HOUSING PRODUCTION ANDPRESERVATION
MANAGING LEAN AND GREEN: Monthly Workshop Series for Affordable Housing Managers.
Co-sponsored by ANHD, SHNNY & Pratt Center. A monthly 10-session forum to learn & share
information about how to make your existing housing portfolio more energy efficient, healthier, and more
financially viable. Groups may sign up for the whole series and send any one staff person they want from
their organization for any single presentation, or sign up for individual sessions at a slightly higher rate.
For affordable housing managers, project managers, developers, senior maintenance & fiscal staff.
Time: 1st Wednesday of every month from 10 AM-12 PM beginning 10/7/2009 (Light breakfast)
Location: Pratt Center, Manhattan, 144 W. 14th Street, between 6th and 7th Avenues.
Fee: $200.00 for the 10 sessions or $25.00 per session. Register at www.prattcenter.net/events
1. Making Buildings Energy Efficient & Calculating Your Energy Use. A hands-on workshop.
2. Management Techniques to Reduce Energy Use. Overview & how to train staff.
3. Reducing Indoor Toxins & Integrated Pest Control. Green cleaning products and pest control.
4. Overview about Building Retrofits. Case study, what to include, where to start, and how to finance.
5. NYS Weatherization Assistance Prog. How WAP works, who's eligible, maximizing incentives.
6. NYSERDA Multi-family Performance Prog. How it works, eligibility, how to combine with WAP.
7. What's up with Water? NYC Water Costs & Conservation. Learn about what you can do.
8. Green Roofs. What is it, what are the alternatives, costs, financing, obstacles & benefits.
9. Solar Power Programs: Using the sun to power affordable housing. How it works & financing.
10. Political Climate Change One Year Later: A Forum about New Policies, Resources and
Programs to Retrofit NYC.
September 24, 2009, 1:00 PM-4:30 PM. Repositioning Y15 Low Income Housing Tax
Credit Projects - A Technical Presentation & Workshop. Moses Gates, ANHD CHAMP
Director, Lisa Deller, NEF Director of Asset Management, and HPD Y15 staff will present & lead a
workshop on the various technical issues involved in the Year 15 repositioning process. Topics
include needs assessments, contractor selection, violation clearance, and other building and technical
issues. This workshop is specifically geared toward project managers, and other hands-on development
staff. An organizational and legal overview and discussion of the Y15 process will also be
presented by Lawyers Alliance later this fall.
MANAGING AFFORDABLE HOUSING: An Introduction to Asset & Property Management.
Managing Affordable Housing is a mini-course for building managers and other staff of nonprofit
housing agencies that develop and manage affordable housing. The course will be presented by affordable
housing experts and professional property managers. Groups sign up for the whole series and may send
any one staff person they want from their organization for any single presentation.
Time: 4 Thursdays from 1:00-4:30 PM. Fee: $250 ($150 for the staff of ANHD member organizations)
October 1, 2009. THE BUSINESS OF ASSET AND PROPERTY MANAGEMENT with Lisa Deller. Day-to-
day operations: rent collection, supervising maintenance staff, record keeping, monitoring contracts,
marketing & leasing, risk management & insurance. Managing the outside manager vs. self management,
front & back office split, and other organizing issues.
October 8, 2009. HOUSING COURT: WHAT HAPPENS WHEN YOU HAVE TO TAKE A TENANT TO COURT
with Louse Seeley. Louise Seeley, prominent housing attorney & ED of Housing Court Answers, will
walk through the various steps associated with different aspects of housing court, with tips for owners.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 8
ANHD gratefully acknowledges Wachovia Foundation, Astoria Federal
Savings, and Ridgewood Savings Bank for their generous support of
ANHDs Affordable Housing Institute and training programs.
October 15, 2009. NYSTATE WEATHERIZATION ASSISTANCE PROGRAM (WAP) with Dan Grau. The
application process, eligibility criteria, financial benefits, areas of negotiation in the program, building
improvements/ energy-saving retrofits (heating systems, insulation, lighting & appliances, and windows).
October 29, 2009. COMPLIANCE: WITH A FOCUS ON LOW INCOME HOUSING TAX CREDIT (LIHTC)
REGULATIONS. Understand key players & issues in tax credit compliance, certification & income
documentation requirements, tips, and working with NYC HPD & NYS DHCR.
