Countywide Symposium to Focus on Foreclosure Crisis

Business Wire, Oct 22, 2008

SAN DIEGO -- On October 30, 2008, the City Heights Foundation in collaboration with the FDIC, the Federal Reserve Bank of San Francisco, the Office of the Comptroller of the Currency, and a local agency task force will be hosting a symposium titled, "Developing a Regional Plan for Neighborhood Stabilization: Focus on San Diego County" that will be addressing the foreclosure crisis in San Diego County. The invitation only event will take place from 7 a.m. to 4 p.m. at the Joan B. Kroc Institute for Peace & Justice at the University of San Diego. The symposium will bring together over 100 local representatives from financial institutions, government agencies, nonprofit organizations, philanthropy, and business sectors to discuss and agree on a series of strategies for San Diego County that will help minimize the negative impact of foreclosures. The recommended strategies will be used to help guide federal, state, and local initiatives.

The event will start with a welcome from Congressman Bob Filner and two presentations: the first one will be on the Housing and Economic Recovery Act by a senior representative from the Department of Housing and Urban Development. The second on the prevalence of foreclosures in San Diego County by a representative from the Federal Reserve Bank of San Francisco. For the rest of the morning, participants will be divided into three interactive breakout sessions that will discuss and agree on specific strategies to address their respective topic areas: foreclosure prevention, reclaiming REO properties, and homebuyer financing.

During lunch there will be a presentation by Professor Norm Miller of the University of San Diego on "The Neighborhood Impact of Subprime Lending, Predatory Lending and Foreclosure." Professor Norm Miller is Director of Real Estate Academic Programs at the University of San Diego, School of Business Administration.

After lunch representatives from the breakout sessions will present their recommended strategies to all of the participants. The strategies will later be compiled into a report that will be used by local agencies to help guide federal, state and local initiatives in San Diego County.

The event sponsors and partners include the FDIC, Federal Reserve Bank of San Francisco, Office of the Comptroller of the Currency, City Heights Business Association, City Heights Foundation, California Bank & Trust, Price Charities, Housing Opportunities Collaborative, Community HousingWorks, San Diego Capital Collaborative, San Diego Reinvestment Task Force, University of San Diego's Burnham-Moores Center for Real Estate, and the United Way of San Diego.