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ICBA President Touts Success of Local Programs to Expand Homeownership

Washington, D.C. (November 14, 2005) - The Independent Community Bankers of America's (ICBA) President and CEO Camden R. Fine, as chairman of the Homeownership Alliance, lauded local housing programs and best practices as helping raise the level of homeownership among families of modest means.

"Homeownership is a foundation of our nation because it affords people from all walks of life a piece of the American Dream," said Fine in a teleconference announcing the results of "Affordable Homes: Best Practices for America," a survey conducted by the Homeownership Alliance. "Many local governments have enacted programs to help make homeownership more available and affordable. These best practices range from assistance with down payment and closing costs to developer incentives for the provision of affordable housing. A number of these successful programs also involve the assistance of private or non-profit organizations."

The initiatives summarized in the report represent both demand- and supply-side efforts to make homeownership more affordable. Demand-side initiatives serve to assist aspiring homeowners in financing a new or existing home they might otherwise not be able to afford. Supply-side efforts serve to increase the supply of affordable homes in a given area.

Also participating in the teleconference were: Rick Davis, Homeownership Alliance; Shannon Carey, Atlanta Neighborhood Development Partnership, Inc; Michael Guye, City of Baltimore Office of Homeownership; Candace Sheehan, Washington State Housing Finance Commission;Gabe del Rio, San Diego Community Housing Work; Lisa DeBrock, Washington State Housing Finance Commission; Karen Carlson, Washington State Housing Finance Commission; Robert Mulderig, District of Columbia Department of Housing and Community Development; and Mark Patterson, City of Pittsburgh Housing Authority.

For more information about the study, visit: www.homeownershipalliance.com.