Informe CCWBE

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• In April, the Trust facilitated a strategic planning session in lieu of a formal board meeting, where known problems were the subject of advanced preparation and strategic planning discussions. (1) Delays by the lender of first three trust properties, Community Investment Corporation, on approval of affordable housing covenants, if continued, will require re-strategizing to assure supportive or new Community Development Financial Institution Relationship. (2) The continued delays in CWEB funding for the Dovie Thurman Affordable Housing Trust, the lack of anticipated Phase III implementation support, and the additional failed attempt to secure City “TACIT” grant support in January, has resulted in a serious interruption in publicizing a job announcement for managing director of the Trust, and delays engaging an HR recruitment consultant, as prescribed in CWEB Trust workplan/budget. Without a successor follow-up funding source (with delay or elimination of CWEB Implementation Phase III) a managing director cannot be hired/retained past July 1st. The board discussed options for adding administrative support staff via Americorps VISTA Program. It discussed option to hire consultant and pursue state earmark for multi-family rental community land trust in Chicago, which we do not presently have the resources for… and, we discussed option of new CDFI grant support. (3) Our legal assistance technical assistance provider, the University of Chicago, Department of Law Housing Initiatives Transactional Clinic, briefed leaders on options for By-Law Changes, where we could incorporate tenant and new development-sponsor participants to the board, along with public private allies. Options for this will be drafted for subsequent board consideration. (4) Because of lender delays on first buildings slated for the Trust, Outreach & Marketing Plans development and start-ups anticipated on or before April, were not completed. Staff will request support from Technical Assistance Providers in May to expedite completion.

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• The most critical work in member benefits development is in area of property tax policy. Meetings with the Assessor’s staff need to restart, where a personal orientation of Commissioner George Cardenas at the Cook County Board of Review is still pending, and preparations need to begin on a summer “social cost appeals” training session planned for affordable housing owners – the primary audience for future members of the Dovie Trust. In April, however, the Social Cost Appeals Project, representing a significant benefit to non-profit and Trust owners, got a serious boost from Commissioner Samantha Steele of the Cook County Board of Review. The Commissioner not only endorsed the concept of Social Cost Appeals, but her staff is drafting procedures on processing Social Cost evidence that can result in lower valuations. She pledged cooperation, including Training at the next Summer Tax Appeal Session for non-profit owners, and offered opportunities for input by Voice into the procedures manual -- a process and initiative that could have national implications. • Preliminary indicators that efforts of more than a year to secure property tax exempt status from the State of Illinois, Department of Revenue, on three Trust properties came, to fruition in April. This will yield significant savings in the future, helping to sustain this affordable housing, consistent with the mission of the Trust, and may benefit the organization with refunds for up to three years of taxes. This kind of strategy can be employed also by future Trust owner-members, in that affordable housing covenants used in the Trust are like the penultimate evidence of charitable use.

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• Although the organization has been delayed in finalizing all branding materials, presentation materials, literature and marketing plans, it advanced the education, outreach and marketing of the Trust in various and significant ways. A presentation and update was made to the Uptown Chamber of Commerce and Uptown United in a site visit hosted by Voice. Separately, updates on property tax initiatives were made in meetings with Mark Angelini of Mercy Housing Lakefront, and with Michael Banghart of RSSI, one of the leading supportive service providers in Illinois. This organization, RSSI, can now share with their owner-clients about possible affiliation with the Dovie Thurman Affordable Housing Trust, and, provide evidence to them for their costs, as part of Social Cost Tax Appeals, to improve the financial viability of properties they work at. In an additional step forward, the Voice Executive Director with Trust Board members included, made a formal presentation specifically about the Trust to advocate partners at Northside Action for Justice. At this large group virtual session, the organization meticulously presented about what a community land trust is, explained how the Dovie Trust varies from the norm, and how “ service-enriched, permanently affordable housing” (that would be supported by the Trust going forward) needs to part of the everyday lexicon for community activists – people who can spread the word to government officials and affordable housing providers. It was a significant dry run of many presentations to follow. The content can be the subject of training for Voice’s new Housing Policy Committee / “Speakers Bureau”. What was even bigger was the promotion and raising of awareness about the Dovie Thurman Affordable Housing Trust that happened with annual celebration of history and fundraiser for Voice of the People in Uptown. A promotional video about the Trust was developed for the event, but with the planned added utility for general presentation purposes in fulfilling Outreach, Education & Marketing during the next few years. The event was attended by more than 170 people, including many public officials; housing, service, and legal representatives. This video can be viewed online at YouTube: https://www.youtube.com/watch?v=HmNav_y-spE&t=68s.

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There is no cash flow to advance to Dovie Thurman Affordable Housing Trust project, especially related to external costs of HR Recruitment consulting for a part time or full time managing director, and for the person’s planned hiring/onboarding. This results in serious constraints to internal capacity of the fiscal agent and the Dovie Thurman Affordable Housing Trust. Hiring is not prudent in the absence of CWB “Implementation Phase” funding, and in the absence of alternative community land trust organizational support.

The Sweet Home Uptown fundraising event was a major promotion, in advance and following, for the Dovie Thurman Affordable Housing Trust, including with e-newsletters and social media that reached thousands.

“If the only tool you have is a hammer, you tend to see every problem as a nail.” This is a famous quote by Abraham Maslow which refers to a concept commonly known as the 'law of instrument' or Maslow's Hammer. It refers to an over-reliance on a familiar or favorite tool. If you think acquisition and development is the only way to create affordable housing opportunities, and if you think all cooperative, resident controlled and community land trust housing must be in service to acquisition and development strategies, then you miss every chance to create and preserve affordable housing in other ways…