Image Spring 2008 Community Developments Cover

  A Look Inside...
A quick glimpse into the U.S. affordable rental housing need and an introduction to the newsletter content.
Image Arrow Pointing to Right A view of the landscape
  A Place I Can Afford to Call Home: How Banks Help Preserve the Nation's Supply of Affordable Rental Housing
Read Comptroller Dugan's views on preserving affordable rental housing and why banks should care.
  Saving America's Affordable Rental Housing Stock: The Need and the Role of National Banks
The disappearance of thousands of units of affordable rental units and the threatened loss of many more are the result of market and public policy factors. Read the National Housing Trust's explanation of the many solutions that have already been developed and the need for more solutions, resources, and partners.

Banking on Preservation: New Opportunities for Banks to Preserve and Improve the Existing Stock of Affordable Rental Homes
Hear how strategies to help preserve existing multifamily affordable housing are emerging from foundations, banks, and other entities, and how the MacArthur Foundation is supporting these preservation efforts.

Image Arrow Pointing to Right How banks are supporting preservation
  MB Financial: A Preservation Case Study
Learn how MB Financial saved an oasis of affordable units in a hot suburban market.
  JPMorgan Chase: A Large Bank's Approach for Preserving Affordable Multifamily Housing
Using multiple lines of business and partnering with other organizations, see how JPMorgan Chase is creating initiatives to support the preservation of multifamily affordable housing.
  PNC: Providing a One-Stop Shop for Multifamily Affordable Housing Finance
Find out how this comprehensive, one-stop shop provides an array of products to protect affordable housing.
  Wachovia: Preserving Affordable Multifamily Housing Through Relationships
Learn how Wachovia is using its internal and external relationships to support the preservation of affordable rental housing.
Image Arrow Pointing to Right Why state agencies are prioritizing preservation
  Preserving Oregon's Precious Affordable Housing Resource
Oregon recognized that it has irreplaceable resources to protect. Find out how it is supporting high priority affordable housing projects.
  State Housing Bonds Preserve Affordable Rental Housing in Massachusetts
Read how Massachusetts has successfully preserved more than 30,000 affordable rental units with its tax-exempt bonding authority and 4 percent low-income housing tax credits.
Image Arrow Pointing to Right Nonprofits lead the way in preservation projects
  Nonprofits Meet Housing Preservation Challenges
Preservation of affordable housing is complicated, and many nonprofit developers are showing that creativity and persistence can lead to success.
  Chicago's Troubled Building Initiative: Revitalizing Affordable Housing
Chicago doesn't go after the owners of badly managed properties with only a court order to repair. Learn how the city created a unique program that is helping to maximize the preservation of affordable rental housing units.
Image Arrow Pointing to Right In every issue
  Compliance Corner: Preserving Affordable Rental Housing Is a Key Consideration under CRA
Read how banks can undertake many types of investments, loans and services in support of affordable rental housing that may result in positive CRA consideration.
  This Just In...OCC's Districts Report on New Opportunities for Banks
The OCC Community Affairs group encourages national banks and other organizations to support the preservation of multifamily affordable housing. This issue of Community Developments describes how banks can engage in these endeavors.