Press Room

FOR IMMEDIATE RELEASE

Contact:
Tabitha J Lacy, Communications
Lois Chenier, Grants Officer
Housing Enterprise of Central Alabama: 323-9888

Affordable Housing Conference next week to deal with barriers to home ownership for low- and moderate-income families in Birmingham

BIRMINGHAM, March 29, 2004 — The Housing Enterprise of Central Alabama (HECA) will host an affordable housing conference next week that will reconvene all sectors of the affordable housing industry to address home ownership barriers for low- and moderate-income families in Birmingham.

The meeting will be Monday April 5 at the Regions Financial Corp. Training Center, 105 Vulcan Road. Registration is at 8:30 a.m. The conference ends at noon.

Speakers include: U.S. Congressman Artur Davis; Birmingham City Council President Lee Loder; City of Birmingham Director of Community Development Jim Fenstermaker; HECA Board Chair Ted Kennedy, Founder, BE&K Inc.; and HECA Chief Executive Officer Michele Jenkins-Utomi.

Last December, Congressman Davis brought together Birmingham area affordable housing industry participants to meet with their peers from Boston to learn best practices of the Boston attendees, and to begin a collaboration of the local group. The April 5 meeting will be a follow-up work session to deal with industry challenges brought up at the initial conference, and will include only Birmingham area participants.

"Housing has been a priority for my office because home ownership is so vital to community development," Congressman Davis said. "For most American families, a home is the only instrument of wealth that that family will ever possess. At the same time, safe, decent, affordable housing conditions are the cornerstone of any prosperous city. If we fail to meet the commitment to a robust home ownership environment, and if we fall short of completing our housing goals, Birmingham will fail to realize its potential as a 21st Century American City."

Agenda topics include: Developing strong Community Development Corporations; developing a market for affordable homes in Birmingham; and furthering collaboration in the industry.

"We are very excited to continue the work of Congressman Davis in bringing together the people and the resources that can help reduce barriers to home ownership," said Ms. Jenkins-Utomi, HECA CEO. "A critical mission for HECA is furthering collaboration among those devoted to building safe, decent, affordable housing."

HECA opened in April 2003 to provide capital and technical assistance to the affordable housing community. HECA is a joint venture comprised of leading institutions in the area including AmSouth Bank, Regions Bank, Compass Bank and New South Federal Savings Bank. HECA's initial funding capability is nearly $64 million.

HECA also works in tandem with a charitable foundation, the non-profit Housing Fund of Central Alabama. In addition to financial institutions involved with HECA, supporting organizations are: the Calhoun County Community Foundation, The Community Foundation of Greater Birmingham and the Walker Area Community Foundation.

HECA grew out of an affordable housing initiative launched in 2002 by Region 2020, a citizen-driven non-profit that advocates regional cooperation. HECA serves 12 counties in Central Alabama: Bibb, Blount, Calhoun, Chilton, Cullman, Etowah, Jefferson, St. Clair, Shelby, Talladega, Tuscaloosa and Walker.

HECA is located in downtown Birmingham at the Center for Regional Planning and Design, 1731 First Ave. N., Suite 120, in the historic Young & Vann Supply Co. building.

Corporate support for the conference comes from Regions Financial Corp., Fannie Mae and Coca-Cola Bottling Co. United.

For more information, contact HECA at 323-9888 or info@housingenterprise.com.

HECA is an Equal Housing Lender.