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From YouTube: Community Recovery Task Force, Housing - June 11, 2020
Description
You are watching the Charlotte City Council Community Recovery Task Force Committee Meeting (Housing) from Thursday, June 11th. Thanks for watching.
A
Good
afternoon
my
name
is
Malcolm
Graham,
a
member
of
the
Charlotte
City
Council
and
the
coordinator
for
the
City
of
Charlotte
housing,
community
recovery
task
force
and
I'd
like
to
welcome
each
and
every
one
of
you
to
our
June
11th
meeting.
This
meeting
is
being
live-streamed
from
the
Charlotte
Mecklenburg
Government
Center,
and
we
are
here
to
work
with
our
community
in
terms
of
objectives
relating
to
kovat
19.
A
Our
objectives
are
as
follows:
to
plan
and
anticipate
Charlotte's
growth,
post
recovery
challenges,
given
the
economic
certainties
of
our
city's
future
related
to
kovat
19,
to
listen
to
the
community
regarding
the
challenges
people
are
facing,
as
they
navigate
a
changing
work
and
living
environment,
to
develop
recommendations
for
how
the
City
of
Charlotte
specifically
said.
The
government
can
pivot
to
support
changes
needed
as
a
result
of
kovat
19
and
to
provide
residents
with
a
long-term
vision
for
a
healthy
and
stable
economic
and
civic
environment.
A
So
we
have
a
packed
agenda
today,
I
like
to
take
this
opportunity
to
allow
the
members
of
the
task
force
to
introduce
themselves.
We
do
have
two
special
guests,
rocky
and
Carl
well
with
list
and
that
Martin
with
the
Federal
Reserve
Bank,
you
should
have
their
files
and
your
pre
read
for
your
review
and
consideration
as
they
come
before
us,
and
so
with
that
I
will
again
start
the
introduction
of
our
task
force.
Members
again,
my
name
is
Malcolm
Graham,
remember
the
Charlotte
City
Council
District,
two
and
coordinator
of
the
task
force
I'm,
not
special.
H
A
I
A
Well,
thank
you
everyone
for
being
here
today
or
to
thank
the
viewing
public
for
joining
us
once
again.
Just
one
housekeeping
matter,
I
had
a
great
meeting
this
morning
with
our
city
manager.
Regarding
the
recommendations
that
our
first
task
force
leads
presented
to
us
last
week.
We
are
currently
reviewing
those
recommendations
and
getting
ready
to
hoard
them
to
the
Charlotte
City
Council
for
consideration.
So
I
just
want
to
make
sure
that
the
task
force
members
know
that
the
work
is
being
processed
and
I'll.
A
Give
you
an
update
in
terms
of
how
those
deliberations
in
terms
of
how
we
process
it
through
the
the
council
is
going
and
for
your
infinite
the
appropriate
time.
So
the
agenda
is
right
in
front
of
us.
We
will
get
right
to
it
today.
We're
working
on
our
work
plan
task
2,
which
is
financial
assistance,
that's
being
led
by
Kathy
to
Rhonda
and
Connie,
and
so
Kathy
I
will
turn
it
over
to
you
for
how
we
will
proceed
as
we
move
forward
this
afternoon.
Kathy
welcome.
E
Thank
You
mr.
Grandin
is
Weidman
for
your
leadership,
so
our
financial
assistance
workgroup
has
been
exploring
how
to
assist
our
most
vulnerable
population
in
Charlotte,
ensure
that
we
continue
the
mission
of
economic
mobility.
People
have
been
working
too
hard
or
too
long
to
have
their
hard
work
wiped
out
in
a
few
months.
We
feel
the
near-term
needs
are
in
the
rental
assistance
space,
with
the
continued
hardship
in
the
longer
term
for
mortgage
holders,
part
of
the
content
in
your
briefing
materials
conveys
the
rapid
response
and
protection
under
the
cares.
E
Act
for
both
mortgages
and
renters
mortgage
servicers
have
made
it
easy
to
request
mortgage
assistance
to
those
experiencing
hardship
via
online
solution.
We
feel
there's
also
a
need
to
convey
to
residents
how
they
find
out
what
protections
may
apply
to
them
under
the
cares
Act
provision
based
upon
their
landlord
receiving
mortgage
furro.
E
We
feel
that
there's
a
population
in
Charlotte
who
may
have
not
may
not
have
a
mortgage
and
therefore
not
able
to
take
advantage
of
the
mortgage
mortgage
deferral
program,
yet
own
property
inherited
or
otherwise
acquired
where
they
are
using
the
home,
is
rental
property
as
a
source
of
income.
We've
committed
to
return
to
the
council
on
June
18th
with
recommendation.
E
E
She
will
explain
how
the
53
million
and
private
sector
funds
the
arts
have
been
raised,
but
the
funds
can
be
used
for
and
the
repayment
obligation
under
the
terms
of
the
agreement
so
who
bio
is
contained
in
your
briefing
materials
where
you
can
see
her
deep
commitment
to
affordable
housing
in
Charlotte
I
can
personally
attest
to
that.
So
thank
you.
Ralphy
for
joining
us
today.
We're
looking
forward
to
your
presentation.
K
Good
afternoon,
everyone
first
of
all
thank
you
to
council
member,
graham,
as
well
as
the
other
council,
and
to
the
staff,
as
well
as
to
this
recovery
group.
I
appreciate
you
allowing
me
to
present
to
you
today
the
Charlotte
Housing
Opportunity
investment
fund
and
our
steps
forward,
as
we
are
going
through
this
trying
time.
K
I
hope
everyone,
as
well
with
their
families
and
I,
hope
that,
as
we
continue
to
come
together
as
a
city
that
we
continue
to
think
about
our
housing
and
how
our
what
we're
doing
now
affects
us
down
the
road
and
it
affects
everyone
that
lives
here.
So
if
we
can
go
to
the
next
slide
money.
For
me,
the
Charlotte
Housing
Opportunity
investment
fund,
just
as
Cathy
said,
is
a
fifty
three
million
dollar
fund
that
was
raised
on
foundation
for
the
Carolinas
of
which
list
is
the
actual
fund
manager.
K
K
The
choke
is
an
actual
fund
that
does
have
to
be
paid
back,
but
it's
also
a
fun
which
is
close,
which
means
that
there
are
certain
parameters
that
the
investors
have
in
regards
to
those
monies
that
in
which
the
way
that
the
monies
must
be
used,
and
in
this
case
for
the
choke,
it
should
be
used
for
mixed
income,
multi-family
housing.
We
completed
the
first
round
of
the
choke
last
year.
Some
of
you
may
recall
that
that
was
started
last
April
and
we
finished
that
round
the
end
of
last
year.
K
During
that
round,
we
committed
ten
point:
six
million
dollars
to
that
round,
which
resulted
in
five
hundred
and
thirty-one
units
that
were
funded
under
round
one.
That
was
our
first
year
from
that
first
year.
Obviously,
those
particularly
developers
were
working
with
we've
had
some
closings
to
that
and
close
others
that
are
due
to
close
here
shortly
and
just
being
able
to
work
with
them
and
also
listen
to
them.
K
For
recap
of
how
the
process
works.
