The HAND network is hard at work to address the growing housing affordability challenge across the Capital Region. Five Minutes With is a series highlighting these members and other stakeholders. This informal conversation delves into their recent projects, the affordable housing industry, and more. This month, in honor of November being American Indian Heritage Month, we are excited to share this special edition of Five Minutes With. In this edition, we had a conversation with Evelyn Immonen, a Program Officer for Enterprise Community Partners’ Rural and Native American Programs. Check out our dialogue below to learn more about the importance of having Native Americans in places of leadership, the recent movement to reauthorize NAHASDA, and advice on how you can help support the continuing of this important work beyond November!

HAND: Can you tell us about Enterprise Community Partner’s Rural and Native American Programs and about how you landed in this space? 
EI: Enterprise Community Partner’s Rural and Native American Programs provides resources, capacity building support, and technical assistance to organizations to help create safe, decent, green, affordable homes in both rural and Native communities. Enterprise is one of several national intermediaries in the affordable housing space, and I joined them from the Housing Assistance Council which focuses exclusively on rural America. I’m proud to see the work Enterprise does in these geographies growing.

HAND: Can you speak on how you approach your work in this space? Also, can you touch on the importance of having Native Americans in positions where they affect the issues facing their communities?
EI: My family has heritage with the Turtle Mountain Band of Chippewa Indians, and we have family ties on Standing Rock as well. I have always felt a connection to that history and sought to give back when I went to grad school for public policy. In my career, it wasn’t so important what issue I was working on so long as it was improving Native communities: I had an opportunity to work in affordable housing and now I’m happy to dive deeper into that. There are so many professionals in this sector that are incredibly knowledgeable, especially on the Rural and Native American team. Still, it’s rare to see organizations support Native people who have really been raised on the reservation and in ceremony—but that ought to be their core constituents, since it’s the communities who are most remote and most entrenched in generational poverty that need the greatest resources. There should be more Native Americans in positions where they can make a change simply because we will always hold a flame under the issues and not let anyone off the hook. That’s often what it takes in these spaces. Coastal elitism is quite real and it’s easy to tokenize without doing real work. I hope that I’m able to effectively bridge those two cultures, but at the same time I consider it a great obligation and responsibility.

HAND: Do you believe there is a “secret sauce” to providing both affordable and culturally relevant housing on tribal lands? What do you think is the most significant obstacle?
EI: Well, every housing development on tribal lands should start with the tribe themselves. If not the elected tribal council, then the housing authority they have appointed in their place. This is probably the clearest path to an affordable housing development that’s culturally relevant: by stepping aside to allow leaders from the community make decisions and direct priorities. Tribes are the most likely to be their own developers on their own lands, but even in cases of partnership with another developer, its not only respectful to defer to the tribe, but often they will have access to additional funding or be able to expedite approvals that make the project’s success possible. That leads me to the obstacle, though, because Native tribes are overburdened with many obligations and staff capacity is constantly an issue. Of course, these issues are quite complex and its difficult to make generalizations about all the different circumstances, but I think bringing more resources and assistance to a tribe-directed project is really the secret sauce.

HAND: Last month, in an article you reflected on how the Native American Housing and Self-Determination Act (NAHASDA) has transformed the landscape of Indian Country. Can you discuss the recent movement to reauthorize NAHASDA in both the House Financial Services Committee and Senate, and how the affordable housing community can continue to support the NAHASDA for the next 25 years?
EI: Reauthorizing NAHASDA and funding it in full is absolutely critical. Without authorization, there is nothing holding Congress accountable to funding the program each year, despite the over 40,000 single family and 25,000 rental homes developed over the last 25 years that prove how effective the legislation is. Reauthorization bills would also move the Tribal HUD-VASH program out of demonstration, and restructure HUD to better prioritize Native Housing. There has been legislation introduced to reauthorize NAHASDA in every Congress since it expired in 2013, and this year there is movement in both the House and Senate, but I don’t think it will ever come to fruition without pressure from advocacy organizations.