MAINTENANCE OF AFFORDABLE MULTI-FAMILY HOUSING. ANHD will offer this popular
course on the maintenance of affordable housing properties, with a focus on retrofitting for greater energy
efficiency to reduce environmental impact and operating costs over time. This 4-session course is
specifically geared to building managers, superintendents & maintenance staff of nonprofit-sponsored,
affordable multi-family housing. Site visits to affordable housing projects and facilities owned and
managed by ANHD members will be an important part of the curriculum. Groups sign up for the whole
series and may send any one staff person they want from their organization for any single presentation.
Time: 4 Thursdays from 1:00-4:30 PM. Fee: $250 ($150 for the staff of ANHD member organizations)
November 5, 2009. AN INTRODUCTION &OVERVIEW TO BUILDING MAINTENANCE with Aaron Lewit,
Construction Manager. Building systems: envelope, mechanical, heating, ventilating, cooling, plumbing,
electrical, communication, vertical transportation systems; maintenance staff/management and
maintenance/tenant relations; the rehabilitation process. Basic physics for building operation.
November 12, 2009. MAINTAINING HEATING PLANTS AND OTHER MAJOR SYSTEMS: Heating & Hot
Water. A professional heating contractor will teach us about combustion, boilers & heating distribution.
November 19, 2009. MAKING MULTIFAMILY BUILDINGS PERFORM MORE EFFICIENTLY: Maintenance
& Retrofitting Various Energy Conservation Measures with Gregory Elcock. A comprehensive energy
usage analysis utilizing a whole building systems approach: building envelope (roof, parapets, decks, walls,
windows & doors), electricity, water, heating, building controls, health & safety. We will learn best
practices for building energy conservation & retrofits.
December 3, 2009. FIELD TRIP TO CONSTRUCTION SITE(S): Understanding up-close the building
envelope and major systems (mechanical, electrical, heat, cooling and plumbing). A prominent
construction contractor will guide us through a construction site to see & understand the building
envelope and major building systems prior to various items being enclosed.
Unless otherwise indicated, all courses and workshops will be held at the ANHD office at 50
Broad Street, Suite 1125, Manhattan. For more information about the offerings in Housing
Development & Preservation, contact Moses Gates at 212-747-1117 x 15 (moses.g@anhd.org)
or Mike Bucci at 212-765-7123 (mgbucci@aol.com). More details about the upcoming class
will be available on the ANHD website at www.anhd.org. You must be registered in advance
to attend any course or workshop.
To register for the Managing Affordable Housing and Maintenance of Affordable Multi-
Family Housing courses, contact Rita Mazza at 212-747-1117, x 10, or rita.m@anhd.org
To register for the Managing Lean & Green Workshops go to www.prattcenter.net/events.
For more information write: wfleisch@pratt.edu.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 9
Association for Neighborhood and Housing Development
50 Broad Street, Suite 1125, New York, NY 10004 (212) 747-1117 Fax: (212) 747-1114
Thursday, September 24, 2009
1:00 PM 4:30 PM
A TECHNICAL PRESENTATION & WORKSHOP OF THE YEAR 15 REPOSITIONING
PROCESS FOR LOW INCOME HOUSING TAX CREDIT PROJECTS
Moses Gates, ANHD CHAMP Director, Lisa Deller, NEF Director of Asset
Management, and HPD Y15 staff will present & lead a workshop on the various
technical issues involved in the Year 15 repositioning process. Topics include needs
assessments, contractor selection, violation clearance, structuring the new ownership
entities, arrears and liens, transfer taxes, real estate tax abatements, and funding for
renovations.
This workshop is specifically geared toward the hands-on development staff. An
organizational and legal overview and discussion of the Y15 process will also be
presented by Lawyers Alliance later this fall.
Location: ANHD offices, 50 Broad Street, Suite 1125
Cost: $50.00 per person ($20 for ANHD members) Advance registration is required.
Seating is limited, and priority is given to ANHD members.
To Register: Mail this form with payment to ANHD, 50 Broad St., Ste. 1125, NY, NY
10004, Attn: Rita Mazza, or fax to 212-747-1114. (Make checks payable to ANHD).
Contact Moses Gates 212-747-1117 x 15 - moses.g@anhd.org) or Mike Bucci 212-765-
7123 - mgbucci@aol.com) with questions about this workshop.
