NHPF Thought Leadership: Symposia

Thought Leadership: Symposia

Where You Live Matters

Mission The NHP Foundation is a not-for-profit real estate organization dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities.

Vision A future where

communities flourish because attractive, sustainable housing options and life- enhancing services are ensured for income-challenged Americans. Values NHPF seeks to promote greater diversity, inclusion, racial equity, and social justice in addition to its long- established mission of providing sustainable, service-enriched affordable housing. NHPF is committed to increasing access to opportunities for historically underrepresented individuals and businesses in the development and operation of affordable housing communities.

Contents

The NHP Foundation 2021 Symposium A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus

4

The NHP Foundation 2020 Symposium

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Growing Up & Out of Poverty: Why Housing Matters

The NHP Foundation 2019 Symposium

12

Affordable Housing Investment: Impactful Returns Realized

The NHP Foundation 2018 Symposium

16

Housing & Health: The Backbone of Strong Communities

The NHP Foundation 2017 Symposium

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Pay for Success and Affordable Housing: An Afternoon of Learning, An Evening of Recognition

2021 Symposium: Richard F. Burns, President & CEO, NHPF

The 5th Annual NHP Foundation Symposium, A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus, wouldn’t be possible without participation from sponsors, partners, attendees, speakers, and staff. Thank you all for making this annual event such a collaborative success.

Today’s Symposium explores what we’re learning from ten years of housing challenges, beginning with the Great Recession to the pandemic that brought the world to its knees. 2020 certainly provided us with time to reflect on how our industry must reckon with these challenges—the impacts and ill effects that have created a country where no single county has enough affordable housing, to near daily reckonings of years of institutionalized racism to the ravishes of increased regional flooding and fires and questionable governmental policy decisions. Which brings us to today, where, although we are not quite in a “post-pandemic” world, we are fortunate enough to be together with other like-minded individuals to hold up a spotlight to the issues and forge fresh paths forward with the knowledge of years past. This year’s program, A Decade of Rental Housing Vulnerability: Lessons Learned from Financial Crisis to Coronavirus, features extraordinary examples of collaboration beginning with recognition for lawmakers who work across the aisle to prioritize housing legislation for people of low to moderate income and strive to make a difference. We will hear incisive reporting from Enterprise Community Partners, with whom we collaborated to produce a survey of decision-makers and influencers throughout the affordable housing spectrum including developers, federal, state and local elected officials and policymakers. The survey’s focus is on the factors that have contributed to the vulnerability of affordable housing throughout the last decade, drawing insights from three periods of the timeline that brought us here today:

Great Recession & Aftermath (2008–2011) Rebuilding in a Divided US (2012–2019) Pandemic & Social Upheaval (2020–2021)

Takeaways from this research serve to inform Conversations with top representatives from the important disciplines that help the industry create and preserve affordable housing and whose opinions we greatly respect as we shape affordable housing strategies for the future. Finally we will provide a look at how your generous contributions work hard onsite at our properties and some examples of young residents who have benefited. Our goal, as always is to inspire more dialog about how we in the affordable housing ecosystem can create meaningful change. So, let’s continue to converse, collaborate and cooperate on solutions we can all be a part of going forward. Again, thank you to all of the elected officials, housing experts, and speakers as well as our sponsors and attendees. That you have chosen to continue to support NHPF’s mission of providing pathways that residents can follow to achieve their own goals is extremely powerful and we appreciate each and every one of you. We hope you will enjoy our program and come away invigorated for the work ahead.

4 A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus

The NHP Foundation 2021 Symposium Corporate Sponsors

A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus 5

The NHP Foundation 2021 Symposium A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus

Symposium Co-Chairs

Sarah E. Feinberg NHPF Trustee, Founder, Feinberg Strategies, LLC

Cherie Santos-Wuest NHPF Trustee, Managing Partner Celadon Venture Advisors, Former Director Global Social & Community Investing TIAA-CREF

Ralph F. Boyd, Jr. NHPF Trustee, Chair; President & Chief Executive Officer, SOME (So Others Might Eat)

Congressional Awards 2021 NHPF Affordable Housing Trailblazer Award Honorees

Industry Awards

2021 NHPF Affordable Housing Advocacy Award Honoree

2021 NHPF Affordable Housing Leader Award Honoree

Eleanor Holmes Norton Delegate to United States House of Representatives, DC

Representative Nydia Velázquez (D-NY)

Representative Ann Wagner (R-MO)

Representative Sheila Jackson Lee (D-TX)

Keynote Speaker

Presentation A Decade of Affordable Rental Housing Vulnerability & Beyond

Moderator

Kimberly Latrice Jones Black Activist And Author

Andrew Jakabovics Vice-President, Policy Development, Enterprise Community Partners, Inc.

