Missouri+2017

Stop the Vote to End MO State Low Income Housing Tax Credits

Rise released a statement last week concerning the vote to eliminate Missouri State Low Income Housing Tax Credits. Our friend and executive director of Missouri Workforce Housing Association, Jeff Smith, has issued a letter to help people take action now that funding plan has gone out for public comment. Please take a moment to read the letter and take the appropriate action. Missouri+2017The people that need affordable housing the most need your help!

November 17, 2017

Dear All:

This morning the Missouri Housing Development Commission voted to completely eliminate State Low Income Housing Tax Credits from its annual funding plan for 2018. In engineering this, Governor Greitens and unelected MHDC Commissioners overturned the will of the Legislature, where the LIHTC program has strong bipartisan support.

Unfortunately, it is the thousands of people on affordable housing waiting lists across Missouri who will pay the price. By overruling the Legislature’s action and withholding these resources, the Governor will force seniors, homeless veterans and people with special needs to spend an extra winter out in the cold, in shelters, or doubled-up in unsafe housing with whoever might take them in.

During his first year in office, Gov. Greitens neither attended nor phoned into any MHDC meetings. Today, however, Gov. Greitens personally phoned in to cast the deciding vote for a funding plan that – if enacted next month – will eviscerate the program that has provided housing for thousands of seniors, homeless veterans and people with special needs. If this plan goes through, the number of affordable units built and preserved will collapse, and rents will skyrocket.

The funding plan now goes out for public comment. We urge all concerned citizens to speak out, and we hope MHDC will heed the calls of those most affected, and do the right thing when the plan returns to them for approval next month.

You can do your part NOW through the magic of social media. First, please follow MO4Safe Housing on Twitter here, and ask ALL of your colleagues to join Twitter so that they can retweet and like MO4SafeHousing’s posts. You may follow my account here.

Second, read the governor’s statement here. He dubs the LIHTC program, which is one of the nation’s most successful public-private partnerships, a “failing program.” He fails to understand the time value of money, which accounts for the pricing of credits since investors are not fully repaid until approximately 15 years after they put equity towards a construction project. Please feel free to help educate him.

Best.

Jeff Smith

Executive Director

Missouri Workforce Housing Association

www.moworkforcehousing.com

(314) 323-0915 (c)

 

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Statement from Rise – MHDC Withholds Low-Income Housing Tax Credits

November 17, 2017

Missouri Gov. Eric Greitens and his allies moved to withhold state low-income housing tax credits this year. The vote came at the Missouri Housing Development Commission in Columbia today.

Rise’s President, Stephen Acree, has released an official statement concerning the decision:

This morning the Missouri Housing Development Commission voted to strip State Low Income Housing Tax Credits from its annual funding plan for 2018. By orchestrating this vote, the Governor is attempting to use the Commission to administratively overrule the will of the legislature. Sadly, low-income Missourians will suffer from this callous act.  There are tens of thousands of people on housing waiting lists across the state.  By thwarting the will of the legislature to withhold these resources, seniors, homeless veterans and people with special needs will spend another winter out in the cold, in shelters, or doubled-up with whoever might take them in. All because of political gamesmanship.

The funding plan, called the Qualified Allocation Plan, now goes out for public comment. We urge all concerned citizens to speak out. We hope that MHDC will respond to the calls of those most affected and the legislature and do the right thing when the plan goes back to them for approval in December.

Please share this post and let your voice be heard.

4th Annual Rise Up Festival – Celebrating Revitalization in St. Louis!

Media Inquiries:

Larry Perlmutter, Rise Communications and Development Manager

314-333-7008

larry@risestl.org

4th Annual Rise Up Festival – Celebrating Revitalization in St. Louis!

ST. LOUIS, Washington Avenue Historic District – June 20, 2016- Rise is proud to announce our fourth annual Rise Up Festival taking place on August 20th, 2016 in the city of St. Louis on Washington Avenue, from 15th Street to 17th Street. The festivities will start up at 2 PM and continue on into the evening until 11 PM, remaining free for all to attend!

Rise’s mission is to partner with communities to build stronger, more equitable St. Louis neighborhoods. The Rise Up Festival is a one-day street event that brings together art, music, local business, and other key elements that play a part in community building in order to celebrate revitalization in St. Louis.

