Enterprise  Commends  House  Passage  of  HOPE  VI  Reauthorization  with  Sustainable  Development  Provisions

(COLUMBIA, Md., January 22, 2008) – Enterprise  commends  the  U.S. House  of  Representatives  on  the  passage  of  H.R. 3524,the  HOPE  VI  Improvement  and  Reauthorization  Act  of  2007. In  a  significant  achievement, this  groundbreaking  legislation  ensures  all  new  HOPE  VI  developments  will  meet  green  building  criteria  to  the  benefit  of  low ­income  families  nationwide. 
The  bill  requires  new  HOPE  VI  revitalizat ion projects  to  meet  the  Green  Communities  Criteria  for  residential  construction, or  other  similar  green  rating  systems  determined  by  the  Secretary  of  HUD. For  non ­resident ial  buildings  in  HOPE  VI  developments, the  bill  requires  the  HUD  Secretary  to  choose  an  appropriate  green  rating  system. Moreover, the  bill  provides  funding  for  technical assistance  to  ensure  developments  can  meet  the  green  requirements  cost  effect ively. 

“Enterprise  commends  and  deeply  thanks  Representative  John  Olver  (D -Mass.) for  his  strong  and  unwavering  leadership  to  ensure  that  low ­income  families  have  access  to  affordable  housing  that  is  healt hy  and  energy  efficient,” said  Doris  W. Koo,president  and  chief  executive  officer, Enterprise  Communit y  Partners, who  directed  Seattle  Housing  
Authority ’s  successful  HOPE  VI  redevelopment  efforts  from  1994  to  2000. 

The  green  building  provisions  in  H.R. 3524  were  first  introduced  by  Rep. Olver  as  stand ­ alone  legislation  and  were  incorporated  into  the  broader  HOPE  VI  reauthorization  bill  by  
House  Financial  Services  Chairman Barney  Frank  (D ­Mass.) and  Housing  and  Communit y  Opportunit y Subcommittee  Chairwoman  Maxine  Waters  (D ­Calif.). 

Koo  added, “Chairman  Frank  and  Chairwoman  Waters  deserve  praise  for  their  tireless  efforts  to  reauthorize  the  HOPE  VI  program. Their  leadership  has  meant  not  only  more  sustainable  development  but  greater  resident  involvement  and preservation  of  public  housing  and  subsidized  units.” 

HOPE  VI  resources  have  played  a  critical  role  in  the redevelopment  of  severely  distressed  public  housing  nationwide  since  1993. However, energy  efficiency  standards  have  not  been  incorporated  into  HUD ’s  select ion  criteria. Nearly  17  percent  of  a  low ­ income  family ’s  earnings  are  consumed  by  energy  costs  and  nearly  40  percent  by transportation  costs. Green  building  reduces  utilit y  costs  and  increases  a  home ’s  
efficiency, saving  a  low ­income  family  hundreds  of  dollars  each  year. 

Rep. Olver, chairman  of  the  House  Transportation ­HUD  Appropriations  Subcommittee, stated, “Cit ies  and  states  across  the  country  are  raising  the  bar  on  the  healthiness, energy  
efficiency, and  environmental  responsibilit y  of  affordable  housing  based  on  the  Green  Communit ies  Criteria  approach. And  they  do  so  because  it  makes  good  sense. Wit h  this  vote, the  110th  Congress  had  its  first  opportunit y  to  live  up  to  the  spirit  of  the  landmark  energy  legislation  that  recent ly  became  law. We  took  an  important  first  step  toward  the  Federal  government  holding  itself  to  a  higher  standard … Low ­income  families  and  
public  housing  authorit ies  are  reaping  the  benefit s  from  lower  utilit y  bills.” 

The  Green  Communit ies  Criteria  were  created  through  consensus ­based  processes  by  leading  experts  in  building  design  and  construction, public  healt h, smart  growth, and  environmental  protection. The  Criteria  promote energy  efficiency, environmentally  smart  site  planning, and  the  use  of  building  materials  that  foster  healthier  outdoor  and  indoor  environments. Some  of  the  specific  criteria  include  locat ing  new  developments  near  transit  as  well  as  promoting  Energy  Star  appliances, water  conserving  fixtures, and  low  
volatile  organic  compound  paint. 

To  date, there  are  more  than 10,000  affordable  homes  meet ing  the  Green  Communit ies  Criteria  that  have  been  completed  or  that  are  current ly  in  production  in  more  than  250  
developments  in  25  states. For  more  information  on  Green  Communit ies, please  visit http://www.greencommunit iesonline.org. 

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Enterprise is  a  leading  provider  of  the  development  capital  and  expertise  it  takes  to  create  decent, affordable  homes  and  rebuild  communities. For  25  years, Enterprise  has  pioneered  neighborhood  solutions  through  public ­private  partnerships  with  financial  institutions, governments, community  organizations  and  others  that  share  our  vision. Enterprise  has  raised  and  invested  $8  billion  in  equity, grants  and  loans to  help  build  or  preserve  225,000  affordable  rental  and  for ­sale  homes  to create vital  communities. Enterprise  is  currently  investing  in  communities  at  a  rate  of  $1  billion  a  year. Visit www.enterprisecommunity.org and  www.enterprisecommunity.com  to  learn  more  about  Enterprise’s  efforts  to  build  communities  and  oopportunity.