Laura Demaria MPA, Executive Director, National Association for County Community & Economic Development

6 A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus

The NHP Foundation 2021 Symposium A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus

A Conversation: Mayors of Major Municipalities

Mayor Francis Suarez City of Miami, FL

Mayor Sylvester Turner City of Houston, TX

Mayor Justin Elicker City of New Haven, CT

A Conversation: Policy Influencers & Academics

Ingrid Gould Ellen Paulette Goddard Professor of Urban Policy & Planning, Faculty Director, NYU Furman Center for Real Estate & Urban Policy

Emily Cadik Executive Director, Affordable Housing Tax Credit Coalition (AHTCC)

Jenny Schuetz Senior Fellow, Brookings Metropolitan Policy Program

Neil McCullagh Executive Director, Corcoran Center for Real Estate & Urban Action, Boston College

A Conversation: State Housing Agency Partners

J. Michael Hawkins Managing Director, Community Outreach for Virginia Housing (VH)

Marisa Button Director of Multifamily Programs for Florida Housing Finance Corporation

Nandini Natarajan Chief Executive Officer, Connecticut Housing Finance Authority

Chrystal Kornegay Executive Director, MassHousing

A Decade of Rental Housing Vulnerability: Lessons from Financial Crisis to Coronavirus 7

2020 Symposium: Richard F. Burns, President & CEO, NHPF

Welcome to the 4th Annual NHP Foundation Symposium, Growing Up & Out of Poverty: Why Housing Matters, examining the intersection between affordable housing, academic success, and opportunities for social mobility. 2020 has been a challenging year for all of us. The impact of the pandemic has reached every corner of our industry. Yet while everything else in our world seems to be changing, the root causes of poverty in this country remain very much the same, only heightened to a vertiginous degree. This year’s Symposium critically examines two factors which, when combined, create economic and social prosperity: improved access to education and safe, affordable housing. This undertaking became more important as the pandemic and other national woes upended the lives of society’s most vulnerable, leading us to align with Enterprise Community Partners to conduct an in-depth survey of educators in order

to determine the key factors young people need to succeed academically, socially and economically.

The survey results presented here today will serve as the foundation for “A Conversation,” an in-depth dialog featuring inspiring stories from individuals who themselves have grown up and out of poverty. Our goal is that this conversation will inspire more dialog about how the affordable housing ecosystem can support others. We are grateful to this year’s speakers, including our keynote, Matthew Desmond. This dynamic group will offer attendees meaningful takeaways for how to meet the challenges of a nation in need of housing that people can afford. We are also grateful to our sponsors and attendees. In this most difficult of years, you have chosen to embrace NHPF’s mission of providing pathways that residents can follow up and out of poverty. We hope you will join us as we continue to foster strong relationships essential to the success of our valuable work.We hope you will enjoy our program and come away invigorated for the work ahead.

8 Growing Up & Out of Poverty: Why Housing Matters

The NHP Foundation 2020 Symposium Corporate Sponsors

Growing Up & Out of Poverty: Why Housing Matters 9

The NHP Foundation 2020 Symposium Growing Up & Out of Poverty: Why Housing Matters

Symposium Co-Chairs

Sheldon L. Schreiberg NHPF Trustee, Senior Counsel, Lobel Novins & Lamont, LLP

Cherie Santos-Wuest NHPF Trustee, Managing Partner Celadon Venture Advisors, Former Director Global Social & Community Investing TIAA-CREF

Robert H. Abrams Trustee; Director & Founder, Program in Real Estate (retired), Cornell University; Founder & Former President, Abrams Benisch Riker, Inc.