Name/Title____________________________________________________________
Organization__________________________________________________________
Address_______________________________________________________________
_______________________________________________________________
Office Phone ( ) ______________________ Fax ( ) ______________________
Cell ( ) ________________________ Email_____________________________
The ANHD Reader, www.anhd.org, August 14, 2009 Page 10
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visit us at www.mtb.com.
Is the Obama Administrations Home
Affordable Modification Program Based
on Faulty Assumptions?
The Obama Administration's plan to stabilize the
housing market, the Making Home Affordable Plan
(MHA), is in full swing and has garnered a great deal of
attention. In particular, the Home Affordable
Modification Program (HAMP), a segment of MHA that
seeks to modify the loans of borrowers suffering a
financial hardship, has brought a great deal of hope to
homeowners who are having difficulty making their
mortgage payments. The Obama Administration hopes
to help 3 to 4 million homeowners with the $75 million
committed to the program. According to the U.S.
Treasury, 80 percent of all mortgages in the country are
covered by HAMP. However, HAMP has gotten off to a
slow and rocky start. As of the end of July, only
370,000 loans modifications have been offered under
HAMP while there gave been almost 2 million
foreclosures in the first half of 2009.
The fact that HAMP has yet to make a significant
impact on foreclosures has been blamed on the failure
of servicers to staff up and put proper procedures in
place to effectively implement the program. However,
there are some who believe that the program will be
ineffective, even if the details of the program are borne
out as originally intended.
The Federal Reserve Bank of Boston recently
published a paper detailing why they believe that
HAMP's focus on modifications may make the program
less effective than expected. According to economists
at the Federal Reserve Bank of Boston, servicers often
refrain from modifying mortgages for two reasons.
The first reason is self-cure risk. More than 30% of
delinquent borrowers eventually become current on
their mortgages without a modification. If a borrower
self-cures, the money spent modifying that loan is
wasted and the servicer will lose money they would
have gained had they not reduced interest rates or
extended the terms of loans under the HAMP program.
The second reason is re-default risk. A large
number of borrowers will eventually lose their home,
even if they receive a modification. Many of these
homeowners will be delinquent within six months of a
modification. As the values of homes continue to
decline, the lender may recover less from the
foreclosure of a home where the owner re-defaults after
modification than if the home went into foreclosure
initially.
The government believes that HAMP will effectively
address the foreclosure problem. However, if servicers
are lacking the proper incentives to modify loans,
modifications may not be the appropriate tool to prevent
foreclosures. If the economists of the the Federal
Reserve Bank of Boston are correct, HAMP may be
less effective than expected.
Kim Allman, New York Mortgage Coalition
SEPTEMBER
September 10: Open House. Neighborhood Housing
Services (NHS) of East Flatbush, a not for profit housing
organization, is sponsoring a Home Maintenance Training
course. Build It! Fix It! Do It Yourself! Learn carpentry,
basic electrical, tool usage, wood framing and much more.
Register for the Home Maintenance Training course.
Classes begin on September 14th. For more information
call 718-469-4679.
September 15: 6th Annual Upstate New York
Affordable Housing Conference. Hosted by the New
York State Association for Affordable Housing this
conference will be held at the Albright-Knox Art Gallery,
1285 Elmwood Avenue, Buffalo, New York. For more
information and registration visit the website at:
www.nysafah.org/buffaloconf/.
SAVE THE DATE: The Supportive Housing Network of
New York; 2009 Awards Gala - October 27. For more
information contact Emily Rubin at (646) 619-9645, or by
email at erubin@shnny,org.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 11
Bridge Street Development Corporation is hosting a
series of Webinars: What to Expect When Facing
Foreclosure.
September 15, 6:30-8:00 pm: Safeguarding Your
New Home.
October 13, 6:30-8:00 pm: Surprising Facts
Apartment Renters Should Know About
Foreclosure.
To register for the webinar visit the website at:
https://bridgestreet.megameeting.com/register.html?Con_I
D=4fac957b-6a5f-4e58-927b-83bb00459baa. For more
information call (718) 636-7596 ext. 14.