First
of
all,
this
is
a
partnership,
so
we
want
to
make
sure
you
know
when
we
started
this
last
year,
the
process
was
a
little
different
and
that,
first
of
all,
we
were
starting
and
putting
together
a
fund
of
12
investors
and
trying
to
make
sure
that
we
were
being
inclusive
of
all
of
the
making
sure
that
we
were
taking
care
of
all
of
the
developers,
but
also
making
sure
that
we
had
a
closed
fund
to
be
able
to
offer
financing
to
our
developers.
K
This
year,
we've
changed
up
a
little
bit
the
actual
review
process,
but
I
think
the
one
thing
that
I
want
to
emphasize
to
this-
and
the
council
has
seen
this
slide
many
times-
is
that
it
is
a
partnership.
So
when
we
released
the
RFP
that
RFP
is
released
jointly
between
lists
as
well
as
the
City
of
Charlotte,
the
RFP
does
contain
on
specific
guidelines
that
you
must
follow
in
regards
to
both
receiving
Housing
Trust
Fund
dollars,
as
well
as
receiving
the
chav
funding.
K
We
actually
look
at
the
developments
and
to
see
how
they
actually
rank
in
regards
to
our
funding.
The
initial
IAC
and
city
council
notification.
I
do
want
to
make
sure
that
you
are
aware
that
the
IC
stands
for
investment
advisory
committee.
So
at
the
same
time
that
you
that
miss
Wildmon
is
notifying
the
council,
I
am
actually
notifying
the
IAC
and
I
see
are
all
the
investors
of
the
Chow
who
I
make
aware
of
what
is
happening
in
regards
to
the
developments
that
we
want
to
fund
and
move
forward.
K
And
then
you
have
the
City
Council
briefing,
which
is
where
miss
wad
Minh
actually
notifies
the
public
of
all
of
the
deals
that
are
presented
and
the
ones
that
actually
we
want
to
recommend
to
be
funded.
And
then
thereafter
there
is
City
Council
action
which
around
about
that
same
time,
which
this
year
it
was
about.
Two
or
three
days
after
that
we
have
the
IC
briefing,
which
is
where
the
investors
are
made
aware
of
the
deals
that
we
want
funded
for
the
next
round.
K
Next
slide,
one
this
particular
slide.
I
wanted
to
make
sure
that
you
are
aware
of
the
of
the
Chhath
deals
for
round
1
and
round
2.
This
particular
slide
outlines
that,
and
basically
what
you
have
is
for
the
first
round
1
and
round
2
with
we
have
recommended
14.6
million
of
CHO
funding
to
date
in
that
14
point.
In
that
fourteen
point
six
we
have.
Of
course
there
is
one
particular
deal.
Windsor
Park,
which
I
do
want
to
point
out,
is
600,000.
That
particular
600,000
is
not
a
part
of
the
choke.
That
is
a
grant.
K
That
list
gave
to
that
particular
developer.
To
be
able
to
assist
them
with
an
in
actual
is
inoa,
because
that
was
one
of
the
things
that
we
wanted
to
do
in
this
round
was
to
try
to
do
more
know
as
and
assist
the
city
in
their
no
efforts,
so
who
were
able
to
get
a
grant
and
release
that
grant
to
that
particular
developer
in
the
amount
of
six
hundred
thousand
that
actually
reduced
the
Housing
Trust
Fund
asks
for
that
particular
deal.
We
are
excited
about.
K
The
actual
unit
mix
of
the
952
units
that
you
see
that
you
see
on
the
previous
slide
I
just
wanted
to
point
out
the
actual
ami
percentages
on
22%
is
that
30%
AMI
and
you
can
see
basically
the
breakdown
here.
Obviously
there's
similar
to
the
C.
Our
focus
is
on
mixed
mixed
income,
and
but
it's
also
on
making
sure
that
we
are
presenting
a
significant
amount
at
minimum
of
20%
of
am
30%
ami
units
in
all
of
the
developments.
K
How
did
we
move
forward
as
we
are
coming
out
of?
You,
know
we're
still
close,
Kovan
and
and
still
within
a
pandemic,
and
as
we
move
out,
how
are
we
gonna
move
forward
with
our
housing
efforts?
One
is
we're.
Gonna,
obviously
continue
to
act
as
a
partner
to
the
city,
as
well
as
all
of
the
city's
housing
initiatives.
K
There's
some
great
miss
Robin
has
already
discussed
some
great
things
that
the
city
is
doing
we're
looking
at
how
we
can
bring
in
and
be
added
value
to
the
things
that
the
city
is
already
doing
as
a
partner.
We're
going
to
continue
to
watch
on
on
the
market
on
the
market
is
changing.
Labor
costs
on
construction
costs
are
going
up.
This
committee
has
already
discussed
a
lot
of
that,
particularly
in
your
in
your
recommendations
this
past.
On
the
last
meeting.
You
know
that
we
have
to
definitely
watch
the
market.
K
It
is
a
little
early
to
tell
now,
but
we
do
have
to
watch
the
market,
but
the
one
thing
I
will
say
is
that
we
will
work
with
developers
to
make
sure
that
their
deals
get
done.
So
we
did
reach
out
to
all
of
our
developers
just
to
touch
base
and
see
how
the
deals
are
doing
from
a
finance
standpoint
and
if
the
developers
did
need
to
come
back
to
the
choice,
obviously
we're
going
to.
K
We
can
have
that
conversation,
but
we
definitely
want
to
make
sure
that
we're
taking
care
of
the
developers
and
that
the
deals
that
have
been
presented
and
approved
I'll
continue
to
move
forward.
Also,
what
we're
gonna
do
is,
we
will
fund
know
us.
We
want
there
to
be
more
emphasis
on
we,
as
in
the
Chowk,
want
more
emphasis
to
be
placed,
don't
know
us,
so
we
will
fund
noise
outside
of
the
normal
RFP
round.
K
So
if
a
developer
were
to
approach
us
and
have
a
Noah
that
we
feel
like
it's
the
parameters
of
the
choke-
and
it
was
a
good,
it
would
be
a
good
for
us
to
be
able
to
fun.
We
will
do
that
and
we
want
to
be
sure
that
and
I
understand
that
that
is
something
that
has
also
been
discussed,
and
we
are
definitely
in
agreement
with
that,
and
we
will
continue
that.
The
other
is
the
single-family
acquisition
single
family
acquisition
rehab.
We
are
working
on
that
program
right
now.
K
That
is
a
pilot
program
that
has
been
introduced
by
the
city.
We
are
a
partner
with
that.
We
do
want
to
continue
that
that
particular
program
as
well
as
seeing
if
we
can
establish-
and
that
is
one
of
the
things
a
list-
is
working
on
right
now
with
our
national
partners
trying
to
see
if
we
can
establish
some
type
of
single
family
housing
fund.
One
of
the
things
as
we
continue
to
talk
about
economic
mobility
in
Charlotte
we
have
to.
K
We
have
to
make
sure
that
we
are
not
just
talking
about
multifamily
rental,
but
that
we're
also
talking
about
home
ownership,
because
home
ownership
is
still
gonna,
be
the
way
that
our
people
will
gain
wealth
and
will
continue
to
move
forward.
