LISC and the National Equity Fund drive critical new HUD program

LISC and its affiliate, National Equity Fund, have been helping lead the implementation of HUD's new Rental Assistance Demonstration (RAD). The program is designed to attract private capital to rebuild deteriorating public housing, and in the process help build stronger communities and create jobs. Karen Przypyszny, NEF senior vice president, joined HUD Secretary Shaun Donovan for the January 10 announcement of the first 13,000 units to qualify under RAD, setting the stage for $650 million in private investment.

14 Jan 2013

HUD Secretary in Savannah: New Program Can Save Many Public Housing Units

Joanne Merrigan, WSAV News 3

Excerpt:

(Savannah, GA) A safe, decent place to live. It's something all of us want, even the poorest among us. While many turn to public housing, there are 10,000 to 15,000 public housing units lost each year because of lack of repairs and renovations to bring the units in compliance with health and safety codes.

Wednesday, Housing and Urban Development Secretary Shaun Donovan was in Savannah to make a major announcement he said will bring an infusion of private cash into the public housing arena to pay for renovations and to keep public housing alive for the thousands in Georgia who need it along with the tens of thousands of people nationwide.

"We can't afford to lose this precious resource, we've got to keep a roof over families' heads," Donovan told reporters. "But we all know that our fiscal situation in Washington and across the country is tough. So, how are we going to find the resources to keep these apartments in decent, safe conditions and to allow kids growing up in those homes - a safe place to live?" Continued[+]...

> Read the full WSAV News 3 article.

Public housing looks for outside investors

Jim Burress, Marketplace Morning Report

Excerpt:

Thursday afternoon in Savannah, Ga., the head of the Department of Housing and Urban Development will unveil a pilot program meant to address poor maintenance conditions at public housing developments across the nation. HUD’s idea? Let outside investors fix them up.

And no one is more excited at the possibility than Tamika Cummings. For the past six years, the 37-year-old has made unit 3219-B in Tobie Grant Manor, home. But Cummings says she wants something nicer for her three children who still live with her in the metro-Atlanta city of Scottdale.

“The units—they’re old,” she says, standing under her carport with a 1980s Ford Thunderbird parked behind her. “I’m thankful. But it’s time for something new.”

Pete Walker agrees it’s time for something new. Walker heads DeKalb County’s Housing Authority. He says times have changed. The concept of public housing has changed. But Tobie Grant Manor hasn’t changed much since it was built in the late 1960s. Continued[+]...

> Read the full Marketplace report on American Public Media's website.

Article Type: News