Federal Funding, Local Impact: Shared Equity as a Housing Solution

Many communities facing dramatic losses of affordable market rate housing, increasing land costs, and rising costs of new construction are having to consider alternative strategies to keep their communities affordable to live. Shared equity models of housing, including community land trusts, housing cooperatives, and resident-owned manufactured housing, have emerged as a viable approach to stabilize communities from the pressures of displacement while producing new homeowners in the process.

Sponsored by NeighborWorks America, this webinar explored multiple shared equity models and the potential that they offer for communities, particularly in underserved areas, to build wealth while maintaining neighborhood identity. Panelists discussed how to develop successful shared equity programs, the financing tools available at the federal and state levels, the unique sense of autonomy they can provide for communities, and the overall benefits of shared equity programs that encourage equitable growth and maintain housing affordability.

Moderator

Kristin Siglin serves as Vice President for Policy and Partnerships at the National Community Stabilization Trust. In this role, she leads NCST’s policy advocacy to help communities address blight and high rates of vacant, abandoned and distressed properties.  She also manages the Homeownership Alliance, a policy advocacy collaborative of nonprofit developers and lenders.  Before coming to NCST, Kristin led the policy efforts at Housing Partnership Network, presenting the experience of nonprofit affordable housing developers and lenders to policymakers.  Prior to Housing Partnership Network, Kristin had a variety of roles at Enterprise Community Partners, including managing a special project that commissioned and disseminated original research on school-centered community revitalization.

Panelists

Shanti Abedin is the Director of Shared Equity Housing at NeighborWorks America. In this role, Abedin leads NeighborWorks America’s efforts to support nonprofits to build their capacity to use shared equity and cooperative strategies to support achieve lasting affordable housing, build wealth for families with limited incomes, and stabilize their communities. Abedin also managed a one-time grant program at NeighborWorks America that provided $27.5 million for neighborhood stabilization and revitalization to communities hit hardest hit by foreclosure. Prior to joining NeighborWorks, Abedin served as the Director of Inclusive Communities at the National Fair Housing Alliance (NFHA), where she oversaw the administration of community relief grants to neighborhoods that were negatively affected by discriminatory practices following the foreclosure crisis. View Shanti’s slides here.

Tony Pickett is Chief Executive Officer of Grounded Solutions Network, a national nonprofit organization with over 200 members. Working together with local community leaders, Grounded Solutions advances its mission to cultivate communities — equitable, inclusive and rich in opportunity — by implementing affordable housing solutions that last for generations. Tony’s over 35 years of professional community development experience includes successful permanently affordable shared equity housing development and thought leadership; promoting inclusive housing policies and expanding the use of community land trusts for racial equity impact.

Jenny Ortiz is Vice President and Design and Development at Neighborhood Partnership Housing Services. She has over 20 years of professional experience in affordable housing and community development working with both private and non-profit sectors. She is also the direct oversight of new developments as her project management and real estate development skill set in both single family and multi-family rental property development is extensive. Her skill set in research and development drive programmatic and organizational innovations and provide operational support for growth strategies. View Jenny’s slides here.

Kaia Peterson is Executive Director of NeighborWorks Montana. She is passionate about creating opportunities for Montanans to have safe, quality homes where they can thrive. She uses that passion to guide NeighborWorks Montana and advance financing, education and counseling, and collaborative housing solutions across the state. View Kaia’s slides here.

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