From the Chief Executive Officer Remarks from the evening of October 25th Welcome! Thank you for coming and con- gratulations on your 35th anniversary with NHSNYC! This is as much your birthday cel- ebration, as it is ours. We were born out of a community need, raised by the com- munity stewards, and sustained by you – community visionaries continuing the good fight for access to affordable and decent homes for those who desire the stability of homeownership and financial security. I personally want to give a round of ap- plause to everyone in this room. Like our organization is growing again, this event is growing again. It’s been well over seven years since we’ve achieved what you’ve done; we have raised over $330,000 tonight! A special shout out and ovation to our honoree, John Buran; a good friend to NHSNYC and someone I’ve admired for over 20 years going back to our days at Fleet Bank. You have outdone yourself sir and your friends have come out in a big way to join us in honoring you. Thank you. A special recognition to our four lead sponsors tonight: Bank of Baroda, Dime, Flushing Bank and JPMorgan Chase. Events do not grow unless institutions like these four step up and make the big commitment…. Thank you all. Now onto this year’s Theme The Launch of a New Vision! Last year in this room, we had a conversation about how The Challenge Has Changed when addressing af- fordable homeownership in our communities and I shared our response to meeting those new challenges. Thus began comprehensive changes in our organization. As I share our vision for the new NHSNYC, I am reminded of a quote: “It is surely true that vision without knowl- edge is unstable and unwise; but it is just as surely true that knowledge without vision is barren and useless”. - Mary Ellen Chase What is our vision? We reorganized around the client, and defined our business lines by asking why people come to NHSNYC. They come to: Buy a home; Preserve their home; Keep their home; Gain the knowledge to be financially secure. Here Are Some of Our Key Strategic Programs: First – Buy. This year we will touch over 6,000 people through our education sessions, provide one-on-one coun- seling for at least 2,500, and create over 200 new homeowners. Through one of our partnerships with HPD, we also provide technical assistance services to over 1,400 limited-equity housing cooperatives throughout New York City. Our collective goal is to help preserve these developments as a critical source of affordable home- ownership for low-and-moderate-income families. We are moving tenants in the TIL buildings to homeowner- ship, and educating the owners in the HDFCs on how to improve the management of their buildings to avoid or reverse having these buildings revert to rentals. We also continue to serve as fiscal administrator for the City of New York’s $3 million HomeFirst program, provid- ing families with incomes up to 80% of the area median income who are purchasing their first home with $25,000 in forgivable loans for down payment assistance. Most importantly, in partnership with an investment bank, we have $1 million in DPCC monies for individuals between 81% and 120% We provide first mortgage financing through our revolving credit facility from Bank United, and have a portfolio product funded with capital provided by Bank of America, State Bank of India, Bank of Baroda, and Neighbor- Works America. And launching next Friday is NeighborhoodLIFT, a new $7 million down payment closing cost program for 350 people looking to purchase a home in the Bronx, Queens, or Brooklyn. Second - Preserve, by providing more affordable capital to low-and-moderate-income families through our Community Development Financial Institution. Specifically, we disbursed $1.5 million from the New York City Council as forgivable emergency loans for low-and-moderate-income families in the community to complete essential home repairs, with an emphasis on identifying seniors requiring modification projects that will allow them to age in place. We provided over $1.1 million in loans for rehab and repair with terms and rates that make them accessible and affordable to LMI families. With these two strategic programs of buying and preserving, we intend to double the CDFI to $5 million in the next three years. Third - Keep, with lead funding from the JPMorgan Chase, Citi and MetLife, we will assist at least 225 low-and-mod- erate-income families throughout New York City in reducing their annual housing costs, by an average of $7,000 or in aggregate, $1.2 million—through our core foreclosure prevention counseling work. Finally - Gain Financial Security. In 2017, we will expand the focus of our FCP to help more clients strengthen their personal finances by increasing their savings, decreasing debt and improving their credit score. In completing this work, we will also start using more financial technology tools, including mobile video conferencing. We deliver all our services in four ways: directly through our owned locations, through our integrated network of partners where we are NHSNYC at a physical location such as the Transit Workers Community Center in the Bronx, jointly with a not for profit partner to deliver a specific program such as Project HELP, or we administer a program on behalf of a partner such as National Disabilities Institute. It is our mission to continue to lay the groundwork and be the voice that changes gentrification in neighbor- hoods to include, not exclude those who live there now. To preserve the affordable housing stock that exists by helping the next generations buy their grandparent’s or parent’s home if they want. To ensure that the voices of local residents including our staff, board, elected officials, or community boards be heard in a way that honors the past and ensures a future for New Yorkers who represent the 95% so that they have choices and stability in their housing. Your contributions are why in 35 years, we could counsel 179,000 New Yorkers, help 7,200 families become home- owners, originate over $106 million loans for rehab and repairs, and facilitated over $2 billion in investments into neighborhoods. Simply put… you rock!