Member Update
CEDAM News & Views: October 11,
2007 | |
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URGENT
ANNOUNCEMENT:
Governor
Granholm Announces Press Conference: TOMORROW,
11am
With
some of the highest rates of foreclosure in the country,
Michigan is in need of a plan to address this crisis, which
has been partly caused by predatory lending practices. The Governor will unveil
her plan to reduce our foreclosure rates and prevent
predatory lending on Friday, October 12th at 11am at the
Southwest Housing
Opportunities Center at 3627 West Vernor Highway, Detroit
48209.
Please try to attend
since this is important to our industry!
Predatory lending hearings before the House Committee
on Banking and Financial Services have already begun. Please
review the OFIS testimony that was given on October 9th before
the committee - it is available on the recently launched
Statewide Foreclosure Task Force website. In addition, the website contains many useful
documents for practitioners--please check it out! If you have
anything you would like added to the website please send it to
Alicia
Quintero.
Finally, Save the Date - The Consumers hearing on
Predatory Lending is scheduled for October 16th and the Bankers
hearing is scheduled for October 23rd, both in Room
326 at the House Office
Building. |
| CEDAM News... |
Keep your eyes out for
CEDAM's Fall Newsletter - early next
week
 CEDAM's
Fall 2007 Newsletter, featuring information about our Region 2
Roadshow, LISC's Sustainable
Communities Initiative, a feature on state best
practices of innovative fundraising
techniques, and much more, will be arriving in
mailboxes next week - if you are a member or on our
mailing list and do not receive one, please contact Emily or call at 517-485-3588 and
check to see that we have your correct
address. |
| State Politics and
Policy |
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Budget update and Michigan's Housing and Community
Development Fund
Rental Discrimination Settlement
makes Michigan history
The $725,000 settlement reached in a lawsuit on
behalf of prospective black tenants of a Livonia, Mich.,
apartment complex has been called the largest ever recovered
for a fair housing rental discrimination case in state
history, reported Michigan Lawyers Weekly. The lawsuit, filed
by the U.S. Department of Justice in April 2006, was
consolidated with another suit filed by the Fair Housing Center of
Metropolitan Detroit. Under the settlement, the company
must hire an independent property management company to handle
the application and rental
process. |
National Politics and
Policy
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Bank of America announces $25
Billion Community Development
Plan
 The Bank of
America Corporation, which completed its purchase of LaSalle
Bank on Oct. 1, announced the following day a $25
billion community development goal in Michigan to build on the
outstanding track records of the companies in delivering
capital and credit to low- and moderate-income individuals,
families and communities.
In addition,
The Bank of America Charitable Foundation today announced that
it will donate $1 million to support the NEXT
Detroit Neighborhood
Initiative
(NDNI), continuing the City of Detroit
and Mayor Kwame M. Kilpatrick's long-term effort to transform
the city into a vital economic, social and cultural
center.
"All of us at Bank of America are looking forward to
offering our customers in Detroit and throughout Michigan the
benefits of the largest, most convenient and most innovative
bank in the nation," said Kenneth D. Lewis, chairman and CEO
of Bank of America. "We're also looking forward to engaging
through our shared tradition of community development and
philanthropy."
UPDATE: The Savings for Working Families
Act - S. 871 / H.R. 1514
The Savings for Working
Families Act (SWFA) is gaining momentum--it now has 101
co-sponsors in the House and Senate! SWFA is a tax-credit
bill that would enable low-income families to have their
savings matched $1:$1 through IDAs. Financial
institutions who match the savings of IDA participants are
eligible for an annual per account tax credit of $50. The bill
also allocates $20 million to provide IDA participants with
financial education by nonprofit organizations and tribes.
Members from Michigan who are currently listed as
co-sponsors include: Senator Stabenow and Representatives
Ehlers, Hoekstra, Kildee, McCotter, and Walberg.
Please contact your legislators if he/she is not
listed!
Visit CFED's website for a template letter to facilitate your letter
writing campaign and for more information about the
bill.
Nation-wide Publications:
- The current issue of
Cityscape, HUD's periodical published three times a
year, deals with the issue of minority-homeownership and
some of the barriers that are present.
- The Fall 2007 edition of
Shelterforce discusses strategies for promoting
social and economic equity; includes case studies on New
Orleans and Portland,
OR.
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| Members & Partners
Spotlight... |
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Not online, but still important
to note:
Circle of Love
CDC in Saginaw made the front page of the Saginaw
News on September 10 for their financial education
homeownership program that they have been running for
first-time homebuyers. Executive Director Pamelia Brazil is a
member of this year's REDT class and has been putting the
training to good use. Bravo, Circle of Love! Keep up the good
work.
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Resources,
Trainings, and Events... |
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Events Coming Soon
 United Growth for Kent County
- Friday Brown Bag Luncheon
series - starting this Friday, October 12th at noon.
Contact Carol with questions.
- Michigan Hometown
Competitiveness Academy: October 15-17 at the
Kellogg Foundation headquarters in Battle Creek - provides
growth strategies and tools for rural
communities.
- KnowledgePlex ExpertChat in Seizing
Green Building Opportunites - Tuesday, October 16 at 4pm,
EST
- Building Sustainable
Communities Conference - November
7 at the Holiday-Inn South in Lansing. Put
together by Michigan LISC, Detroit LISC, and CEDAM,
this one-day conference will provide an
overview of the LISC definition of "sustainable communities"
and how this relates to LISC's investment priorities in
Michigan. The conference will include three breakout
tracks: Building Family Income and Wealth, Economic
Development, and Youth Development.
- UM/ULI Real Estate
Forum - November 7 and
8- Management Education Center in Troy (811 W. Square
Lake Road) - discussion on transit and connecting regional
town centers
For
information on other upcoming training opportunities, don't
forget to visit MITTAC
- the Michigan Training and Technical Assistance
Collaborative.
Grants
Available
Listed here
are grant opportunities previously listed in e-updates -
all due before or by October 31.
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CEDAM's Career Corner is also frequently updated
with job openings in the Community Economic Development
industry. New positions are added
often! |
Compliments of CEDAM
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