Congressional Awards 2020 NHPF Affordable Housing Trailblazer Award Honorees

Industry Award 2020 NHPF Affordable Housing Leader Award Honoree

Dr. Maya Rockeymoore Cummings Accepting Award

Senator Todd Young (R-IN)

Senator Ron Wyden (D-OR)

Representative Elijah Cumming (D-MD) Posthumously

Keynote Speaker

Matthew Desmond Professor of Sociology, Princeton University

10 Growing Up & Out of Poverty: Why Housing Matters

The NHP Foundation 2020 Symposium Growing Up & Out of Poverty: Why Housing Matters

Presentation Aligning Housing & Education Outcomes

A Conversation Speakers

Mary E. Badillo, MD Assistant Professor of Emergency Medicine, Montifiore Medical Center

Andy Masters Strategic Partnership Manager, Knowledge, Impact & Strategy, Enterprise Community Partners

Derek Anderson NBA Pro Founder, Stamina Academy

Wes Moore CEO, The Robin Hood Foundation

Liz Murray Inspirational Speaker and Author

Growing Up & Out of Poverty: Why Housing Matters 11

Affordable Housing Investment: Impactful Returns Realized

Wednesday, October 16, Union Station, Washington, DC, 4:00–9:30 pm

2019 Symposium: Richard F. Burns, President & CEO, NHPF Welcome to the 3rd Annual NHP Foundation Symposium & Dinner, Affordable Housing Investment: Impactful Returns Realized, and a celebration of our 30th anniversary. The past three decades the vast majority of affordable housing has been made possible by the highly successful LIHTC tool created by Congress. This remarkable, bi-partisan, legislation benefits everyone in the equation—renters, developers, and investors. NHPF’s success for the last 30 years is owed to early institutional investors who saw the potential of this asset class to produce worthy returns, both financially and socially. Those initial investments from pioneering companies such as Aetna, John Hancock, Northwestern, and PNC created the original capital that NHPF has leveraged into today’s successful 51-property portfolio across 15 states and the District of Columbia. Those early stakeholders set the stage for future corporate investors. Participating corporations would invest in affordable housing, going on to receive returns on capital derived from federal tax credits, offsetting federal income tax liability. Since that time many traditional funders have successfully entered the affordable housing market, including a variety of private equity and private debt funds. However the need remains great. At a time when traditional investments like pension plans have fallen short of their projected returns, we are calling for a new generation of institutional investors to take up the challenge. Using impact investing or ESG criteria to better determine the future financial performance of affordable housing investment (return and risk) as well as our own positive data on affordable housing ROI, we are determined to show institutional investors the upsides of including this stable asset class in their portfolios. The concept led us to partner with Kingsley Associates, a real estate research industry leader. The firm conducted dozens of in-depth personal, confidential interviews with fund managers to gauge their current perceptions of investing in affordable housing as well as some recommendations for the industry. The results of the study, presented here today, serve as the springboard for the thought-provoking panel, led by Jonathan Schein of IREI, publishers of the real estate industry’s most respected publications, tackling the ongoing need to provide millions of Americans with quality, service-enriched affordable housing. We are grateful to this year’s Symposium and Dinner speakers and panelists. This dynamic collective provides attendees access to the latest industry strategies and innovative ideas, advanced through a discussion designed to create real momentum toward meeting the challenges of a nation without enough housing that people can afford. We are also grateful to our sponsors and investors during this, our 30th year. And as we move forward, we look to build on the sold financial foundation set by those early investors. We hope you will join us as we continue to foster strong relationships, which are essential to the success of our foundation’s valuable work. We truly appreciate your support!

12 Affordable Housing Investment: Impactful Returns Realized

The NHP Foundation 2019 Symposium Corporate Sponsors

Affordable Housing Investment: Impactful Returns Realized 13

The NHP Foundation 2019 Symposium Affordable Housing Investment: Impactful Returns Realized

Symposium Co-Chairs

Frank L. Sullivan, Jr. Co-Founder (retired), Clarion Partners

Robert H. Abrams Trustee; Director & Founder, Program in Real Estate (retired), Cornell University; Founder & Former President, Abrams Benisch Riker, Inc.

Glynna K. Christian Co-Head of Global Technology Transactions, Orrick, Herrington & Sutcliffe LLP

Affordable Housing Leader Award Honoree

Congressional Awards 2019 NHPF Affordable Housing Trailblazer Award Honorees

Industry Awards

10 Year Anniversary Honoree

Jonathan F.P. Rose President Jonathan Rose Companies

Speaker Nancy Pelosi (D-CA)

Senator Tim Scott (R-SC)

Richard Burns President & CEO The NHP Foundation

14 Affordable Housing Investment: Impactful Returns Realized

The NHP Foundation 2019 Symposium Affordable Housing Investment: Impactful Returns Realized

Presentation Based on Study Findings

Panel Discussion Speakers

Andy McMahon Vice President, Policy Health & Human Services, United Health Care

Cherie Santos-Wuest NHPF Trustee and Managing Partner, Celadon Venture Partners

John Falco Principal, Kingsley Associates

Panel Moderator

Reuben Teague Vice President, Impact Investments, Prudential Investment

Allison Turner Yager Partner, Mercer Consulting

Jonathan Schein Global Head of Business Development & Senior Vice President of Institutional Real Estate, Inc. (IREI)