So
we
don't
want
that
to
be
left
out,
so
we
will
be
making
a
bigger
push
in
this
next
year
for
home
ownership.
How
does
that
look?
I,
don't
know
yet
I'll
be
honest
with
you.
We
want
to
continue
with
the
single-family
acquisition,
rehab
and
then
see.
K
K
Obviously
everyone
had
reaction,
but
on
the
reaction
mode,
one
of
which
was
just
obviously
making
sure
that
we
take
care
of
our
own
people
and
taking
care
of
our
staff,
but
also
we
had
a
huge
push
for
reaching
out
to
our
neighborhood
partners,
particularly
our
partners
that
have
received
funding
from
lists
to
make
sure
that
they're,
okay,
but
also
that
they
know
that
all
the
resources
that
are
available
to
them
lift
is
a
CDFI.
So
we
are
continuing
to
lend,
because
we
think
now
is
the
time
that
we
have
more.
K
We
need
to
make
sure
that
we
are
there
for
our
businesses
and
then
we
are
going
to
support
small
businesses,
because
we
are
currently
overseeing
the
City
of
Charlotte
CDBG
small
business
program.
We
have
some
other
programs,
other
small
business
programs
that
we've
been
doing
already,
and
we
hope
that
to
continue
that
between
our
boroughs
and
sounds
there
have
been
in
our
protective
protection
program.
We've
expended
thus
far
about
seven
hundred
thousand
four
bit
small
businesses
in
Charlotte
alone.
K
We
want
to
continue
that
and
we
have
a
lot
more
businesses
that
are
in
our
pipe
for
the
payment
protection
program.
Our
focus
on
the
PPP
has
been
the
actual
organizations,
the
small
businesses
that
did
not
get
assistance.
In
the
very
beginning,
our
emphasis
is
Minori
women-owned
businesses,
as
well
as
veteran
owned
businesses.
K
And,
last
but
not
least,
you
know
I
wanted
to
talk
a
little
bit
about
our
stance
on
racial
equity
and
justice
and
everything
that
has
happened
here
in
Charlotte
and
across
the
country.
You
know
I
I
started
when
I
started
with
the
slide.
I
was
gonna.
Put
you
know,
we're
gonna
do
this
this,
and
this
and
and
I
have
not
released
a
statement
from
Liz
Charlotte.
K
Our
national
president
has
released
our
statement,
but
I
have
not
released
one
here
for
a
lot
of
reasons,
one
of
which
is
I
didn't
want
my
statement
to
be
the
same
old
I
wanted
it
to
be
where
it
was
more
actionable
that
we
can
be
held
accountable
for
ourselves,
and
my
staff
can
be
accountable
for
ourselves
here
in
Charlotte
and
what
we
can
do.
What
I
will
say
to
you
is
that,
from
a
list
standpoint
we
stand
by
the
protesters.
K
K
It
is
also
about
changing
a
mindset
of
how
people
think
and
how
people
think
of
each
other,
and
it's
also
about
making
sure
that
we
look
at
the
economic
opportunity
and
making
sure
that
in
the
coming
months
on
this
we'll
be
making
a
push
for
things
such
as
minority
entrepreneurship
and
affordable
housing
and
the
things
that
we
know
that
are
important
in
order
to
see
our
people
move
and
get
ahead
so
I.
We
will
continue
that
fight.
K
We
are
in
for
that
fight,
but
we're
also
here
because
we
know
that
people
are
uncomfortable
about
talking
about
race
and
we
need
to
get
out
of
that
and
you'll
hear
that
probably
loudly
from
me
as
we
continue
in
the
in
the
coming
months.
There
are
some
great
organizations
that
we
can
take
part
in
and
that
we
plan
to
take
part
in
so
that
we
can
get
people
a
little
bit
more.
K
A
H
Thanks
councilman
Graham,
thanks
ralphing
for
the
work
you're
doing
for
your
advocacy
and
and
I
very
much
appreciate
what
your
thoughts
are,
that
you
share
with
us
about
situation
that
we're
facing
I've
got
a
couple
of
questions.
First,
the
you
mentioned
that
this
fund
is
a
clothes
line,
kind
of
understand
what
that
means.
K
H
H
H
K
Fund
itself
will
expire
in
2038
I,
believe
it's
a
20-year
fund.
So
when
the
fund
Express
the
fund
expires,
however,
it
is
our
goal.
Obviously,
is
that,
but
prior
to
that
happening
is
that
we
would
still
talk
with
the
same
investors.
And/Or
have
new
investors
that
we
can
bring
forward
on
the
fund
and
I.
Think
that's.
What's
that's
what's
interesting
about
you
know,
this
gun
has
a
certain
it's
it's
12
investors
right
now,
as
we
move
forward,
particularly
as
Charlotte
the
market
is
changing.
H
K
When
you
send
the
loan
rate
to
the
developer,
yes,
okay,
basically
every
deal
is
different.
To
be
honest
with
you,
we
quoted
in
the
RFP,
we
quoted
a
rate
up
to
and
that's
kind
of
how
we
told
developers.
This
is
how
you
structure
your
deal,
however,
particularly
some
of
the
developers
that
are
on
this
committee
know
we
work
with
the
developer
and
every
deal
is
different.
So
I'll
be
honest
with
you,
this
one
is
not
just
about
the
rate.
It
is
about
other
things.
K
As
you
know,
it's
about
other
things
that
the
developer
may
need
for
their
particular
deal
for
us
to
work
out
that
you
know
we're
able
to
work
it
out
that
way,
so
it
just
depends
on
every
single
deal.
I
won't
tell
you
that,
but
we'll
give
this
rate
on
this
one,
because
it
just
depends
on
the
deal
itself
understood.
H
K
I
would
say
well,
first
of
all
for
your
for
your
Noah's
wind
over
and
Windsor.
You
know,
but
the
units
are
already
on
the
ground.
So
then
there's
gonna
be
some
rehab
and
things
like
that,
but
for
the
others,
I
couldn't
tell
you
that
the
one
thing
in
the
and
the
developers
for
the
elders
are
actually
on
this
committee,
so
they
can,
they
can
speak
to
when
they
think
their
their
particular
deals
will
be
on
the
ground.
But
what
I
will
tell
you
isn't
as
a
and
just
basic
as
an
education
to
everyone?
K
Is
that
while
we
approve
these
deals
that
miss
Robin
and
I
and
her
team
and
my
team
get
together
and
we
approve
these
deals,
it
takes
you
know,
24
months
for
affordable
housing
to
hit
the
ground
and
I
know
that
people
want
it
to
move
faster.
But
a
lot
of
that
has
to
do
with
you
know
is,
is
what
is
the
timeline
for
tax
credits?
K
Was
the
timeline
for
getting
there's
a
lot
of
all
of
the
the
developers,
and
particularly
the
ones
that
are
on
this
committee,
worked
extremely
hard
to
get
those
to
the
table
and,
as
you
know,
that
and
and
it
takes
a
minute
to
be
able
to
get
everything
approved
because
there's
several
different
financing
options.
Typically,
you
have
made
three
four.
You
have
a
lot
of
different
things
that
have
to
come
together,
so
so
it
just
depends
on
the
development
itself
got.