AUGUST
August 27, 6:00 8 pm: Free Seminar: How To Hire an
Effective Contractor. Sponsored by NHS of East
Flatbush, a not for profit housing organization, this event
will discuss how homeowners can effectively screen,
evaluate contractors, and avoid being ripped off. Location:
Neighborhood Housing Services of East Flatbush, 2806
Church Avenue. (between Nostrand and Rogers Avenues.)
To reserve space, call 718-469-4679.
Calendar of Events
Submission deadline: Items for The ANHD Reader,
Calendar of Events for August 28 - September 11 must be
received by Wednesday, August 19.
The Reader is Going On-line
Beginning in the near future, our new and exciting
online newsletter, The ANHD Inc. Reader will be
delivered via email, to our dedicated subscribers
and followers.
To make sure that you continue to receive the
latest news, resources and listings in The ANHD
Inc. Reader on-line, please send an email, with
your email address, to ray.g@anhd.org.
New Offices for
the Lawyers Alliance
Lawyers Alliance has moved to 181 Madison Avenue (at
33rd Street), 6th floor, New York, NY 10016. The new
7,200 square-foot space includes an on-site facility for
Lawyers Alliances workshops that accommodates
approximately 30 participants.
I am confident that our new accommodations will play an
integral role in Lawyers Alliances ability to offer excellence
in legal services and educational programs for nonprofits,
said Executive Director Sean Delany.
The organization's telephone number, 212-219-1800, and
fax number, 212-941-7458, will remain the same. Visit
www.lawyersalliance.com for more information.
INVESTING IN
AFFORDABLE HOUSING
WITH OUR NONPROFIT PARTNERS
Call us to talk about your project
MARIADELE PRIEST
212-216-8944
The ANHD Reader, www.anhd.org, August 14, 2009 Page 12
The New York Mortgage Coalition (NYMC) is a unique collaboration of financial institutions
and community housing agencies dedicated to helping low to moderate-income families
become first-time homebuyers in the Greater New York area. Through financial workshops
and one-to-one homeownership counseling, NYMCs eight community groups educate
qualified borrowers into becoming responsible home buyers. Participating lenders provide
competitive, fixed-rate loans which may include closing cost and down payment subsidies
on a need basis.
For more information on joining the New York Mortgage Coalition please contact:
Ken Inadomi, Director
212.742.0762
Ken.I@nymc.org
Every year the New York Mortgage Coalition
helps thousands of renters prepare
for homeownership.
NYMCs Financial Institutions:
Amalgamated Bank, Astoria Federal Savings Bank,
Bank of America, Capital One Bank, Citibank, EverBank,
HSBC, JPMorgan Chase, M & T Bank.
NYMCs Community Housing Agencies:
Asian Americans For Equality, Cypress Hills Local
Development Corporation, Harlem Congregations for
Community Improvement, Housing Partnership Development
Corp., Housing Action Council, Long Island Housing
Partnership, Neighbors Helping Neighbors,
and Pratt Area Community Council.
Creating aordable homeownership
DAVIS-BACON COMPLIANCE OFFICER
Northern Manhattan Improvement Corporation is seeking a Davis-
Bacon Compliance Officer, Weatherization Department.
Responsibilities: Monitoring contracts: including consulting, and
professional services, construction and other services. Performs
complex review of NMIC and NMIC subcontractors payroll
compliance using Davis-Bacon prevailing wage standards and
applicable City Ordinances for city, federal and federally assisted
construction projects. Conducts on-site interviews with NMIC
contractors, vendors and their employees to confirm contractual
compliance. Qualifications: Bachelors degree in Business
Administration; Three years of experience directly supervising and/or
performing public procurement activities; performing pre-award,
contract negotiation and post-award contract compliance activities;
Work experience may be substituted for educational requirements. Great
benefits. To apply send resume/cover letter to (212) 928-4180, or
employment@nmic.org (with position of interest in subject line).
DIRECTOR OF PROPERTYAND ASSET MANAGER
Leading nonprofit NYC housing agency seeks Director of Property
and Asset Manager. Qualifications: Ideal candidate must have strong
background in DHCR registration, LIHTC reporting, negotiation with
contractors, commercial and residential leasing and Yardi. Minimum 3
years experience in supervisory role in property management required.
Send cover letter and resume to mortiz@hopeci.org.
ESOL TEACHER/FAMILY LITERACY COORDINATOR
Northern Manhattan Improvement Corporation (NMIC) seeks a
full-time ESOL Teacher/Family Literacy Coordinator.
