1. Affordable Housing 101 Professor Tim Iglesias University of San Francisco School of Law Bay Area Social Justice Forum Holy Names University February 11, 2012

2. Housing Problems Supply Quality Affordability

3. Housing Problems Continued Discrimination Location

4. Necessary Elements of Housing Production Project Concept & Design Finance Land Government Land Use Approvals

5. Types of Affordable Housing Needed Homeownership Multi-Family Rental Special Needs (homeless people, seniors, persons with disabilities)

6. Market-Rate “Affordable Housing”? Depends upon the local market Typical building types (manufactured housing and secondary units) and sometimes apartments & detached houses Not likely to serve all in need Risks: price increases and/or quality decreases and/or poor location

7. Affordability Gap Affordability Gap = Costs to build and operate housing – Revenues from rents if tenants only pay traditional affordability standard (30% of income)

8. Levels of Affordability (Measured by Area Median Income) Moderate Income Lower Income Very Low Income Extremely Low Income

9. Who Needs Affordable Housing?

10. For-Profit Developers vs. Non-Profit Developers Financial Needs Incentives Experience Consequence for supply (“Third Sector Housing”)

11. Some Examples of Contemporary Non-Profit Affordable Housing

12. Ways to Bridge the Affordability Gap Demand subsidy (e.g. Section 8 program) Supply subsidy (e.g. “Public Housing” and LIHTC program) Regulation (e.g. Housing Element Requirements and Inclusionary Zoning)

13. Sources of Funding and Programs Federal Government State Government Local Government Private Foundations

14. Some Current Challenges Government Funding Cuts: Past, Present and Future (Redevelopment Agencies = R.I.P.) Anti-Regulatory Environment Current Homeowners’ Fears About Property Values Excess Supply of Mostly Single Family Houses from Financial & Foreclosure Crises Scapegoating Fannie Mae, Freddie Mac and CRA for Financial Crisis

15. Some Signs of Hope Housing on the Front Burner of Politics Affecting More Than Just Low-Income Successful Track Record of Community Developers

16. Some Roles for People of Faith Educate Decision-Makers and Opinion Leaders

17. Some Roles for People of Faith Continued Advocate for Meritorious Development Proposals

18. Some Roles for People of Faith Continued Work in the Field of Affordable Housing Development and Fair Housing

19. Questions?