F
Thank
You
councilmember
cram
and
the
rough
pain
good
to
see
you
I'm
very
interested
in
the
single
family
bond
I
think
that
that
is
something
that
we're
very
interested
in.
As
far
as
developing
new
single-family
homes
for
sale,
the
plus
is
such
a
need
for
that
right
now,
I
saw
a
statistic.
Recently
was
just
yesterday.
There
were
only
two
hundred
homes
on
the
market
for
less
than
$250,000
in
Charlotte.
That's
a
problem
with
the
fun
we
may
be
focused
on
reducing
construction
coughs
using
grant
funding.
F
K
Would
be
and
the
reason
that
we
want
to
structure
it
that
way
and
for
obvious
reasons
just
like
you
said,
we
already
know
that
we
have
some
great
programs.
The
city
has
a
great
you
know
downpayment
assistance
program
and
that's
great,
but
what
we
think
it
is
that
we
needed
something
more
on
the
front
end
with
the
developer,
to
reduce
those
costs
so
that
the
developer
would
be
able
to
build
a
quality
home
or
price
that
someone
could
afford
right.
K
So
that's
kind
of
how
we're
looking
at
it
it's
in
the
very
week
we've
been
talking
about
it
for
the
past
three
weeks,
to
be
honest
with
you
Fred,
so
I'm
hoping
and
you
know,
homeownership
is,
is
my
thing
we'll
be
able
to
get
some
things
moving
on
it.
It
is
a
very
key
thing
for
national.
So
that's
why
I
feel
really
good
about
it
here.
They
really
want
us
to
try
to
move
forward
with
this
and
try
to
figure
out
a
way
to
be
able
to
work
that
so
work.
It
out.
F
G
G
K
I
would
say
well,
first
of
all,
most
all
of
the
developments
that
you
see
that
are
listed
on
this
sheet
have
a
minimum
of
20-year
affordability,
some
30
because
of
the
tax
credits,
because
excuse
me
yes,
so
some
30,
because
we
want
to
maximize
it
as
much
as
we
can,
and
that
is
the
same
for
the
show.
So
we
want
to
try
to
keep
it
definitely
affordable,
but
because
of
the
fact
that
the
Chowk
has
a
20-year
expiration
technically
we
you
know,
we
tell
the
developer
like
hey,
you
know.
K
We
understand
that
we
have
a
20-year.
The
truth
will
expire
in
20
years.
So
therefore,
you
have
to
have
at
least
a
minimum
of
that
in
your
particular
development.
But
we
look
definitely
look
for
more
because
it
gives
it.
You
know
we
want
to
have
more
affordability
and
then,
in
regards
to
you,
have
you
had
a
question
about
the
opportunity
zones?
Yes,
we
are
a
lot
of
the
developments.
When
we
talk
to
a
lot
of
developers.
You
know
we
do
talk
to
them.
About
you
know
is,
is
your
particular
development
located
an
opportunity
zone?
K
We
want
that
to
be
the
case.
We
are
actually
you
know
when
we
go
to
actually
score
those
particular
developments.
We
look
at
whether
or
not
it
is
indeed
an
opportunity
zone,
and
then
we
go
from
there
and
I
believe
that
the
city
miss
Robins
team
kind
of
does.
You
know
basically
the
same
thing
when
it
comes
top
high
opportunity
areas
and
opportunities
off.
A
Okay,
well,
we
thank
you
for
your
presentation.
We
look
forward
to
continuing
working
with
you
on
a
wide
variety
of
issues:
affordable
housing,
small
business
lending
I
think
you
mentioned
that
you're
doing
more
than
one
thing
that
will
help
advance
our
community.
So
I
really
appreciate
the
work
and
the
cooperation
and
the
partnership
with
the
city.
A
E
You
and
thank
you
Ruffy
for
your
passion,
I,
just
love
your
passion,
many
things
about
me,
but
that's
one
of
them
of
course,
and
I
agree
that
the
racial
and
economic
inequality
must
stop
and
I.
Remember,
as
the
mother
of
black
children
ever
called
my
mother
in
law,
explaining
to
me
how
I
would
have
to
have
the
talk
with
my
children
and.
L
E
Shocking
and
heartbreaking
had
no
idea
what
that
meant
so,
first
for
healing
and
the
hearts
and
minds
of
our
nation.
So
now
I
would
like
to
introduce
Matt
Martin,
who
is
the
regional
executive
in
the
Charlotte
office
for
the
Federal
Reserve
Bank
of
Richmond
matt
is
an
economist
who
has
been
a
longtime
advocate
of
economic
mobility
and
participated
in
many
of
the
opportunity
task
force,
also
known
as
Bleeding
on
opportunity
initiative.
So
for
the
court
issues
within
the
city
of
charlotte
matt
wish.
E
M
You
I
appreciate
the
chance
to
talk
with
you
this
afternoon,
as
Kathy
indicated
I've
been
involved,
particularly
with
Housing
and
Economic
Opportunity
issues.
Most
of
the
time
I've
been
in
Charlotte
I
did
not
apologize.
Doral,
Fein
I
just
noticed
my
bio
and
it
doesn't
have
less
conveyor
a
board
member
on
it.
So
not
bad
that
one,
that's
a
that's
an
oversight.
So
there
were
several
questions
submitted
to
me
ahead
of
this
and
I
put
in
a
couple
of
pre
reads
so
I'm
gonna
reference,
those
and
a
couple
other
pieces
of
research
I'll.
M
M
Most
of
this
is
other
economists
on
staff,
with
the
Richmond
Federal
Reserve,
but
I'll
I'll
say
all
views
are
my
own
in
case
I
say
something
they
wouldn't
agree
with,
and
I'm
gonna
I'm
gonna
start
with
the
one
that
talks
about
financial
distress,
and
that
was
one
of
the
third
of
three
parts
that
a
couple
of
our
researchers
put
out.
I'm
gonna
go
through
through
these
at
a
high
level.
They
will
shed
light
on
the
questions
that
were
around.
M
How
is
Charlotte
gonna
respond
and
how
our
household
is
going
to
respond,
and
then,
during
the
Q&A
we
can.
We
can
tease
out
some
more
details,
so
this
series
was
looking
at
financial
distress
where
households
that
are
either
delinquent
filing
for
bankruptcy
or
defaulting
on
their
mortgages,
and
it's
tough.
It's
a
bit
of
a
thought
exercise
with
data
and
this
third
one
goes
through
an
exercise
that
measures
six
plausible
measures
for
the
likely
earning
losses.
M
We're
going
to
see
in
this
current
episode
and
then
figures
out
what
the
average
consumer
spending
drop
will
be
across
five
quintiles
of
financial
distress,
so
think
of
households
that
are
probably
not
in
distress
as
opposed
to
households
that
are,
but
by
zip
codes.
So
it's
looking
at
at
the
zip
code
level
and
not
surprisingly,
they
find
that
there's
they
expect
a
pretty
substantial
spending
drop
and,
moreover,
it's
going
to
be
deeply
unequal.
That's
the
term
they
use
across
these
different
levels
of
financial
distress
and
put
an
order
of
magnitude
around
it.
