The Dudley Street Neighborhood Initiative Revitalization Plan: a Comprehensive Community Controlled Strategy

Cover The Dudley Street Neighborhood Initiative Revitalization Plan: a Comprehensive Community Controlled Strategy
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o Initiate discussions with active mortgage bankers and others involved with the housing finance industry to seek potential underwriting and bond issue support for the mortgage pool concept.
o Initiate discussions with FNMA, FREDDIE MAC, National Cooperative Bank to seek support and underwriting criteria for their potential participation in a mortgage pool effort.
o Initiate discussions with "linkage" developer entities to ascertain level of interest and support for participation in a Dudley ef
...fort.
o Refine the gross project costs and opportunities based on the level of detail needed to consumate pre-commitments by potential project supporters.
o Refine the relationship of DSNI to the development process in light of the current operational decisions with respect to the project.
o Establish the development mechanism and seek funding for the same, of the implementation entity or capacity which will be charged with making the project happen.
The replicability of the approach used in Dudley may be attractive to those entities seeking reasonable solutions to the af f ordability issue around the country.


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