Responsibilities: Implementing student-centered, thematic lessons
focusing on communicative competence; Oversee the Family Literacy
Program; Manage the programs outreach/recruitments efforts.
Qualifications: BA/BS; MA/MS; at least two years of ESOL teaching
experience/administrative experience. Bilingual Spanish (oral and
literacy) required. Great benefits. Send resume and cover letter to
(212) 928-4180 or employment@nmic.org (with position of interest
in subject line). NMIC is an Equal Opportunity Employer and actively
encourages candidates of diverse backgrounds (men and women) to
apply.
PROGRAM MANAGER/LIFE
SKILLS ADVISOR JOB DESCRIPION
Harlem Congregations for Community Improvement (HCCI) seeks
a Program Manager/Life Skills Advisor. Responsibilities:
Coordinate and supervise the daily operations of the supportive housing
program. Connecting and networking with community organizations;
Facilitate monthly life skills seminars. Make case presentations;
referrals and follow up to service providers; Monthly program reports;
Perform intense case management. Qualifications: Masters in Social
Work, Psychology, Sociology, Human Services or other related fields.
Professional experience of 2 - 4 years in youth development, children
and families. Three to four years of experience in individual counseling.
Salary: Commensurate with Experience. Mail or fax resume and
cover letter to Carlisa Brown-Simons, Executive Assistant for HCCI
President to 212-281-8102 or E-mail: csimons@hcci.org. EOE
PROJECT MANAGER
Manhattan Valley Development Corporation is seeking a Project
Manager. Responsibilities: Assisting in overseeing all phases of the
repositioning of five LIHTC projects containing 300 units that have
and/or will reach Year 15 over the next several years and for assembling
the financing and program support to green the entire MVDC
portfolio; Coordinate project teams including attorneys, consultant
engineers, architects, and contractors, and work closely with NEF and
HPD; Identify and apply for energy retrofitting financing and assist in
writing funding proposals. Qualifications: BA/BS degree with two
plus years of work experience in housing, government, finance or
planning; experience with project coordination and producing under
deadlines; navigating government agencies and programs;
demonstrated problem solving ability; knowledge of affordable housing
underwriting; knowledge of Excel. PREFERRED: MPA, MAor MBA
in planning, policy or finance; knowledge of the LIHTC; experience in
working with HPD; familiarity with NYSERDA programs. Bi-lingual
Spanish-English Language. Salary: $45-$55,000 depending on
experience, plus benefits. Send resume and cover letter to Dena
Davis, Executive Director, MVDC. Fax: (212) 749-4466. Email
ddavis@mvdc.org.
MORTGAGE FORECLOSURE PREVENTION COUNSELOR
The Cypress Hills Local Development Corp. (CHLDC) is seeking a
Mortgage Foreclosure Prevention Counselor. Responsibilities:
Producing educational seminars on refinancing, credit and budget
management, avoiding foreclosure and home repair issues; Identifying
and outreach to, homeowners with mortgage arrears; Provide
comprehensive mortgage default
counseling; Acting as liaison and
advocate between homeowners in crisis
and their lenders. Qualifications: B.S in
Business, Urban Planning, Social Work
or related field. One to three years
relevant work, or equivalent education
and work experience. Excellent
communication skills. Computer literate.
Bilingual- English/Spanish Salary:
$35,000 - $40,000 depending on
education and experience, plus benefits.
Fax or send cover letter and resume to:
Rene Arlain, Director of Housing
Counseling, Cypress Hills LDC- 3214,
Fulton St.; Brooklyn, NY 11208. Fax:
(718) 647-2104 or Email:
renea@cypresshills.org.
The ANHD Reader, www.anhd.org, August 14, 2009 Page 13
Job Listings
To place an ad in the next issue, fax copy to ANHD at
(212) 747-1114 or email ray.g@anhd.org. The deadline
for the August 28th issue is August 19nd.
Price List for Job Listings:
1 issue: $35, 2 issues: $60, 3 issues: $75
ANHD members in good standing will receive one issue with job listing at no charge.
PLEASE limit copy to 100 words. ANHD INC.reserves the right to edit text.
To place an ad in the next issue, fax copy to The ANHD Reader at (212) 747-1114 or email to ray.g@anhd.org.
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New York, NY 10038
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