M
The
households
are
the
zip
codes
in
that
most
distress,
quintile
are
expected
to
see
income
drops
that
are
more
than
twice
I'm.
Sorry
spending
drops
more
than
twice
the
rate
of
what
the
less
stressed
zip
codes
will
see,
and
you
know
in
their
analysis,
they're
looking
at
something
like
an
average
three
and
change
percent
decline
in
consumption
and
spending,
and
maybe
in
the
current,
so
that
doesn't
sound
large.
But
to
put
that
into
context.
M
During
the
depths
of
the
Great
Recession,
we
saw
a
consumer
spending
real
consumer
spending
all
by
about
2.3
percent
right
now,
most
forecasters
are
expecting
consumer
spending
to
drop
between
6
and
8
percent
in
2020.
So
we're
looking
at
something
in
the
current
episode,
that's
going
to
be
a
much
steeper
decline
in
consumer
spending
than
we
saw
in
the
Great
Recession.
M
There
are
some
other
factors
that
will
mitigate
that
when
I
get
to
some
of
the
other
research,
but
I
think
that's
important
to
note
and
in
this
particular
piece
then
further
breaks
that
down
and
says
well,
is
this
decline
in
more
financially
distressed
areas
because
they
went
into
this
and
worse
shape,
or
is
it
because
of
the
job
and
income
loss
and
the
breakdown
6040
they
say
about?
40%
is
due
to
the
condition
of
those
households
and
their
zip
codes
going
going
into
this
episode
and
then
the
rest
is
due
to
the
loss
of
jobs.
M
For
the
least
distressed
and-
and
so
you
know,
economists
have
long
observed
that
spending
is
more
stable
than
income
and
obviously,
if
your
incomes
falling
more
than
you're
spending
you're
either
relying
on
previous
resources
or
you're
taking
on
debt
as
a
household
and
so
a
couple
of
other
data
sources,
they
shed
some
light
on
where,
where
do
the
spending
cuts
come
from?
We
know
that
in
an
aggregate
level,
when,
when
consumer
income
drops
durable,
goods
spending
tends
to
fall.
M
The
steepness
that
is,
people
put
off
purchasing
new
cars
appliances,
things
that
are
postponed
herbal
and
you
sort
of
make
do
with
what
you
have.
So,
there's
that
kind
of
spending
drop
substantially
non
durable
goods,
things
like
food,
clothing
and
household
items
as
the
next
category,
and
some
of
that
is
households
will
sort
of
buy
down
right,
though
they'll
change,
the
cheaper
food
items,
they'll
find
other
ways
to
spend
less
on
those
items,
third
periods
of
a
lower
income,
and
then
services
tend
to
hold
up
better,
and
that
includes
housing
services,
as
well
as
healthcare.
M
That
doesn't
mean
individual
households
as
I'll
talk
about
in
a
minute
aren't
going
to
be
troubled
if
they
have
a
health
event
that
leads
division
expenditures,
but
that's
sort
of
generally
how
households
respond
to
the
income
to
clients.
I'll
point
out
a
particular
data
source
that
that's
worth
your
time
and
I'll
be
happy
to
share
the
source
of
the
link.
Afterwards,
this
comes
from
the
board
of
governors
of
the
Federal
Reserve
System.
They
do
a
survey.
M
So
they
asked
the
question:
how
would
you
pay
or
actually
ask?
Would
you
pay
for
four
hundred
dollar
expense
with
cash
or
equivalent
payment,
and
in
this
survey
for
those
that
theater
lost
their
job
or
had
that
hours
reduced?
Only
46
percent
say
they
were
they
with
cash?
So
that
means
over
half
of
those
who
lost
jobs
or
so
hours
reduced
are
probably
paying
by
death
again
I,
don't
think.
That's
necessarily
surprising
the
dull
result,
but
I
think
that's
something
to
keep
in
mind
and
then
just
one
other
data
point.
M
Looking
back
at
since
we
had
some
stimulus,
Bureau
of
Labor
Statistics
did
some
analysis
around
a
May,
2008
stimulus
program.
I,
don't
know
if
they
would
call
that
it
was
a
smaller.
Smaller
dollar
amounts
that
woman
than
what
we
saw
this
time
around
hundred
dollars
for
individuals
and
$2,400
for
families,
it
was
a
much
smaller
amount,
but
what
they
found
is
that
across
income
levels,
the
response
to
using
how
that
got
used
was
about
the
same.
They
spent
about
30
percent
saved
about
16
percent
and
the
rest
is
used
to
pay
down
debt.
M
So
the
summary
across
all
that
is
distressed
areas
are
the
ones
most
affected,
they're
the
ones
that
are
having
the
largest
income
hits
that
are
also
going
into.
This,
obviously,
is
more
finance
distress,
they
have
a
more
significant
spending
response
and
then
there
are
a
couple
of
other
factors
that
come
into
play.
They
tend
to
be
those
who
are
less
able
to
take
time
off,
and
this
is
relevant.
This
is
relevant
for
episodes
of
having
the
virus.
They
are
less
likely
to
have
the
time
to
take
off
without
taking
a
further
income.
M
The
second
paper
I'm,
going
to
supplement
with
one
that
I
didn't
send
out
ahead
of
time
and
I-
forgive
me
for
that,
but
the
prep
time
was
kind
of
short,
so
I'm
going
to
put
these
two
together.
This
is
the
one
about
lasting
economic
scars,
and
this
will
speak
to
the
longer-term
outlook
question
that
was
asked
of
me.
M
So
the
quote
in
there
from
chair
powell
is
that
deeper
and
longer
recessions
can
leave
behind
lasting
damage
of
the
productive
capacity
of
the
pump
and
what
this
analysis
looks
at
looking
back
at
the
Great
Recession
says
it
notes
that
counties
that
had
the
greatest
losses
in
net
wealth,
which
was
larger
because
of
falling
housing
prices.
They
also
suffered
the
greatest
losses
in
employment
and
output
and,
additionally,
as
time
went
on
those
counties
that
had
this
impact
remained
depressed
because
of
the
housing
shock.
Experience.
M
M
So
we
saw
benefit
from
that
in
Charlotte,
coming
out
of
the
Great
Recession,
the
house,
price
and
wealth
effects
hits
to
Charlotte
were
smaller,
and
we
saw
a
pretty
steady
and
migration
as
a
result,
whereas
there
are
some
other
cities
that
were
really
heavily
impacted,
but
the
one
that
comes
to
mind
for
me
in
some
place,
like
Las
Vegas,
where
home
prices
dropped
so
substantially
and
their
population
growth
to
this
day
is
slower
than
it
was
substantially
slower.
That
was
in
the
pride
and
greed
recession.
M
So
the
other
piece
that
I
didn't
send
you
that
goes
along
with
this
is
we
had
a
couple
of
our
economist?
Did
a
simulation
exercise
on
learned
delinquencies
on
what
may
happen
in
the
current
episode?
So
what
they
do
is
they
they
put
in
some
plausible
assumptions
around
unemployment
house
price
changes
that
sort
of
thing,
and
then
they
assess
across
a
couple
of
scenarios
with
delinquencies,
not
just
for
for
mortgages,
but
other
other
types
of
debt
might
be.
