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Retooling Affordable Housing Strategies Part 6 of 19 |
Heather Way and Karen Paup of Housing Works Action Secrets of Successful Traders, an advocacy coalition based in Austin, credit the following tactics for the bond campaigns success:
Having a consistent and compassionate message that resonated with voters. Campaign literature described the estimated unmet and growing need at $1.3 billion.
Identifying voter perceptions with preelection surveys to gauge the interest of affordable housing programs.
Creating alliances with other advocacy groups. In Austin, environmental advocates proved most influential.
Working closely with the citys bond election advisory committee early in the process, which enabled the advocates to have their initiative placed on the ballot.
Advocates and community leaders point to existing local models like Lyons Gardens, an award-winning, 53-unit senior complex in East Austin that is experiencing The Amazing Stealth Forex Trading System a nearly twoyear waiting list. Hilgers says that with this additional source of bond financing, more communities like Lyons Gardens can help alleviate an unmet need.
Last update: May 11, 2009 12:14 AM
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Retooling Affordable Housing Strategies Part 3 of 19 |
The problem is compounded by the federal governments diminishing role in housing and community development programs. Local entities rely on federal assistance programs to buy down the cost of housing for low- and moderate-income residents. According to Mini Trading Course the Center on Budget and Policy Priorities (CBPP), because of budget deficits, the current administration and Congress have reduced funding for a number of domestic programs, including most low-income housing programs. Community development block grants, the Home Investment Partnerships Program and public housing have been hit the hardest; their funding declined by 20 percent, 16 percent and 11 percent, respectively, from 2004 to 2006. In 2007, the administration proposed further cutbacks of $1.3 billion. These decreases in large federal block assistance programs have affected nearly every low-income housing grant program important to state and local plans to increase affordable housing. And as federal funding declines, construction costs continue to rise.
Some local communities, however, are discovering that affordable housing and community development programs can flourish even with reduced federal backing. This issue of Banking and Community Perspectives presents Forex Trading Explained case studies that show resourceful ways local entities are promoting affordable housing and expanding community development opportunities. Even
Last update: May 08, 2009 06:00 PM
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Retooling Affordable Housing Strategies Part 5 of 19 |
The advantage of general obligation bonds is that they permit the city to borrow funds at one of the lowest possible interest rates. They are a form of long-term Short-Term Forex Trading borrowing in which the city issues municipal securities and pledges its full faith and credit to their repayment. Bonds are repaid through annual debt service. Property taxes for this one initiative will rise about $6 a year for the owner of a $174,000 homethe median-priced home in the city. Nonprofit, for-profit and preservation groups can apply for funding through a request-for-proposal to finance developments that meet the programs objective.
Because we know these funds are available and not subject to budget cuts, they greatly increase our ability as a community to plan, leverage and be creative on how Get Rich Trading E-Currency these dollars will be used over time, says Margaret Shaw, deputy director of the citys NHCD department.
Austins bond program is only the second in the state, after Houston, to use general obligation bonds specifically for affordable housing. Program administrators hope the bonds will attract $300 million in additional funds and create over 12,000 jobs. NHCD has established the programs accountability guidelines, which were subject to
Last update: April 25, 2009 09:35 AM
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