David Wood Director of the Initiative for

Responsible Investment at the Hauser Center for Nonprofit Organizations, Harvard Kennedy School

Affordable Housing Investment: Impactful Returns Realized 15

Housing & Health: The Backbone of Strong Communities Tuesday, October 16, Union Station, Washington, DC, 4:00–9:30 pm

2018 Symposium: Richard F. Burns, President & CEO, NHPF Last year’s inaugural NHPF Symposium & Dinner explored the “Pay for Success” model to fund affordable housing. We brought together industry leaders, academics and lawmakers to exchange ideas, celebrate achievements and look for creative strategies to continue our mission of providing quality, service-enriched housing for low to middle income Americans. The event was followed by a year of federal tax code reform, partisan bickering, and a shakeup of the healthcare landscape. The impact has resonated across public and private sectors, sparking a desire within our organization to bring great minds together once again to educate, engage, and design the future of our industry. This year’s Symposium & Dinner, Housing & Health: The Backbone of Strong Communities, examines the burgeoning intersection of housing and health. We’re looking to break down silos between different industries by inviting key healthcare representatives, investors, affordable housing developers, policymakers and social service providers to join us in realizing our goal of an affordable housing paradigm shift. This reboot will result from an empirical, beta-tested link between people living in safe, stable, affordable housing, and improved health outcomes. We will discuss a variety of ideas and strategies, including a new funding model for privatized housing vouchers. The goal is better lives for residents and sound investments for funders. We are extremely pleased that this year’s event has been met with such a tremendous response. We are grateful for our 70 sponsors and over 300 attendees. Thank you. Your support is especially important as The NHP Foundation embarks on its 30th year preserving and creating affordable housing for economically challenged Americans. While 2019 promises to be a year of opportunities and challenges, NHPF will continue its mission to provide residents with housing that is “more than a roof,” borne of dynamic new ideas and collaborative efforts. In closing, I’d like to say that the relationships which The NHP Foundation nurtures are among our greatest assets, and our accomplishments are your accomplishments. We look forward to your continued support and guidance. Please enjoy this evening’s program and accept our utmost appreciation for being here with us.

16 Housing & Health: The Backbone of Strong Communities

The NHP Foundation 2018 Symposium Corporate Sponsors

Housing & Health: The Backbone of Strong Communities 17

The NHP Foundation 2018 Symposium Housing & Health: The Backbone of Strong Communities

Symposium Co-Chairs

Ellis B. Carr President & CEO, Capital Impact Partners

Cherie Santos-Wuest NHPF Trustee, Managing Partner Celadon Venture Advisors, Former Director Global Social & Community Investing TIAA-CREF

Sheldon L. Schreiberg NHPF Trustee, Senior Counsel, Lobel Novins & Lamont, LLP

Congressional Award Honorees 2018 NHPF Affordable Housing Trailblazer Award

Senator Susan Collins (R-ME)

Representative Carlos Curbelo (R-FL)

Representative Suzan DelBene (D-WA)

Representative Jim Himes (D-CT)

Industry Award Honorees Affordable Housing Advocacy Award

Affordable Housing Advocacy Award

Affordable Housing Visionary Award

Affordable Housing Visionary Award

Thom Amdur Executive Director, National Housing & Rehabilitation Association

Monica Mitchell Wells Fargo

Michael Novogradac CPA, Novogradac & Company LLP

Maria Torres-Springer The Ford Foundation

18 Housing & Health: The Backbone of Strong Communities

The NHP Foundation 2018 Symposium Housing & Health: The Backbone of Strong Communities

Presentation Housing & Health: The Backbone of Strong Communities

Industry Award Honorees Affordable Housing Pioneer Award

Affordable Housing Leader Award

Ryan Moser Vice President, Strategy & Impact, CSH (Corporation for Supportive Housing)

Michael Bodaken National Housing Trust (1993–2018)

Henry Cisneros Housing and Urban Development (HUD) (1993–1997), Siebert Cisneros Shank & Co., LLC, City View

Panel Moderator

Panel Discussion: Speakers

Daniel J. Field Executive Director,

Stephen Brown Director of Preventive Emergency Medicine, University of Illinois Hospital

Joshua Bamberger Associate Clinical Professor, Family & Community Medicine, UCSF

Jason Helgerson Medicaid Director State of New York (January 2011–April 2018), Consultant, and Social Change Agent

Community Health & External Affairs, Kaiser Permanente

Dr. Tiffany Manuel Vice President, Knowledge, Impact, & Strategy, Enterprise Community Partners, Inc.