I’m optimistic to see that NAHASDA was funded at $875 million this last round of appropriations, which is the highest it has ever been. At the same time, if we consider inflation over the years, this still does not set up the program with the same resources it had in the first year of its existence. Now the cost burden of homeownership is rising, the population of Native Americans are rising, and the cost of construction materials post-2020 are rising. Every policy actor who works in the affordable housing space should be applying pressure to our legislators to prioritize NAHASDA.

HAND: Enterprise Community Partners recently completed the first Native Homeownership Learning Communities Cohort (NHLCC). What are some of the lessons learned from this?
EI: While I didn’t get the chance to work with the cohort while it was ongoing, I was really optimistic about what I saw in the Impact Report, which I helped put together. Enterprise’s team has really built up their expertise in homeownership in Indian Country over the years, through the Enhancing and Implementing Native Homeownership curriculum. What was different about NHLCC was that it was not geared just towards one tribe’s homeownership program but worked with 18 different groups for over a year. I think participants really valued the peer-learning component and the chance to learn from more experienced tribes as opposed to disengaged federal agencies. There was also a unique emphasis on collaboration with CDFIs, and groups expressed that they learned more about each other through NHLCC than working together on the same reservation for years. I would recommend checking out the Impact Report for more information, which also includes a profile of each tribal housing organization’s accomplishments over the cohort period.

HAND: What are you most looking forward to at the Rural and Native American Program over the coming months? Are there any projects or programs you are particularly excited about?
EI: I just mentioned Enterprise’s expertise in tribal homeownership, but I’m really looking forward to being a part of expanding our Native expertise into multi-family and rental as well. Enterprise is authoring a Native Developers Guide which will assist developers of multi-family and rental homes on Native land. It’s going to be comprehensive and include every stage of development so that TDHEs, Housing Authorities, and Non-profits have all the information they need in one place. At the same time, I’m excited to make this about more than just one publication and to hopefully have a hands-on, collaborative approach to making sure this is a useable and useful document for tribes.

Enterprise has a lot more on the horizon as well, and our team is continuing to educate the organization as a whole on working with tribes, including through a new Native American Advisory Council that’s forming with other Native nonprofits. We’re also expanding out of the lower 48 with new work in Alaska and Hawaii, so stay tuned!

HAND: We want to help support the continuing of this work beyond November, so what advice would you give someone who doesn’t know where to start and is seeking to make an impact? On the other end of the spectrum, what are some next steps for someone looking to advance the work they’re already doing work in this space
EI: First, you have to know your history, especially working in Native spaces. That doesn’t mean just the history of genocide and displacement, but also the legal history. The law is a living and breathing entity, and Indian Law has a number of complicated twists and turns in the fight for recognition of tribal sovereignty—several of these are covered in this blog post by my colleague Dustin Baird.

Then, its important to make change in your organization so that that history is recognized today. Land acknowledgements are a good way to start doing that, because it sets the intentions of any given meeting to focus on the land, its original inhabitants that still to this day consider it sacred, and our obligations to be good stewards to that land and to each other.

Finally, my advice to anyone currently working with Native communities: if you’ve been to one reservation, you have been to one reservation. Every Native Nation has their own land, treaty, history, culture, and government, and no two are the same. Make no assumptions, stay humble, and show up consistently. We need more of you.

