Notes

Outline

NATIONAL ALLIANCE AFFORDABLE HOUSING TASK FORCE Build on and contribute to the recommendations of the National Alliance as they relate to housing affordability Facilitate the rapid dissemination of the National Alliance’s and the Task Force’s work products to the housing industry Coordinate these efforts with the ongoing work of Housing Task Force members at the state and local level and the Partnership for Advancing Technology in Housing (PATH)

WHY FOCUS ON AFFORDABLE HOUSING? Regulations and regulatory procedures can drive up housing costs by up to 40% Regulations add direct costs due to unnecessarily high or complex standards Time is money: delays in the building process reduce supply and drive up costs indirectly High cost of regulations has a greater impact on lower end of the housing market Complexity and uncertainty are a disincentive to producing lower-cost, lower-margin housing types A 10% reduction in the cost of a starter home would increase the number of renters qualified to become homeowners by 1.45 million.               (Source: Fannie Mae Office of Economics, 2000)

AFFORDABLE HOUSING TASK FORCE MEMBERS NCSBCS Fannie Mae USDA Rural Housing Service US Dept. of Housing and Urban Development Partnership for Advancing Technology in Housing (PATH) National Fire Protection Association National Association of Home Builders Membership is open…

WHY IS FANNIE MAE INVOLVED? It’s our Mission! At Fannie Mae, we are in the American Dream Business. Our mission is to tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing for all Americans. Because having a safe place to call home strengthens families, communities, and our nation as a whole. Part of the Mortgage Consumer Rights Agenda of our American Dream Commitment “...the right to be free of regulatory burdens.”

FANNIE MAE’S REGULATORY BARRIERS INITIATIVE Increase industry focus on regulatory barriers to affordable housing National Alliance Affordable Housing Task Force Local partnerships Goal to establish an initiative in each state by the end of the decade Work through our network of 53 Partnership Offices Addresses range of issues: building codes & review processes, zoning, impact fees, taxation systems, etc.

AFFORDABLE HOUSING TASK FORCE PLANNED WORK PRODUCTS Disseminate lists of available hardware and software, criteria for obtaining them, and funding mechanisms to support their use Demonstration projects of automation and streamlining systems Identify best practices and successful models Develop a guide for streamlining building regulatory processes for rural jurisdictions Gather data on the cost of regulations for residential construction Review grant criteria for federal funding to states and localities developed by Planning and Coordinating Task Force

AFFORDABLE HOUSING TASK FORCE NEXT STEPS Second meeting planned for November 8 at Fannie Mae in DC All members of National Alliance are welcome to attend