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JPMorganChase Funds Cohort Addressing Affordable Homeownership in Baltimore

One Community Update
October 9, 2024

Source: The Daily Record

JPMorganChase Wednesday announced that nine nonprofits will receive funding as part of a new cohort of leaders working to address housing vacancy across Baltimore.

The cohort aims to stabilize housing supply and create more affordable homeownership opportunities for Baltimore’s legacy residents by increasing organizational capacity, strengthening local partnerships and expanding acquisition and rehabilitation of vacant and abandoned homes.

JPMorganChase is working with the Urban Institute and the Center for Community Progress to support the cohort through peer exchange, capacity building and learning opportunities rooted in the city’s unique context.

By facilitating peer learning and sharing insights with the broader housing industry, the cohort builds on the firm’s strategy to support impact through insights, including convening the strength and expertise of housing organizations across the city.

The Baltimore Housing Innovation Cohort will work to reduce housing vacancy, grow organizational capacity and shift systems to enable housing revitalization at scale. The cohort will leverage the existing strengths and expertise of housing leaders across the city, allowing partners to learn and grow together in a shared commitment to advancing housing solutions. This strategy is guided by the firm’s localized approach to creating impact by supporting and convening local leaders who know their community best.

Participants in the Baltimore Housing Innovation Cohort include:

  • Black Women Build – Baltimore Inc. will rehabilitate vacant and deteriorated rowhomes in the Upton, Druid Heights, Penn North and Poppleton neighborhoods of Baltimore and provide skilled trades training, community- and wealth building opportunities. Participants in this program are then able to purchase the homes they help to build, increasing access to affordable, sustainable homeownership in Baltimore.
  • City Life-Community Builders Ltd. will rehabilitate homes, advance personal and professional skills development and build coalitions of committed stakeholders working to shift Baltimore’s systems to address housing vacancy at scale.
  • Druid Heights Community Development Corporation will implement the Bakers View Homeownership Development Project, a multiphase effort to produce affordable homeownership in one of Baltimore’s oldest communities. The Bakers View Homeownership Development Project is designed to further reduce density and crime, increase visit-ability, and make Druid Heights a sought-after community.
  • Greater Baybrook Alliance Inc. will build organizational capacity and systems – including the ability to leverage Baltimore’s property acquisition programs – to advance whole block redevelopment in the Brooklyn, Curtis Bay, and Brooklyn Park neighborhoods of Baltimore.
  • Green & Healthy Homes Initiative Inc. will advise cohort partners on healthy home interventions that can improve health, safety and energy efficiency outcomes, and will complete holistic housing interventions to help stabilize and preserve homeownership for seniors and family residents.
  • North East Housing Initiative Inc. will acquire, renovate and sell affordable homes in northeast Baltimore City to low-income households through a Community Land Trust model that maintains permanent affordability of the home and land.
  • National Community Stabilization Trust– Developing Affordable Starter Homes (DASH) Fund works to increase homeownership by expanding the supply of affordable, single-family homes to stabilize neighborhoods, build community wealth, and advance racial equity.   NCST continues to increase access to low-cost capital through the DASH Fund, a loan product available to emerging Baltimore housing developers that can be used for acquisition and development costs associated with revitalizing distressed and vacant single-family homes.
  • ReBuild Metro Inc. will advance its block-by-block redevelopment of abandoned homes in East Baltimore, increase affordable and mixed-income homebuying opportunities, and expand its legacy homeowner repair program, all as part of a replicable and community-driven “whole block” redevelopment model that ensures both new and legacy residents benefit from neighborhood revitalization.
  • Southwest Partnership Inc. will continue building organizational capacity to implement a Housing Plan focused on reducing vacancy and providing affordable housing options in three Baltimore neighborhoods – Mount Clare, Hollins Roundhouse, and Franklin Square neighborhoods.

JPMorganChase has served the Greater Baltimore community for more than 130 years. The firm has supported the placement of more than 12,000 local residents into apprenticeships, full-time, or part-time positions and the participation of more than 5,800 individuals in job training programs aligned with high-demand industries.