M
So,
if
I
put
those
two
together
and
then
think
about
sort
of
how
things
may
play
out
one
key
difference
between
the
current
episode
and
what
we
saw
on
the
Great
Recession
and
it's
important
for
the
housing
sector
is.
We
are
not
likely
to
see
substantial
house
price
declines.
It's
time
to
laugh.
If
you
recall
what
happened
in
the
Great
Recession,
that
whole
downturn
was
centered
on
housing
and
housing
finance
and
was
the
driver
for
the
episode
this
time
around.
M
We
went
in
with
a
actually
a
healthy
economy
and
even
to
this
day-
and
you
know
at
a
conversation
just
two
days
ago,
with
a
home
builder
they're
going
pretty
strong
so
far,
so
the
home
building
side
looks
fairly
strong,
single-family
home
purchases
look
pretty
as
well.
They
may
weaken
over
time,
but
we're
clearly
not
gonna
have
an
episode
like
we
had
in
2007-2008,
which
means
we
may
let
miss
a
lot
of
the
most
damaging
parts
of
a
downturn,
at
least
in
the
near
term.
M
So
let
me
let
me
turn
a
little
bit
to
the
convention
piece
and
I.
Don't
have
a
final
answer
here
for
you
and
then
I'll
a
couple,
more
comments
on
the
long-term
outlets
for
Charlotte
specifically
and
then
and
then
stop
so
the
convention
trying
to
assess
the
overall
impact
of
losing
the
RNC
convention
is
requires
a
pretty
full
cost-benefit
analysis
and
there
are
a
lot
of
pieces
there.
Clearly
there's
the
the
obvious
economic
cost
that
has
to
come
from
losing
Hotel
Restaurant,
but
there's
there's
other
impacts
that
come
into
play,
including
the
public
health
impacts.
M
I
also
would
note
you
know
from
what
I
understand
you
have
some
of
the
larger
institutions,
their
Airport
Spectrum
Center
they've,
already
spent
a
lot
of
money.
It's
unclear
whether
that's
and
so
I
don't
have
a
whole
lot
to
comment
on
there
other
than
for
those
particular
industries
that
are
most
affected
by
this
we've.
We've
done
some
surveying
of
firms
across
our
district,
so
this
wouldn't
be
just
Charlotte
or
North
Carolina
firms,
but
I
think
it's
pretty
relevant
here.
Out
of
our
survey.
We
found
that
about
a
third
of
accommodation
and
food
service
firms.
M
Aren't
even
operating
and
that's
a
that's
a
that's
higher
than
all
other
sectors
except
arts,
entertainment
and
recreation
and
most
of
those
nearly
two-thirds
think
it's
going
to
take
six
months
over
a
year
till
they
know
they
fully
recover
and
it's
an
open
question
whether
they're
gonna
have
resources
to
make
it
through
that,
and
it's
clear
that
for
hotels
and
restaurants
in
particular.
This
summer
is
going
to
be
pivotal
right.
M
If
there's
not
a
pickup
in
activity
there,
their
cash
resources
are
likely
to
run
out,
and
you
can
see
you
can
see
a
couple
of
other
thoughts
around
the
long-term
outlook
for
Charlotte
so
I.
This
builds
on
the
idea
that
were
not
likely
to
see
substantial
house
price
declines
and
that'll
that'll
help
us
avoid
some
longer-term
impacts.
M
Most
forecasters
at
the
national
level
expect
the
unemployment
rate
to
be
at
or
near
double
digits
still
and
get
to
your
end
and
Charlotte's
been
matching
the
national
economy
roughly
for
unemployment.
So
far
about
half
of
those
job
losses
are
in
accommodation
and
food
service
and
then
the
rest
are
a
little
more
spread
out.
M
But
there's
good
reason
to
think
that,
as
we
pull
out
of
this,
that
the
factors
that
have
led
Charlotte
to
grow
faster
than
the
nation
as
a
whole
there's
nothing
that's
going
to
interrupt
those.
Those
trends
are
still
in
place.
The
things
that
people
call
out
quality
of
life
firms
call
out
the
workforce,
and
things
like
that.
That's
that
seems
likely
to
continue
and
I
would
add
to
that
some
interesting
feedback
from
some
of
the
firms
we've
talked
to
in
the
in
the
region.
M
They
they
want
to
be
someplace
that
that
is
a
little
less
dense.
If
they
are
a
US
company
operating
with
operations
overseas,
they
may
want
to
rish
or
some
of
that
and
then
the
other
thing
that's
really
taking
place
is
ecommerce
is
driving
a
lot
of
as
well,
but
it's
also
happening
at
an
individual
level.
I
can
think
of
three
examples.
M
There's
no
indication
that
construction
costs
have
eased
off
to
a
great
degree
in
this
in
this
downturn,
but
it
does
look
like
on
the
rental
market
front,
on
a
given
job
loss
and
some
other
things
we're
likely
to
see
that
market
soften
and
seen
rents
come
down
and
I,
don't
know
if
that
presents
any
opportunities
for
this
group
on
the
housing
front
or
what
typically
happens
in
downturns.
People
double
up
young
young
adults,
move
back
in
with
family.
D
I,
don't
know
if
you
can
answer
this
or
not.
You
said
by
the
end
of
this
year
it's
expected
that
unemployment
will
still
be
double
digits.
Part
of
I
think
our
task
force
challenge,
has
been
programs
put
in
place
to
kind
of
keep
people
in
housing,
whether
in
rental
or
al
ownership.
How
long
does
those
programs
need
to
last?
Essentially,
how
long
are
we
bridging
folks?
Do
you
have
a
sense
of
any
sense
of
when
an
unemployment
may
return
to
say
pre
Kovan
levels?
Is
it
mid?
M
This
is
far
out
of
my
expertise,
but
it
sounds
like
we're
ways
away
from
having
a
therapeutic
or
vaccine
that
would
make
this
a
non-issue,
but
I
do
have
a
couple
of
thoughts,
so
the
job
losses
obviously
have
been
concentrated
in
some
industries,
like
accommodation
and
food
service,
an
you
firing
and
then
surprisingly,
healthcare.
Think
of
doctors
and
dentist
offices.
M
So
take
an
example
of
a
dentist
office
where
you
show
up
and
they
their
teen
every
patient
up
for
the
dentist
right,
there's,
probably
four
or
five
patients
waiting
for
the
dentist
and
going
through
various
stages
of
processing.
Now
that's
got
to
be
cut
way
back
so
that
dentist
office
is
not
going
to
be
as
productive
right
and
it
is
that
Dennis
is
going
to
need
as
many
dental
assistants
or
admin
folks
at
the
front,
stamping
with
food
service
or
how
long
till
we're
back
to
100%
in
in-house
dining,
probably
not
for
a
long
time.
M
So
you're
gonna
see
some
of
those
folks.
So
what
I
worry
particularly
for
this
group
is
the
segment
most
affected
by
that
sort
of
delay.
Part
of
that
recovery
because
of
the
changes
in
between
processes.
That's
those
are
the
folks
that
you're
going
to
struggle
to
want
to
try
and
keep
in
place
that
are
gonna.
