NEW YORK--(BUSINESS WIRE)--Dozens involving nearby officials through 12 of the regions hit toughest ...

1. “Neighborhood Stabilization Boot Camp” at
Harvard to Draw Top Officials from 12 Cities and the Obama
Administration
NEW YORK--(BUSINESS WIRE)--Dozens involving nearby officials through 12 of the regions hit
toughest by the housing crisis tend to be meeting with Harvard College March 14 -16 to develop new
strategies regarding stabilizing neighborhoods that will encounter large numbers involving
foreclosures.
"The Neighborhood Stabilization Boot Camp" can be sponsored by Living Cities collectively with all
the Ash center with regard to Democratic Governance and also Innovation at the John F. Kennedy
College in Harvard University Or College and the U.S. Department involving Housing along with
Urban Development. Living Cities, an innovative philanthropic collaborative regarding 22 with the
world's largest foundations as well as economic institutions, hopes that the intensive, two-day
session will outcome in a dramatic boost in the speed and also scale regarding smarter, more
sustainable neighborhood stabilization by:
Helping in order to define new strategies that will use a material effect on focused neighborhoods;
Sharing "game-changing" practices which will accelerate keeping units occupied and putting
property vacant units back to productive use

2. Significantly leveraging your greater than $6 billion in federal funds, having an emphasis about
accessing larger and more flexible levels of private capital
"Everyone, from government agencies and nonprofits for you to finance institutions as well as
foundations, is actually frustrated by our collective inability to obtain stabilization efforts to be able
to scale. This Boot Camp is a direct response compared to that frustration," mentioned Ben Hecht,
President and CEO involving Living Cities.
The neighborhood-level impacts regarding concentrated foreclosures could be devastating: blight,
depressed property values, diminished property tax collections plus a reduction in municipal
services - a poor feedback loop which repeats as well as worsens. Throughout 2009 alone,
foreclosures have may possess reduced property values regarding nearby homes--most owned by
simply people spending their mortgage upon time--by more than $500 billion, according for the
center with regard to Responsible Lending.
"It's essential that government at each level, alongside with the private sector as well as non-profit
community, ramp up our collective effort in order to confront the particular foreclosure crisis head
on," said HUD Secretary Shaun Donovan. "The scale regarding this challenge demands that we
redouble our efforts to stabilize neighborhoods and also restore any real feeling of sustainability in
order to our American Dream."
The Boot Camp will convene teams regarding government officials, nonprofits as well as property
firms from Baltimore, Chicago, Cuyahoga County (OH), Denver, Los Angeles, Michigan,
Massachusetts, New Orleans, Philadelphia, Phoenix, South Florida and furthermore the Twin Cities
where promising approaches are generally getting hold, together using the largest national
mortgage lenders and servicers such as Bank regarding America, JP Morgan Chase, Citigroup as
well as Deutsche Bank. Senior officials from your U.S. Department involving Housing along with
Urban Development, U.S. Department of Treasury, FHA, Fannie Mae, and also Freddie Mac may also
participate.
About Ash center regarding Democratic Governance and Innovation, Harvard Kennedy School
The Roy along with Lisa Ash center regarding Democratic Governance as well as Innovation
advances excellence inside governance along with strengthens democratic institutions worldwide.
through its research, education, international applications and government innovations awards, the
actual center fosters imaginative as well as efficient government problem-solving and also serves as
any catalyst pertaining to addressing many of your very pressing requirements in the world's
citizens.
About Living Cities
Founded inside 1991, Living Cities can end up being a special philanthropic collaborative associated
with 22 with the world's largest foundations and economic institutions. over yesteryear 18 years,
Living Cities features invested a lot much more than $600 million throughout American cities-leveraged
straight into $16 billion along with building a demonstrable difference in neighborhoods
throughout the actual nation. Our members are not merely funders. That They participate in the
senior management level around the Living Cities Board associated with Directors as well as
contribute your duration of 80+ expert staff towards crafting along with implementing an agenda
that's squarely focused on improving the particular lives regarding low-income people and the urban
areas in which these people live.

3. Living Cities Members: AARP Foundation, AXA Equitable, Bank of America, Your Annie E. Casey
Foundation, Citi Foundation, J.P. Morgan Chase & Company, Deutsche Bank, Ford Foundation, Bill
& Melinda Gates Foundation, Robert Wood Johnson Foundation, W.K. Kellogg Foundation, John S. as
well as James L. Knight Foundation, The Particular Kresge Foundation, John D. and Catherine T.
MacArthur Foundation, The Particular McKnight Foundation, MetLife, Inc., Morgan Stanley,
Prudential Financial, the Rockefeller Foundation, Surdna Basis Affiliate Members: The Actual
Cleveland Foundation, The Actual Skillman Foundation
Available for Interview:
Ben Hecht, President & CEO, Living Cities
Stockton Williams, Living Cities' Senior Advisor, Director, Green Economy Initiatives