Pictured:Rich Devaney and Dara Koller 

The HAND network is hard at work to address the growing housing affordability challenge across the Capital Region. Five Minutes With is a series highlighting these members and other stakeholders. This informal conversation delves into their recent projects, the affordable housing industry, and more. In the latest edition, we have a conversation with EagleBank‘s Rich Devaney, Senior Vice President and Dara Koller, SVP & Deputy Director. They chatted with us about their extensive experience in the affordable housing and community development industry and how they landed in this space. Rich highlights past challenges, lessons learned, and his advice to emerging leaders seeking to make an impact. Dara shares key takeaways from her experience, what she is bringing into her new role, and other her interest outside of affordable housing. Check out our dialogue below:

HAND: Both of you have extensive experience in the affordable housing and community development industry  – Can you tell us about your professional journey and how you landed in this space?
DK: I have 20 years of industry experience, working in leadership roles at Freddie Mac and agency lenders supporting Fannie Mae and Freddie Mac multifamily executions, primarily focused on affordable rental housing executions for both agencies, including new construction and preservation of affordable rental housing properties.  While at Freddie Mac, I was also involved in the development and roll-out of  a few new products supporting the affordable rental housing industry as well.  When I first began working on affordable rental housing transactions, it was not the most well understood or popular asset type in the industry compared to market rate rental housing, but I always believed it was extremely important and I was excited to be part of an industry focused on solving the growing need for affordable rental housing in the U.S.  
RD:  I began my career just after the passing of the CRA legislation and immediately prior to LIHTC legislation being rolled out, working with and for some of the most respected and innovative industry icons in the DC market.  It was an exciting time, fusing the tension between regulatory pressure in the banking industry and innovation and expansion of and in the community development and non-profit sector intent on increasing its impact in significantly underserved neighborhoods.  My focus and vision was grounded in building high-impact community development and affordable housing businesses within and with large institutions (Bank of America, Fannie Mae, top 5 Life Companies) under the rubric of profitability, sustainability and scalability.  My experiences took me through the capital stack and from neighborhoods to national presence.  Throughout, my greatest experience to date was setting up this FHA business within EagleBank, coupling the best of financial strength, innovation and flexibility in its ability to deliver capital within the community it serves. 

HAND: Rich, you launched EagleBank’s FHA Multifamily Lending Division in 2015, in addition to several other investment initiatives for the bank. Can you tell us about one of your largest challenges over the past six years and what you have learned?
RD: Our FHA Multifamily business is a product line that falls squarely within the Bank’s commercial real estate span of lending.  As such, our task was to integrate this business in a collaborative way, not competitive, with the balance sheet lending activity, getting the buy-in from the line lenders and alignment in goals and objectives…..”Enlightened self-interest”.  Having set up multiple businesses over my 35- year career, this one presented unique challenges, including how to integrate.  It took a solid 3 years of repetition, “proving the thesis” and trust building to get to the point where the value chain is clear and tangible.  Presently, every single transaction within the FHA pipeline will touch the Commercial Real Estate balance sheet.  Lesson learned was that you can get buy-in strategically at the highest level, but you must get buy-in tactically where the rubber hits the road with the people who make the business happen. 

HAND: Dara, you are fairly new to the bank – what key takeaway(s) from your experience thus far are you bringing into your new role?
DK:

• There is a continuing need for safe, decent affordable rental housing and supportive services in our local communities and EagleBank has made a significant contribution to the growth across the Washington D.C. market and in communities throughout the Mid-Atlantic over the last 20 years. EagleBank continues to play an important role in financing affordable multifamily rental housing, which has helped build and maintain safe and economically stable communities which significantly improve the quality of life for its residents. 
• We have a tremendous opportunity to continue to make a contribution to the local community to provide much needed affordable rental housing through our deep relationships with affordable housing developers and investors, as well as EagleBank’s FHA multifamily business, which allows us to do business anywhere in the U.S. We are a community bank, with national capabilities with our FHA multifamily licenses.  I think that is a powerful combination.
• My strong affordable housing and multifamily experience will augment EagleBank’s growing FHA multifamily business. In this new role, I will be dedicated to FHA loan originations, business development as well as serving as a resource for the Bank’s focused efforts on affordable rental housing. 