Have
the
lack
of
income
right
service
sector
workers,
professional
workers
that
are
largely
homeowners,
I,
think
they're,
they
just
cruise
along
right
and
then
it's
going
to
be
very
concentrated
in
what
is
probably
more
than
rental
market.
C
Guess,
thank
you.
You
mentioned
the
women
in
terms
of
the
loan
delinquencies
that
mortgages
and
other
debt
are
of.
It
seem
less
than
the
Great
Recession
and
you
suggested
forbearances
right
now
are
the
best
way
to
deal
with
that.
But
you
said
it's
not
a
permanent
solution,
so
how
long
is
the
window
of
effectiveness
or
for
these
forbearance
tactics?
What
do
we?
What
are
we
looking
at
yeah.
M
It's
a
good
question
and
I'll
give
a
perspective.
That's
not
a
complete
answer,
so
I
think
if
you
think
of
it
from
a
bankers
perspective
right.
If
that
first
forbearance
is
saying
two
or
three
months,
then
you
put
it
off
and
then
you,
you
know
in
a
lot
of
cases,
we're
coming
to
the
end
of
that
right.
If
someone
has
forbearance
for
a
couple
of
months,
then
it
becomes
a
question.
Are
we
gonna
forbear
for
longer?
At
what
point
does
the
bank
need
to
sit
down
and
say?
M
Okay,
this
is
not
the
same
one
we
initially
made.
We
might
have
to
actually
go
through
a
process
of
restructuring
right
and
then
you
know,
I'll
be
failure,
I,
don't
work
on
the
bank
examiner
side,
but
then
that
becomes
an
issue
for
the
bank's
as
they
talk
to
their
regulators
on
the
number
of
loans
they
might
be
putting
in
a
what
they
would
call
a
troubled
debt
restructuring
type
category,
and
so
I
can
tell
you.
M
There
are
statements
out
there
by
the
Federal
Reserve
and
the
other
regulators
on
how
they're
they're
gonna
work
with
banks
on
this.
But
I
don't
know
I.
Don't
have
any
information
on
what
exactly
that
looks
like
so
I
think,
there's
a
willingness
to
work
on
it,
but
you
know
I,
think
what
you
hear
from
some
other
economist
is
some
combination
of
forbearance
and
maybe
other
direct
support,
the
household
so
that
if
the
forbearance
needs
been,
you
you've
provided
those
households
with
the
resources
it
sustain
themselves
for
people.
C
The
recommendations
that
do
come
out
of
this
committee,
relating
to
financial
assistance
needs
to
put
a
heavy
pressure
on
our
financial
sector,
as
well
as
property
owners
by
the
type
of
relief,
our
city,
its
workers
and
its
renters
need.
Public
funds
are
best
used
when
leveraged
with
other
private
and
foundational
dollars,
while
I
agree
that
renters
are
our
number
one
priority
as
a
population
to
find
I
do
believe
that
they
are
the
number
one
population
that
we
need
to
find
ways
to
relieve
the
pressures
of
this
pandemic.
C
However,
I
have
been
reluctant
to
give
a
full-throated
endorsement
about
the
way
we
have
been
providing
direct
payments,
parental
relief.
Our
efforts
don't
seem
to
be
systemic,
sustainable
and
seems
more
responsive
to
business
models,
rather
than
the
needs
of
our
citizenry
I'd.
Like
to
know,
as
we
think
about
our
recommendations,
how
are
we
going
to
leverage
public
dollars
to
create
a
holistic,
systemic
approach
to
the
Fred
Jilly
that
this
pandemic
is
amplifying
amongst
our
local
government
dollars,
our
renters
and
our
wage
workers?
Eight.
H
I
believe
that
Charlotte
probably
has
somewhere
in
the
40
percent
range
of
our
employment
base
in
those
segments.
So
I'm
wondering
whether
or
not
we
are
facing
a
situation
where
the
resources
that
we
currently
have
are
simply
going
to
be
insufficient
to
bridge
the
gap
for
those
people
who
are
the
most
vulnerable
and
that
you
know
whether
or
not
we
ought
to
be
thinking
about
some
of
the
strategies
that
will
help
put
those
people
back
on
to
strong
footing
such
as
job
protection,
job
retraining
and
retooling,
our
workforce,
development
and
placement
things.
H
The
employees
leaving
a
market
area
was
one
of
the
things
that
continued
to
depress
those
market
areas,
and
so
it
seems
that
we
need
to
protect
against
that
and
at
the
same
time,
we
need
to
shore
up
those
individuals
who
need
this
short-term
kind
of
bridge.
But
I
don't
know
if
we
have
enough
resources
really
to
do
that.
So
can
you
just
give
me
your
thoughts
on
all
sure
that
sure
yeah.
M
So
you
could
be
spending.
You
could
see
something
of
a
cliff
later
this
summer,
when
all
that
support
runs
out.
If
there's
not
something
else
put
in
place
on
the
household
side,
and
there
are
a
lot
of
economists
that
are
calling
for
or
noting
the
success,
particularly
there's
early
payments
to
households
that
lower-income
households
in
particular
and
that
maybe
some
maybe
more
should
be
done.
There
I
agree
with
you
on
on
the
workforce
side.
M
Well,
I'll
tell
you
one
of
the
things
I
worry
about
in
the
current
budget
environment,
because
state
budgets
are
going
to
be
really
strained
going
forward.
I
think
a
substantial
amount
of
workers,
particularly
that
the
lower
Bay
scales,
could
be
permanently
displaced
and
so
they're
going
to
need
some
retraining
to
find
employment
in
other
industries.
M
Our
community
college
system
is
vital
there
and,
if
you're
not
familiar
with
the
funding
model,
they
take
into
ish
and
give
it
to
the
state
and
they're
funded
on
a
per
pupil
basis
in
a
rears,
and
so
it's
we've
been
talking.
A
lot
of
community
come
they're,
not
sure
what
their
enrollments
for
the
fall
are
going
to
look
like,
but
we
do
know
that
enrollments
that
FAFSA
applications
and
likely
enrollments
at
four-year
institutions
are
down
some
of
that's
going
to
go
to
Community
College.
You
also
have
the
flood
of
the
unemployed
needing
retraining.
M
Our
community
colleges
are
going
to
need
more
resources
at
a
time
when
they
could
be
getting
less
from
this
one
cut
one
potential
solution
there
and
and
I
think
you'll
see
us
even
advocating
for
this.
At
the
federal
level,
the
Pell
Grant
program
right
now
only
is
usable
for
degree
programs,
but
it's
clear
that
certificate
and
other
programs
are
the
quick-hit
way
to
turn
workers
from
one
industry
to
the
next.
That's
right,
one
viable
way
of
doing
that
is:
allow
Pell
grant
money
to
spend
on
those
programs.
A
There
anything
you
have
a
questions
for
Matt
from
the
task
force
members
there
being
none
Matt
want
to.
Thank
you
very
much
for
your
presentation
and
your
thoughtfulness.
I
also
wanted
to
thank
it
once
again.
Miss
Carl
Bell
for
the
same
as
well,
and
so
we
will
move
from
those
to
task
force
comments.
This
may
be
a
brief
meeting
for
us
today.
So
it's
a
lot
quicker
than
the
rest,
which
I
think
we
deserves.
Just
a
little
break.