A wide variety of musical performances will take place at the festival, including The Original Wailers (Reggae), Platinum Rock Legends (Rock), Roland Johnson and Soul Endeavor (Blues), and Dr. Zhivegas (Dance Music). With the broad range of genres, there will be something for everyone at the festival!

Emerging artists will attend, displaying their work and participating in a competition managed by Cultural Festivals (founders and managers of the St. Louis Art Fair). Local artisan food and craft vendor booths will be present at the festival as well.

Local restaurateurs will be providing a generous sampling of food and Urban Chestnut Brewing Company will provide the microbrew. Other attractions at the festival include a Kids Carnival and Circus Area including face painting, games, and juggling.  Fun for all ages is offered at the Rise Up Festival!

We are excited to announce the National Blues Museum (NBM) as our Blues partner for 2016. NBM will sponsor Roland Johnson and Soul Endeavor and will have a strong presence at the festival promoting the rich heritage of Blues.

“We’re so excited to have the opportunity to partner with an organization that is just as passionate about music, art and culture in St. Louis as we are,” said Dion Brown, Executive Director of the National Blues Museum. “The National Blues Museum just opened in April and to be able to help promote the blues at the Rise Up Festival is just an example of the programming we hope to accomplish.”

About Rise (www.risestl.org) Rise is a nonprofit organization that partners with communities to build stronger, more equitable St. Louis area neighborhoods.  Rise develops both affordable and market-rate housing, particularly in neighborhoods with the potential to enhance economic diversity.  Rise has developed or assisted in $700 million in neighborhood redevelopment in the St. Louis area. Rise flourishes at the intersections of public, private and non-profit sectors, enhancing the quality of life in St. Louis.

For more information about the Rise Up Festival, please visit: riseupfestival.org

Rise Up Festival

IL Governor's conf. 2016

Rise Accepts Affordable Housing Champion Award for Emerald Ridge Development

March 29, 2016–On behalf of Emerald Ridge, Rise and the Southwestern Illinois Development Authority (SWIDA) accepted the 2016 Wyvetter H. Young Award in recognition of innovation and excellence in affordable housing at the 2016 Illinois Governor’s Conference on Affordable Housing at the Hyatt Regency Hotel in downtown Chicago.  The event is co-hosted by the Illinois Housing Council and Illinois Housing Development Authority.

Rise Community Development developed Emerald Ridge in partnership with the Southwestern Illinois Development Authority (SWIDA).  The grand opening for Emerald Ridge was held on April 20, 2015.  The redevelopment consists of 46 new single-family homes, with the majority of the homes occupied by existing neighborhood residents.  The new single-family homes are affordable to families earning 60% of the Area Median Income, which includes nearly two-thirds of the residents of East Alton.

“This is an acknowledgment of a remarkable collaborative effort,” said Stephen Acree, President of Rise.  “We share a sense of pride and accomplishment for this award but the most significant accomplishment is the transformation to this area of East Alton.”

Every year the Illinois Governor’s Conference on Affordable Housing awards three Affordable Housing Champion Awards for distinguished developments, initiatives or programs in affordable housing.  These nominees stand out for their commitment to serving the Annual Comprehensive Housing Plan focus areas and one or more of the State’s Priority Populations, and for having positive impacts on the community in which they are located.

About Rise (www.risestl.org) Rise is a nonprofit organization that partners with communities to build stronger, more equitable St. Louis area neighborhoods.  Rise develops both affordable and market-rate housing, particularly in neighborhoods with the potential to enhance economic diversity.  Rise has developed or assisted in over $675 million in neighborhood redevelopment in the St. Louis area.

About the Illinois Housing Council (www.ilhousing.org) Founded in 2002, the Illinois Housing Council (IHC), a statewide non-profit organization, was created to promote the stabilization of Illinois communities through the construction and preservation of affordable housing.  IHC is comprised of industry leaders committed to advancing our mission through education, information and constructive relationships with local, state and federal officials.

About the Illinois Housing Development Authority (www.ihda.org) The Illinois Housing Development Authority (IHDA) creates opportunities for Illinois residents to build stronger futures. IHDA programs offer buyers and renters real options to make housing affordable.

About the Southwestern Illinois Development Authority (www.swida.org) The Southwestern Illinois Development Authority (SWIDA) is Southwestern Illinois’ hands-on regional economic development authority.  Through its partnerships with parties in the public and private sectors, the organization works to jumpstart investments in St. Louis’ Metro East region, helping to take plans off the drawing board and turn them into bricks and mortar.

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