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- | NMCRC
Building Capital, Economic & Community Development Programs & Relationships Meetings AUGUST 17 · 2:00 - 5:00 PM Community Rooms, Staff Meeting Rooms, and Other Hotel meeting rooms will be made available to Bankers, Community Leaders, Construction Suppliers, and other key attendees to hold private local, regional, or national meetings that assist them in building valuable relationships with participating banks, companies, and Black & Latino community leaders attending the 2022 National Black & Latino Economic Summit. Back to Agenda
- Vanessa McCleary | NMCRC
Vanessa McCleary CEO & Founder Gen-Wealth Empowerment Center After 25+ years helping to revitalize and build wealth in low-income communities working for non-profit agencies and local government, Vanessa McCleary decided to start my own company. Her experience working with non-profit agencies, local, state, federal govt and advocacy groups are no longer constrained by the internal politics that impede and slowdown transformational change. With successes every year for the past 25+ years in four different states she is ready to become the largest African American Female Affordable Housing Developer in the America. Vanessa is a disconcertingly candid, passionate, knowledgeable housing specialists who dreams of a world where everyone is securely housed. A relentless worker with strong intuitive powers, she succeeds in all her endeavors. Vanessa is a community development professional with extensive housing expertise and personnel management experience • Skilled in real estate projects including affordable housing rehab, new housing development (single family, multi-family and mixed use), historic restoration of commercial and residential properties, neighborhood revitalization, housing the homeless, disaster recovery and redevelopment• Managed the Douglas Block Revitalization project and secured financing to restore the historic African American economic hub, and marketed and secured tenants for the project, achieving 90% occupancy in less than one year • Revitalized neighborhoods through strategic investments to deconcentrate poverty, increasing the tax base and building wealth for legacy residents, • Assisted non-profit agencies in 4 different states (New York, Delaware, North Carolina, and Delaware) to secure both public and private grant funds to support housing projects. Vanessa received her B.S. in Human Services from Springfield College, MA. She is a Diamond Life member of Delta Sigma Theta Sorority Inc and has been active in every community that she has lived giving of her time, talent and treasure to help individuals and families in need. Currently she is pursuing a General Contractors license.
- | NMCRC
Track One Access to Capital & Improving Community Development Financial Institutions (CDFI) AUGUST 19 · 1:00 - 3:00 PM CDFI’s were developed to take risk and become a critical capital intermediary for both small businesses and affordable housing development. But the lack of capital (debt & equity), extensive overhead, high cost of capital and arduous underwriting process has resulted in CDFIs having marginal capital impact for Black & Latino businesses and affordable housing developers. This session brings together CDFI professionals, key banks (regional and national), small business organizations, affordable housing developers and audience members to discuss these obstacles and solutions that will result in significantly increasing the amount of loans to Black & Latino small businesses and affordable housing developers. Back to Agenda
- | NMCRC
Purchase/Rehab Loan Products That Maximize Black & Latino Home Equity AUGUST 19 · 10:30 AM - 12:00 PM The racial wealth gap is driven not by homeownership but by home equity. Home equity represents a majority of the wealth components within household wealth. This session will focus on various home loan products that provide an opportunity for Black or Latino home buyers to maximize their ability towards building home equity. Community housing experts, bankers, and housing industry professionals come together to provide the audience with an overview of home/rehab loan products that are beneficial for Black & Latino home buyers. Takeaways: How to use FHA and/or Conventional purchase/rehab mortgage financing to acquire affordable homes that need rehabilitation How can HUD and the GSEs revise product guidelines to increase loan originations for nonprofit single-family housing developers Mortgage programs that develop equity for Black & Latino households – the role of SPCPs Panel Discussion Topics: Overview of FHA 203K Program & How it works Streamline (Limited) FHA 203K - Standard FHA 203K FHA Nonprofit Mortgagor Program Changes (policy recommendations) Overview of Conventional Purchase/Rehab Mortgage Financing Products Fannie Mae Homestyle Renovation Product Freddie Mac CHOICERenovation Product The Originator’s Perspective – who’s making these loans? Banks – what do banks need to originate more loans? Mortgage Brokers – what does a typical transaction look like? Underwriting the Borrower Nonprofit single-family housing developer Owner occupant homebuyers Developing Special Purpose Credit Programs (mortgages) for Black & Latino Households Back to Agenda National Fair Housing Resource
- | NMCRC
Bank Spotlight AUGUST 18 · 8:30 - 10:00 AM Racially Relevant Access to Capital (Housing, Home Ownership, Small Business) Banks to present their programs targeting racially relevant affordable housing & small business capital (materials to be provided for each session). Back to Agenda