Paul and Mike ring in the new year with Season 4 of Ownership Matters! As always, the first episode of the season takes us back to the previous year. Our co-hosts discuss the big events of 2023 – the continued success of PRICE Initiative efforts, more ROCs joining the network, and ROC Association’s involvement at the I’m HOME Conference in Chicago. They discuss some of their favorite podcast guests and look forward to some of the changes 2024 will bring, including new leadership for ROC USA and the continued movement of the organization’s new subsidiary, Integrity Community Solutions.
Episode: Big things happening, and big things to come
Welcome to the Ownership Matters podcast, where hosts Paul Bradley and Mike Bullard of ROC USA highlight the stories of people at the heart of the resident ownership movement! In today’s episode, Paul and Mike reflect on 2023 and look forward to 2024.
0:12 – Introduction of today’s episode
In today’s episode, hosts Mike Bullard and Paul Bradley take a look back at 2023 and discuss what they look forward to in 2024.
0:49 – The PRICE Initiative
They start off by saying they are starting right at the same place they ended off in 2022 with the PRICE Initiative bill passing congress on December 22, 2022. The $225 million are still being processed through HUD, but once that is complete, ROC USA can put an application together and compete for the money, which would then be funneled down to ROCs. Community leaders did the hard preparation work for this huge victory.
3:06 – Looking Back at 2023
In 2023, ROC USA welcomed 13 new co-ops, which range from 21 to 104 homes, with over 500 total and $45 million combined in purchase price. This extends over 8 different states and touches almost all points of the U.S. Every new community is a victory. Usually there is an average of 17 new ROCs per year, but this year was slightly lower due to market conditions and interest rates. There is also pressure to create viable purchase options and raise resources.
6:29 – Deferred loans
A deferred loan requires no monthly payment, but if the co-op sells the property, the city can ask for that to be repaid. This adds more resources to the table, more affordable housing and interest in preserving communities.
7:33 – Mission Trail Community Association
The Mission Trail Community Association is located in San Antonio, Texas and is a 49-home community with access to the riverwalk and golf course. This is made up of mostly Latino residents and they are upgrading the community through an investment from the City of San Antonio and the San Antonio Housing Project. This provides quality affordable housing.
9:00 – Integrity Community Solutions
There is a new ROC USA subsidiary called Integrity Community Solutions which is innovating the market change. This allows ROC USA to go to the market, use impact investor dollars to purchase portfolios of communities that would not be easily sold to residents, get them ready, and then offer them to the residents to lead the co-op.
11:49 – Expanding Roles of the ROC Association
This summer, around 16 co-op leaders attended the I’m HOME conference in Chicago, while simultaneously holding the ROC Association annual meeting with over 60 people present both in-person and virtually. They proposed a few changes to the bylaws, including expansion of the ROC Association from 3 to 6 Directors and allowing electronic voting in elections.
14:22 – Ongoing Grant Program
ROC USA allocates money each year for the ROC Association Better Together Grants program, coming up soon. The ROC Association was also given money allocated for making donations to communities that experience hardship, whether it’s a natural disaster or the death of a community member. The ROC Association want to be a source of support, both emotionally and financially.
15:52 – Favorite Podcasts of the Last Year & ROCKET
Mike elevated the ROC leader podcast guests, including Allie Lechner’s tremendous work on behalf of her community in gathering resources, and her relentless efforts to pay attention to her neighborhood and do something about it. The podcast with community leaders about their work on the online learning platform, ROCKET, was another great episode from 2023. There are 30 news courses for ROC members and 71 co-ops active on ROCKET. George McCarthy and Andrea Levere were two other great guests who are substantial influences on resident ownership.
19:07 – Looking Forward to 2024
In 2024, the PRICE Initiative is still huge. ROC USA’s Communications team is in the process of designing a new website that will be easier to navigate. Mike and Paul are also looking forward to more podcasts!
Learn more about ROC USA through our website.
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