Layout 1 - Northern California Chapter of the American Planning ...

More documents

Recommendations

Info

Shared Equity models offersustainable homeownershipCondensed from HUD USERA substantially longer version of this article with footnotes,and which also offered an example from Duluth, Minnesota,appeared in HUD USER, Evidence Matters, Fall 2012.http://bit.ly/10jKHVV▪ Shared equity homeownership programs facilitate broaderaccess to affordable, low-risk homeownership opportunitiesfor low-income families.▪ San Francisco’s Below Market Rate Ownership Programbalances wealth creation for existing owners of deed-restrictedhousing units with preservation of affordability for future buyers.The social and economic benefits of stable homeownership,particularly the potential for wealth-building among low- andmoderate-income families, are well documented. Homeownershipcontinues to be out of reach for many of these households,however, particularly in the wake of the economic crisis.Although home prices have fallen in many localities and interestrates are at record-low levels, stringent lending standards andsignificant drops in household incomes have prevented many interestedlow-income buyers from becoming homeowners. The Centerfor Housing Policy reports that from 2008 to 2010, renters earningno more than 120 percent of the area median income saw theirhousehold incomes decrease by 4 percent even as housing costswent up 4 percent. As a result, the number of renter householdspaying more than half of their income towards housing costs roseby 2.8 percent during this period. Meanwhile, the foreclosurecrisis heightened awareness of the risks of homeownership forlow-income and minority families. Faced with these challenges,a growing number of communities are turning to sharedequity homeownership.Calling card advertisements support theNorthern News. For more information onplacing a calling card announcement andto receive format specifications, contact:Scott Davidson, AICP, Advertising Director(510) 697-2280scottdavidson2@comcast.netAn alternative homeownership optionShared equity homeownership offers an alternative to renting andtraditional homeownership. The term refers to an array of programsthat create long-term, affordable homeownership opportunities byimposing restrictions on the resale of subsidized housing units.Typically, a nonprofit or government entity provides a subsidyto lower the purchase price of a housing unit, making it affordableto a low-income buyer. This subsidy can be explicit, in the form ofdirect financial assistance, or implicit, in the form of developerincentives for inclusionary housing. In return for the subsidy, thebuyer agrees to share any home price appreciation at the time ofresale with the entity providing the subsidy, which helps preserveaffordability for subsequent homebuyers.(continued on page 19)Northern News 8 May 2013
From the editorNaphtali H. Knox, FAICPAs I write this, it’s 12:30 pmon Thursday, April 18, andwe are just airborne on United753 from Chicago to San Francisco. I’ve had afrustrating night with very little sleep since Iarrived at O’Hare airport a day ago for a 4 pmboarding of my originally scheduled flight. If youhaven’t already heard from other planners whotraveled to the national APA conference, Chicagoexperienced, in the words of the TV newscasterthis morning, “a once in a century deluge ofBiblical proportions.”“Getting there is half the fun” hasn’t been avalid slogan for decades, but Chicago was fun. Aplanner from central Illinois asked me, “What doyou get out of these conferences? Did you comehere for the sessions, or because this is Chicago?”“Chicago,” I answered. The city itself, but also myprevious ties to it: I was director of physical planningand construction at the University ofChicago from 1966–72.My membership category is “Life” and I’m fullyretired, so I’m exempt from the CM requirements.That left me free to attend only five indoor sessionswhile enjoying — despite the cold, windy, and rainyweather — four outdoor workshops/guided tours: a bustour of Chicago, a boat tour of the Chicago River and itsexpanding Riverwalk, a Segway tour of Hyde Park and theUniversity of Chicago, and a walking tour of downtownEvanston. All were educational and worthwhile — withsunshine for the duration of the river and Evanston tours.On the subject of the weather, the Philadelphia,Minneapolis, and San Francisco conferences were held inthe cold and rain. I remember when AIP and ASPO heldseparate conferences, one in the spring and one in thefall. When the organizations combined, the national APAconference went to the spring, and the state conferenceswere held in the fall. Should APA continue to scheduleour annual conferences during the spring when theclimate is so changeable in so many cities? What areyour thoughts?The Chicago weather dampened a number of mobileworkshops and tours and inconvenienced many speakersand attendees. I joined two-dozen hardy souls who took achance on the weather for an awesome Segway tour of therenewal of 53rd Street, the major commercial arterial ofHyde Park, and The University of Chicago, six milessouth of the Loop. The morning was gray but dry,fitting for a university known as “The Gray City.”http://bit.ly/11vHa2TSegway travelers on the mile-long Midway Plaisance, looking northwest fromWoodlawn Avenue to The University of Chicago. http://bit.ly/c4v12vInventing the next American economyOn Sunday morning, Xavier de Souza Briggs, the openingkeynote speaker, aptly presented a data-dense explanationof the myths of economic development as practiced, andwhat we might aspire to instead. That evening (and unrelated),a large number of northern California plannersgathered at the Public House on State Street (that greatstreet) for some serious networking. Expect an articleand pub photos in the next issue.Does dis bus go to da Loop? No, it goes beep-beep.Unlike other APA conferences, private buses were notprovided for some major off-site events. I boarded aChicago Transit Authority bus for the three-mile tripto North Wells Street for the comedy club show, SecondCity’s Chicago (lol). I repeated the trip for the OpeningReception at the Chicago History Museum (an impressiveplace). The buses were on time as advertised, super clean,comfortable, and the exact location of the next bus couldbe tracked via smartphone.Did you attend the conference?Email me about your experience — thumbs up or down —and we’ll publish the most interesting submittals in theJune issue. Send to knoxnaph@gmail.com, subject:Chicago experience. nNorthern News 9 May 2013
Page 1: NORTHERN NEWSAmerican Planning Asso
Page 4 and 5: The display of calling cards from f
Page 6 and 7: Meet a local planner (continued fro
Page 10 and 11: Other top storiesBalloon view of Bo
Page 12 and 13: Norcal roundup (continued from prev
Page 15 and 16: On Language: How we speak and write
Page 17 and 18: Other top stories 2 (continued from
Page 19 and 20: Shared Equity models offer sustaina
Page 21 and 22: Shared Equity models offer sustaina

Layout 1 - Northern California Chapter of the American Planning ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?