We've
been
doing
some
great
work
with
the
task
force.
A
G
A
That's
goals
for
us
to
get
a
set
of
recommendations
from
the
lead
on
next
week
regarding
financial
assistance.
Mr.
Weston
I
did
hear
exactly
what
you
said
in
terms
of
more
participation
from
the
private
sector.
I
just
want
to
remind
everyone
that
the
United
Way
and
the
foundation
from
the
Carolinas
does
have
the
quote
that
nineteen
Relief
Fund
in
the
tune
of
some
eighteen
million
dollars
that
we're
leveraging
with
city
funds
for
covert
relief
on
a
wide
variety
of
issues,
housing,
small
business,
etc.
D
A
lot
rate
on
them,
I
think
you
made,
and
maybe
it's
just
repeating
its
I,
make
sure
I
understood
it
right
about
mortgage
holder
or
homeowners
or
property
owners
that
don't
have
a
mortgage
that
are
renting
their
property.
You
made
a
comment
about.
Is
it
just
that
you're
gonna?
Consider
that
as
a
group
that
we
haven't
talked
about
or
what
was
the
context
around,
that
specific
comment
around
that
that
effectively?
That
group
of
individuals
sure.
D
It
did
maybe
the
follow-up
is.
Is
there
any
reason-
and
maybe
this
is
a
question
for
Pam-
that
if
they
have
a
tenant
in
place,
who
can't
pay
their
rent
so
effectively,
what
we're
doing
with
landlords
under
the
United
Way
program
or
some
of
those
programs
is,
if
there's
a
tenant
who
can't
pay
the
rent?
The
landlord
can,
let
him
know
about
the
resource
and
then
they
would
go
apply
for
the
funding.
So
would
they
not
be
covered
of
essentially
into
that
program?.
J
So
Liat
think
the
short
answer
is
yes,
as
we
are
doing
exactly
what
mr.
Winston
alluded
to
is
working
with
our
partners,
our
private
sector
and
our
philanthropic
partners
to
broaden
our
existing
rent
relief
program.
We
certainly
do
want
to
design
that
in
such
a
way
that
it
can
serve
a
broader
group
of
people,
and
certainly
those
individuals
would
be
considered
in
that
type
of
program.
H
I'd
like
to
kind
of
circle
back
on
some
of
the
other
reading
material.
You
all
gave
us
in
answers
to
some
of
the
previous
questions,
in
particular
the
maps
that
you
all
provide,
which
I
thought
were
really
phenomenal
to
show
us
where
the
housing
units
are
being
produced
or
where
they're
located
that
are
being
supported
by
they
have
a
trust
fund
dollars,
house
Charlotte,
so
forth,
they're
a
couple
things
I
came
from
that
that
I
kind
of
want
to
highlight,
and
it
has
to
do
with
our
production
capacity.
H
So
that
means
roughly
five
thousand
four
hundred
or
something
450.
Something
were
delivered
from
2008
to
now
and
when
I
kind
of
look
at
the
average
number
of
units
we're
delivering
on
an
annual
basis
using
that
sort
of
math
we're
only
producing
about
eighty
something
more
units
per
year
over
the
last
11
years,
then
we
were
producing
the
first
five
years
of
the
fund.
H
So,
and
we
know
now
that
the
heat
that
we're
going
to
be
facing
just
based
on
the
economic
forecast
that
needs
going
to
grow
beyond
the
normal
growth
of
our
housing
demand
needs
so
I
think
we've.
We
really
need
to
figure
out
how
we
not
only
stop
the
bleeding
meaning.
How
do
we
deal
with
the
most
acute
housing
needs
right
now,
but
we
really
got
to
look
at
how
do
we
increase
our
capacity
and
I?
H
Think
the
allocation
and
uses
of
the
funds
is
great,
but
if
we
can't
put
more
units
on
the
ground
for
a
year,
we're
gonna
still
have
a
problem
where
we
we
have
this
growing
gap
and
our
need
is
going
to
continue
to
outpace
our
ability
to
meet
the
need
so
I'm
just
making
that
comment
now.
So
everybody
can
kind
of
think
about
if
there
are
other
ways
that
we
can
consider
increase
in
capacity
or
delivering
and
for
production
and
delivery
of
units
beyond
what
we've
discussed
so
far.
Thank
you.
B
B
Is
there
a
fun
and
I
know
that
I
know
we're
housing
passports
but
in
fact
considered?
Could
that
be
considered
small
business
somewhere
and
maybe
I,
don't
know
some
type
of
I
know
they
would
probably
get
or
possibly
get
a
bank
loan
and
take
out
some
equity
in
their
home
if
they
didn't
have
a
mortgage,
but
if
they
didn't
want
to
do
that,
is
there
a
fund
anywhere
in
our
community,
where
we
can
look
out
for
those
mom-and-pop,
blim
landlords,
I
know
Kim,
Graham's
I
think
mention
the
mom-and-pop
landlords
a
while
ago.
G
They
have
an
LLC
or
a
corporation
or
a
partnership
and
that's
work.
Then
they
could
probably
qualify
on
for
small
business
loan
of
some
sort,
but
if
they're
treated
as
a
sole
proprietorship,
then
they're
gonna
have
some
barriers
to
accessing
typical
resources
to
help
them
through
that
the
hardship,
so
they
would
probably
need
something
in
there.
G
I
know
Kathy
mentioned
that
the
mortgage
servicers
have
tried
to
provide
options
if
they
have
a
mortgage,
but
if
they
don't,
then
what-
and
we
know
that
we
have
plenty
of
folks
who
have
inherited
properties
from
a
family
member
that
they
are
renting
out,
they
might
be
renting
it
out
to
family
members.
Often
is
the
case.
So
what
do
we
do
with
them?
I
don't
have
an
answer
for
that.
That
is.
That
is
one
of
those
things
that
we'll
have
to
really
put
on
thinking
fast
for.
J
From
mr.
Lindsay
I
want
to
go
back
to
you
and
we
can
talk
about
it
more
offline,
I
really
I
want
to
follow
up
with
you
on
on
the
method
for
delivering
Housing,
Trust,
Fund
and
kind
the
amounts
that
have
been
delivered
a
year-over-year.
So
again
we
don't.
We
don't
need
to
do
it
on
during
this
meeting,
but
I
want
to
make
sure
that
you
and
maybe
other
committee
task
force
members
have
a
full
understanding
of
kind
of
the
efforts
made
to
deliver
additional
units.
A
Okay,
so
are
there
any
additional
questions?
We
will
go
to
lead
updates,
you
may
or
may
not
have
a
30-second
commercial.
You
want
to
give
the
task
force
in
terms
of
what
you're
working
on
prior
to
your
presentation,
so
we'll
pause
and
if
there's
any
lead
updates
that
you
want
to
give
us
we'll
take
those
at
this
time.
A
A
Thank
the
task
force
members
for
your
work
on
this
very
important
community
initiative.
Thank
the
viewing
audience
for
staying
with
us
for
week
after
week
we
got
some
y'all
who've
been
watching
us
every
week,
so
we
appreciate
the
public
paying
attention
to
what
we're
doing.
May
God
bless
you
all
and
meeting
adjourned.
Thank
you.