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Enterprise Communities Plus Unites Housing and Financial Capability in New York City [[link removed]]
Practitioners often note that housing can be used as a platform to support additional services for low-to-moderate income families. Enterprise Community Partners (Enterprise) began their pilot program, Enterprise Community Plus (EC+), in 2018 to provide financial capability services to residents in two neighborhoods in New York City. Through this program, Enterprise seeks to develop a network of service providers dedicated to supporting the housing developments and introduce rent reporting for credit building and matched savings accounts to residents.
Prosperity Now joined the implementation process in May 2018. While the pilot is ongoing, we’ve learned several important lessons including:
A strong central agency is vital to effective coordination of services and activities between networks of organizations. The coordinating agency should foster early engagement in the planning process by all stakeholders including neighborhood hubs, property managers and residents. Outreach efforts should be tailored and tweaked throughout the program design process to allow for maximum engagement from residents. In particular, determining the target population for services is a key support of outreach efforts. There is a need for flexibility within these programs, so organizations must be willing to adapt. Participating organizations should monitor uptake to determine if the programs are right for resident needs.
Check out our full brief [[link removed]] here [[link removed]]
Financial Literacy Act of 2019 [[link removed]]
The House of Representatives passed the Financial Literacy Act of 2019 (H.R. 2162) which provides a quarter-point discount on the Mortgage Insurance Premium (MIP) for homebuyers who are applying for an FHA mortgage and have completed a HUD-approved housing counseling program. The value of this legislation is that it provides an incentive for homebuyers to engage with housing counselors early in the process and get the benefit of independent information as well as a thorough review of their finances and credit, guidance on the homebuying process and access to downpayment assistance.
Read the legislation here [[link removed]]
In The News Freddie Mac Survey Highlights Affordability Challenges of Renters and Homeowners [[link removed]]
The "Profile of Today's Renter and Owner," [[link removed]] a survey issued by Freddie Mac twice annually, polled 4,040 respondents, including 2,864 homeowners and 1,119 renters, over a four-day period in April. Results from the survey show that affordability issues continue to have profound impacts on homeowners and renters—with more than half of Americans making spending or housing changes to afford their monthly housing payment. For younger generations, the costs of child care and student loans are key factors affecting housing decisions. Read more [[link removed]]
The Global Housing Affordability Crisis [[link removed]]
A recent report, “Affordable Housing: Profiles of Five Metropolitan Cities,” commissioned by Metropolis, Singapore’s Centre for Liveable Cities and the City of Montréal, explores how five different metropolitan governments—Berlin, Buenos Aires, Kuala Lumpur, Montréal and Singapore—approach the issue of affordable housing. Read more [[link removed]]
In The Network Camp Prosperity is Back [[link removed]]
Camp Prosperity is back! Join Prosperity Now as we host a free, three-week virtual learning adventure designed to strengthen your advocacy skills and connect you with peers across the country. Included in this advocacy training program are summer camp-inspired activities, access to tips and resources from our experts in the field, weekly prizes for our most engaged campers and, most importantly, peer-led "fireside chats." At the conclusion of camp, we'll also award one camper with a complimentary registration for the 2020 Prosperity Summit! Camp Prosperity will officially kick off on Tuesday, July 23 and will conclude on Tuesday, August 6.
Register here [[link removed]]!
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