HAND: Rich, do you believe there is a “secret sauce” to addressing housing affordability and creating more equitable communities in our region? If so, what do you think that is? What do you think is the largest obstacle?
RD: I believe the private financing vehicles and resources are readily accessible and in sufficient amounts to have great impact.  There needs to be, and always has been, focus on equity in the delivery and availability of affordable housing.  One of my greatest mentors emblazoned in my mind “you are what you measure”, so to solve issues related to equity, we need goals, transparency and accountability….period!  My perspective is that the largest obstacles in the production of affordable housing are the public entitlement process, zoning, planning, and permitting.  Some municipalities have processes that take up to 3-5 years which infuses risk, uncertainty and viability to the process. 

HAND: Rich, what advice would you give to emerging leaders who are seeking to make an impact in this space?
RD: Be flexible – issues are rarely binary choices, every situation is a learning experience – accept set-backs as a gift and surround yourself with diversity – holistically.

HAND: Rich and Dara, what are you most looking forward to over the coming months at EagleBank? Are there any projects or programs that you are particularly excited about?
RD & DK: Furthering the synergies within the Bank, our investment in the Washington Housing Initiative and further coupling our balance sheet and FHA business. 

The FHA Multifamily Group is an emerging contributor to the strategic goals and objectives of the CRE Group and EagleBank. 

EagleBank financed a handful of key affordable housing projects in the Washington D.C market including:

• More than $81 million in financing to support a key affordable housing project in Bethesda MD, which includes 401 multifamily housing units situated on five separate land parcels.
• Phase I of Addison Row Apartments, Capital Heights, MD a planned community consisting of a 321 unit multifamily building. The project is currently in lease-up. The community caters to workforce housing needs and in addition to affordability, offers large unit sizes compared to new construction in Washington, D.C. Phase II will add 327 units. 
• A construction loan used in conjunction with 4% LIHTC to rehabilitate a 60 unit LIHTC affordable community located in the Barry Farms neighborhood of Southeast Washington, DC. After completion, a HUD FHA Section 223(f) refinance application to exit the bank construction loan.
• A $50 million construction loan for a to-be-built low income housing project above retail space located in the Capital Hill area of Washington, DC. The project will utilize 4% LIHTC and a long-term rental subsidy contract with the DCHFA.
• EagleBank is currently working on a few notable affordable housing transactions, including the renovation and recapitalization of a project-based Section 8 property located in the Anacostia neighborhood in Southeast Washington DC utilizing 4% LIHTC.

HAND: Rich and Dara, if you weren’t working in this space, what might you be doing?
DK:  I have always been interested in architecture and design, focused on creating and transforming spaces to meet the needs of a building’s occupants and looking for solutions to present and future issues, such as climate change.  Incorporating sustainable and green building design in construction projects is increasingly important to reduce the carbon footprint and use our energy and water resources more efficiently.
RD: I have been consistent in responding to this question when asked over the past 30 years.  I would be dedicating 100% of my time working in programs that focus on disadvantaged youth, focusing on education and financial literacy.  To me, one of the biggest gaps we have racially and socio-economically is knowledge of and access to financial tools, products and services. 

 A lack of investments, an unstimulated economy, and inadequate access to healthy foods, education and healthcare is not an unfamiliar reality of low-income communities. The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) created the New Market Tax Credit Program (NMTC Program) to reinvigorate struggling local economies of low-income communities by breaking the cycle of disinvestment. The NMTC Program accomplishes its goal by permitting investors to receive a tax credit against their federal income tax in exchange for making equity investments in specialized financial intermediaries called Community Development Entities. The credit totals 39 percent of the original investment amount and is claimed over a period of seven years. The CDFI Fund recently announced those awarded the 2020 NMTC allocation. We are excited to uplift and congratulate our members who have received this award:

• Capital Impact Partners
• Corporation for Supportive Housing
• Enterprise 
• Local Initiatives Support Corporation
• Low Income Investment Fund
• PNC Community Partners
• Reinvestment Fund, Inc.
• The Community Builders

For more information, please see the NMTC Program Fact Sheet (English / Español). A detailed overview of the NMTC Program, including information on eligible activities, can also be found in the Introduction to the NMTC Program presentation.