Posted on Thursday, March 4, 2010
About the National Community Stabilization Trust
The National Community Stabilization Trust has established a framework to manage, rehabilitate and deliver Real Estate Owned (REO) properties to new owners and renters. At the heart of this framework is collaboration.
The Stabilization Trust works with state and local governments, HUD and nonprofit and for-profit local organizations to help build local programs that can lead the way to the successful transformation of neighborhoods. Additionally, business relationships have been established with financial institutions to help make the local programs more cost-effective.
The Stabilization Trust and its founding partners are committed to building the capacity of local housing providers by providing targeted technical assistance and sharing best practices to create a successful and fast response to this growing nationwide crisis.
By building strong public-private collaborations, the Stabilization Trust will leverage federal Neighborhood Stabilization Program (NSP) funding to ensure maximum impact.
About the Stabilization Trust's Founding Sponsors
The National Community Stabilization Trust is sponsored by six nonprofit organizations with national reputations for innovation in community-based housing and economic development. All of the organizations have been directly involved in activities to address foreclosure prevention, loss mitigation and issues facing communities across the country that are resulting from the foreclosure crisis. Local organizations affiliated with each of the Sponsors are active in their communities to address these issues.
Enterprise Community Partners
Enterprise Community Partners ("Enterprise") is a national nonprofit with 25 years of experience in the community development and affordable housing field. As one of the nation's leading nonprofit organizations, Enterprise is active in more than 800 communities around the country. Working directly with community development partners, Enterprise developed more than 200,000 affordable homes serving over a half a million low-income people, as well as comprehensive support systems necessary to sustain a community's growth, childcare, job training and education.
Housing Partnership Network
The Housing Partnership Network ("the Network") is an award-winning business alliance of the nation's top performing nonprofit development organizations. Network members develop, manage and finance affordable homes that revitalize communities and provide economic opportunities for lower-income and working families. Entrepreneurial, innovative, and grounded in local markets, the Network forges partnerships with the private and public sectors to achieve large scale impact. Through the Network, members share knowledge and innovation, collaborate on business development, and advocate for policy changes to increase their performance and sustainability. Cooperative social enterprises organized by the Network enable nonprofits to pool their resources to access the capital markets on terms that reflect their scale and superior performance.
Local Initiatives Support Corporation
Local Initiatives Support Corporation ("LISC") helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones - good places to live, do business, work and raise families. By providing capital, technical expertise, training and information, LISC supports the development of local leadership and the creation of affordable housing, commercial, industrial and community facilities, businesses and jobs.
NeighborWorks America, is a national nonprofit organization created by Congress in 1978 to provide financial support, technical assistance, and training for community-based revitalization efforts. NeighborWorks America creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. Composed of three interrelated components - NeighborWorks, America, the 230 plus local nonprofit organizations that are members of the NeighborWorks network and Related Capital Corporations - the NeighborWorksÂ® system has generated significant investment in thousands of underserved communities across the nation as an effective and efficient model for leveraging significant private-sector resources in support of community revitalization and affordable housing opportunities.
National Council of La Raza
The National Council of La Raza (NCLR) - the largest national Hispanic civil rights and advocacy organization in the United States - works to improve opportunities for Hispanic Americans. Through its network of nearly 300 affiliated community-based organizations (CBOs), NCLR reaches millions of Hispanics each year in 41 states, Puerto Rico, and the District of Columbia. To achieve its mission, NCLR conducts applied research, policy analysis, and advocacy, providing a Latino perspective in five key areas - assets/investments, civil rights/immigration, education, employment and economic status, and health. In addition, it provides capacity-building assistance to its Affiliates who work at the state and local level to advance opportunities for individuals and families. Founded in 1968, NCLR is a private, nonprofit, nonpartisan, tax-exempt organization headquartered in Washington, DC. NCLR serves all Hispanic subgroups in all regions of the country and has operations in Atlanta, Chicago, Los Angeles, New York, Phoenix, Sacramento, San Antonio, and San Juan, Puerto Rico.
National Urban League
Established in 1910, the National Urban League is the nation's oldest and largest community-based organization devoted to empowering African Americans to enter the economic and social mainstream. Today, the National Urban League spearheads the non-partisan efforts of its local affiliates. There are over 100 local affiliates of the National Urban League located in 35 states and the District of Columbia providing direct services to more than 2 million people nationwide through programs, advocacy and research. With respect to neighborhood stabilization efforts, the National Urban League will focus on economic development/workforce issues, homebuyer education and resident empowerment. From their site.