The meeting was chaired by Economic Development Program and Policy Committee Co-Chair Roslyn Phillips, Chief, Community Development Division, City of Jacksonville, Florida.

Romulus Johnson, NCDA Staff for Economic Development, gave a legislative update on the status of FY 2001 appropriations for HUD's core economic development programs-specifically, the Section 108 Loan Guarantee Program, the EDI/Special Purpose Grants program, and the Brownfields Economic Development Initiative Program. The current status of pending Brownfields reform legislation in the 106^th Congress and HUD action on predatory lending was also covered during his briefing.

Next, Romulus Johnson outlined the major provision of the New Markets-Community Renewal stimulus package for low-income communities that was announced by the President and Speaker Hastert in late May of 2000. The key portions of the package touch on such varying areas of concern as: the acceleration of a previously authorized increase of the Low-Income Housing Tax Credit; the designation of 9 new Round III Empowerment Zones; additional funding for existing Round II and Round I EZs; the creation of 40 new renewal Communities, which are slated to enjoy substantial pro-growth tax benefits; the establishment of a New Markets Tax Credit; and authorization of and increased funding for the APICS program.

The work of a recently created HUD-Treasury Department joint commission on Predatory Lending was discussed.(Members expressed an interest in seeing staff use the website and other Association communication organs to better educate them on what they can do to combat predatory lending practices in their community.)

Greg Hamilton, CPD Director for HUD's Louisiana State Office, was present during the meeting and made remarks encouraging communities to make use of the Section 108 loan guarantee program for Economic Development, and about HUD's Community Empowerment Fund pilot program to improve the effectiveness of Section 108 program as a economic development tool. Greg Hamilton also announced the publication of the new 2000 Federal programs guide.

Ken Williams, HUD Deputy Assistant Secretary for Block Grant Administration, was in attendance as well throughout the meeting and fielded various questions from members, mostly regarding timely Section 108 application approval concerns.

A brief, provocative discussion was held on the growing importance of faith-based community service organizations as key partners with HUD and local governments in promoting low-income economic development.

No new motions or resolutions were entertained.

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