Lozano Lauds Housing Bill

I spoke recently with Norris Lozano, CEO of Urban Development & Finance, about the potential impact of the Housing and Economic Recovery Act of 2008. Here is a portion of his response:

Lozano: I am not a partisan of one particular party; I am only interested in sustainable development in low-income communities. Which is why I applaud all members of Congress who worked together to pass the Housing and Economic Recovery Act of 2008, especially the enhancements to the Low Income Housing Tax Credit (LIHTC) program. People who live and work in South Los Angeles will benefit from this important legislation.

"It is absolutely critical to use all possible tools to encourage private investment in urban neighborhoods in need. Tax credits such as LIHTC and New Markets Tax Credits are great examples. When used effectively, they can be structured to produce a triple bottom line: economic incentive (first bottom line) which in turn generates social benefits (second bottom line) in low-income communities - jobs, new construction, parks, schools, healthcare facilities  - and also allow cost-savings which open the door to investment in sustainable design. I've worked hard to bring these benefits to projects in Portland, Los Angeles, Chicago, New Orleans, and New York City.

"It is important for Congress to move quickly to pass HR 6049 Energy and Tax Extenders Act of 2008, which will continue to stimulate investment in renewable energy."

   -Christopher Smith

LEED in LA

This spring, the City Council of Los Angeles passed Municipal Codes 16.10 and 16.11, effectively requiring that all buildings of at least 50,000 square feet or 50 units to follow LEED greenbuilding standards, with a goal of reducing carbon emissions in the city by more than 80,000 tons by 2012. 

Urban Development & Finance, LLC applauds this courageous action, as it will lead to more environmentally responsible building activity in LA, and a higher quality of life for people who live, work and play in these structures. As most in our industry know, LEED stands for Leadership in Energy and Environmental Design, and is the de facto standard for energy efficient, ecologically sensitive design and construction in the United States. The benefits of greenbuilding (.pdf) are well-documented and include better indoor air quality, savings of energy and natural resources, worker productivity, increased sales, higher test scores in schools.

We support this action as it is in line with our mission and values as a triple bottom line development and financial services firm. In the past 4 years, I have had to good fortune to lead teams in structuring and providing key financing for over $650 million in greenbuildings in Portland and Los Angeles, including the Gerding Theater at the Armory, the first building in Oregon, and the first building on the National Register of Historic Places, to achieve a LEED Platinum rating. Seven commercial projects in all, comprising 10 buildings. In addition, over the past year, I started a solar power initiative that has already borne fruit utilizing tax credits and other financial instruments to bring plentiful, renewable power to large scale facilities. 

We look forward to exceeding the Los Angeles LEED requirements on each project we finance and develop here in Los Angeles. Our first two large scale developments, Bethany Square and Montclair West Adams, are both targeting LEED Gold, and are planned to include Senior Affordable Housing over commercial and community space. Both of these projects are located in extremely economically distressed areas. As in the past, we will continue to structure tax credits, and other sources of public and private financing to provide triple bottom line benefits to investors, the communities, and the environment.

   - Norris Lozano

Bill Hayward's Leadership

I read this week in the Monterey County Herald that the Monterey County Business Council has granted its first Green Public Public-Private Partnership Award to Hayward Corporation and The Sustainability Academy for the EnviroSmart Program, which identifies environmentally preferred building materials. This award is a great honor for Bill Hayward and his company, and offers but a glimpse into what Bill has accomplished in the areas of sustainable forestry, greenbuilding, and sustainable product development over the past 15 years. As head of a California lumber company, Bill easily could have paid lip service to the environment while relocating operations to areas where ecological concerns are lower. But Bill is a Californian, and a man of deep personal commitment (that his title includes Chief Sustainability Officer is telling). He says, "We recognize the opportunity, accept the responsibility, and will lead the journey to environmental stewardship." Chairman of the Board of the Forest Stewardship Council - US Division, and creator of several lines of sustainably produce products, Bill has also built the first LEED Gold truss manufacturing facility. Hayward walks the walk from FSC products to green building results. Congratulations on the recognition from the business community, Bill.

   - Norris Lozano