Since 2019 the firm has committed $16.7 million in philanthropic capital to the region where it serves as the bank of choice for more than 35,000 small business clients and 569,000 consumer banking customers.

 

For full report, please click the source link above.

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CEO

Alan Jaffa

Alan Jaffa is the Chief Executive Officer for Safeguard Properties, steering the company as the mortgage field services industry leader. He also serves on the board of advisors for SCG Partners, a middle-market private equity fund focused on diversifying and expanding Safeguard Properties’ business model into complimentary markets.

Alan joined Safeguard in 1995, learning the business from the ground up. He was promoted to Chief Operating Officer in 2002, and was named CEO in May 2010. His hands-on experience has given him unique insights as a leader to innovate, improve and strengthen Safeguard’s processes to assure that the company adheres to the highest standards of quality and customer service.

Under Alan’s leadership, Safeguard has grown significantly with strategies that have included new and expanded services, technology investments that deliver higher quality and greater efficiency to clients, and strategic acquisitions. He takes a team approach to process improvement, involving staff at all levels of the organization to address issues, brainstorm solutions, and identify new and better ways to serve clients.

In 2008, Alan was recognized by Crain’s Cleveland Business in its annual “40-Under-40” profile of young leaders. He also was named a NEO Ernst & Young Entrepreneur Of The Year® Award finalist in 2013.

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Esq., General Counsel and EVP

Linda Erkkila

Linda Erkkila is the General Counsel and Executive Vice President for Safeguard Properties, with oversight of legal, human resources, training, and compliance. Linda’s broad scope of oversight covers regulatory issues that impact Safeguard’s operations, risk mitigation, strategic planning, human resources and training initiatives, compliance, insurance, litigation and claims management, and counsel related to mergers, acquisition and joint ventures.

Linda assures that Safeguard’s strategic initiatives align with its resources, leverage opportunities across the company, and contemplate compliance mandates. She has practiced law for 25 years and her experience, both as outside and in-house counsel, covers a wide range of corporate matters, including regulatory disclosure, corporate governance compliance, risk assessment, compensation and benefits, litigation management, and mergers and acquisitions.

Linda earned her JD at Cleveland-Marshall College of Law. She holds a degree in economics from Miami University and an MBA. Linda was previously named as both a “Woman of Influence” by HousingWire and as a “Leading Lady” by MReport.

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COO

Michael Greenbaum

Michael Greenbaum is the Chief Operating Officer of Safeguard Properties, where he has played a pivotal role since joining the company in July 2010. Initially brought on as Vice President of REO, Mike’s exceptional leadership and strategic vision quickly propelled him to Vice President of Operations in 2013, and ultimately to COO in 2015. Over his 14-year tenure at Safeguard, Mike has been instrumental in driving change and fostering innovation within the Property Preservation sector, consistently delivering excellence and becoming a trusted partner to clients and investors.

A distinguished graduate of the United States Military Academy at West Point, Mike earned a degree in Quantitative Economics. Following his graduation, he served in the U.S. Army’s Ordnance Branch, where he specialized in supply chain management. Before his tenure at Safeguard, Mike honed his expertise by managing global supply chains for 13 years, leveraging his military and civilian experience to lead with precision and efficacy.

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CFO

Joe Iafigliola

Joe Iafigliola is the Chief Financial Officer for Safeguard Properties. Joe is responsible for the Control, Quality Assurance, Business Development, Marketing, Accounting, and Information Security departments. At the core of his responsibilities is the drive to ensure that Safeguard’s focus remains rooted in Customer Service = Resolution. Through his executive leadership role, he actively supports SGPNOW.com, an on-demand service geared towards real estate and property management professionals as well as individual home owners in need of inspection and property preservation services. Joe is also an integral force behind Compliance Connections, a branch of Safeguard Properties that allows code enforcement professionals to report violations at properties that can then be addressed by the Safeguard vendor network. Compliance Connections also researches and shares vacant property ordinance information with Safeguard clients.

Joe has an MBA from The Weatherhead School of Management at Case Western Reserve University, is a Certified Management Accountant (CMA), and holds a bachelor’s degree from The Ohio State University’s Honors Accounting program.

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Business Development

Carrie Tackett

Business Development Safeguard Properties