CCWBE Report

90%

• With hiring of Managing Director of the Trust being delayed for funding, emphasis is being placed on training and development of Owner Services Specialist to provide strong administrative support, along with Executive Director and Finance Manager at Voice as fiscal agent. He is someone with lived experience in homelessness, who is mastering research on database and mapping, that is key to future community/member outreach efforts, attending meetings of local/citywide allies and ecosystem service providers, and is learning the issues of asset managers, property managers and resident services providers -- whose focus is on preservation and innovative strategies, like CLTs. • By-Law changes to governance and other provisions discussed at prior meetings were updated by our outside TA Providers at the University of Chicago, Department of Law, Housing Initiatives Transactional Clinic, and we were provided guidance (11/21) on notices and voting procedures to fill current and anticipated vacancies at the next planned meeting (January 2025)

90%

• With about 80% of committed City grant funds still outstanding, and the need to meet with DPD officials on challenges of vouchering for start-up organizations (not acquisition and development projects), the organization has adjusted expectation of member benefit breakthroughs, except in the area of property tax relief, where the organization has advanced training to owners, demonstrated how appeals can yield better results with social cost appeals, and actually won approval for tax exempt status on properties slated for Trust – being realized gradually through year end with certifications and refunds.

90%

• As reported in September, Voice decided to seek an alternative lender or CDFI to be fiscal sponsor of the Dovie Thurman Affordable Housing Trust and three pilot properties slated for it. With that has come delays to the Education, Outreach & Marketing efforts – raising awareness of this kind of CLT strategy and pitching the prospect of membership to affordable housing owners. Fortunately, this adjustment and plans to develop RFP for potential new sponsors coincided with onset of technical assistance from Ownership Initiatives, with exchanges of calls, correspondence and marketing documents leading up to COLT Activation Plan Presentations December 4th. • Redrafting of TA Provider “Activation Plan” presentation material began in November, and the outline and contents for this both mirrored and informed drafting of RFP planned for late December

No

No

0

0

12

7

• The slow down of funding from City of Chicago grant resources has limited our internal capacity to advance objectives for the Dovie Trust as fast as planned, but this is only for lack of time backed by revenues. However, progress is happening every month and we have achieved most of our realistic objectives considering this limitation. The unexpected new strategy for identifying a lender/CDFI/fiscal sponsor for the Trust is seen less as a barrier or limitation to progress, and more as opportunity to enlist an institutional partner that can enhance organizational capacity going forward.

• As referenced earlier, the TA offered via Ownership Initiatives has been well-timed to support development of RFP materials in recruitment of institutional sponsor and prepare materials that can be used for multiple audiences for 2025 Outreach, Education & Marketing.