Jonathan F. P. Rose Real Estate Developer, Urban Planner, Author, Founder of Jonathan Rose Companies

Kamillah Wood, MD, MPH, FAAP Senior Vice President, Health & Housing, SAHF (Stewards of Affordable Housing for the Future)

Maria Torres-Springer Commissioner, NYC Department of Housing Preservation & Development

Housing & Health: The Backbone of Strong Communities 19

Pay for Success and Affordable Housing An Afternoon of Learning, An Evening of Recognition

Tuesday, October 17, Union Station, Washington, DC, 4:00–8:30 pm

2017 Symposium: Richard F. Burns, President & CEO, NHPF THE NHP Foundation is proud to be hosting it’s first-ever Symposium and Dinner and I’m so pleased to welcome all of our esteemed dignitaries, guests and sponsors to what we hope will be an annual event. It’s heartening to see such tremendous industry support. We are overwhelmed by the outpouring from over 66 sponsors and all of you attending.

The NHP Foundation’s sole purpose is to preserve and create affordable housing for economically challenged Americans. This year’s natural disasters

have added a sad exclamation point to our already dire need for more housing. But what we are doing with today’s Symposium and tonight’s Dinner offers concrete proof that NHPF will be there to provide generations to come with housing that is “more than a roof.” When I started with NHPF eight years ago, we had 15 properties in 14 states and the District of Columbia. Today, we have 43 properties in 15 states and the District of Columbia, housing over 20,000 residents, families and seniors with quality, service enriched housing they can proudly live and thrive in. We didn’t get here alone, though. Through a combination of individuals and companies who care, we have built a network of strong communities that enrich our residents’ lives and open the door to brighter futures. With brighter futures in mind, we’re continuously transforming the way we operate to improve our ability to acquire new properties, renovate them at reasonable cost and create new homes for renters across the country. Our employees and partners have continued to meet and exceed the challenges of today’s property market and we are excited about where we are headed. As industry leaders, each of you has the vision, the knowledge, the compassion and the experience to help us construct a blueprint for a successful future. In closing, I’d like to say that all of you are truly our greatest asset today and tomorrow, and we could not accomplish what we do without your support and guidance! Throughout this event, we ask that you remember how much we value what you do and how it enables what we do.

20 Pay for Success and Affordable Housing

The NHP Foundation 2017 Symposium Corporate Sponsors

Pay for Success and Affordable Housing 21

The NHP Foundation 2017 Symposium Pay for Success and Affordable Housing

Symposium Co-Chairs

Ralph F. Boyd, Jr. NHPF Trustee, Chair; President & Chief Executive Officer, SOME (So Others Might Eat)

Thomas A. Carr Managing Partner of Federal Capital Partners

Patricia Diaz Dennis Vice President & Assistant General Counsel, AT&T (retired)

Congressional Awards 2018 NHPF Affordable Housing Trailblazer Award Honorees

Industry Awards Affordable Housing Advocacy Award Honoree

Affordable Housing Visionary Award Honoree

Todd J. Crow Executive Vice President & Manager, Tax Credit Capital, PNC Real Estate

Senator Maria Cantwell (D-WA)

Senator Orrin Hatch (R-UT)

Emily Cadik Executive Director, Affordable Housing Tax Credit Coalition (AHTCC)

22 Pay for Success and Affordable Housing

The NHP Foundation 2017 Symposium Pay for Success and Affordable Housing

Academic Study Pay for Success and Affordable Housing

Panel Discussion Affordable Housing: Shaping the Future Today Speakers

Maya Brennan Research Associate, Urban Institute

Emily Cadik Executive Director, Affordable Housing Tax Credit Coalition (AHTCC)

Thom Amdur Executive Director, National Housing & Rehabilitation Association

Stephen M. Green COO/CIO, The NHP Foundation

Stefano Rumi Senior Research Fellow, Pay for Success Lab, University of Virginia

Panel Moderator

Andrew M. Grumet Partner, Drinker Biddle

Mark Ragsdale Senior Vice President, PNC Bank

Michael Novogradac CPA, Novogradac & Company LLP

Michele Lerner Real estate/personal finance writer; contributor to the Washington Post

Pay for Success and Affordable Housing 23

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