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IN <br />* Convene or participate in regional discussions about reducing the barriers to <br />mixed -income housing and neighborhoods, expanding affordable housing opportunities <br />in high -opportunity 8[e8e, assessing the feasibility 0fstrategies t0 reduce risk, and <br />furthering fair housing. <br />p Prepare and share annual updates 0fthe Housing Policy Plan Indicators, the Inventory <br />of Affordable Housing (including annual production of new affordable housing), and local <br />Housing Performance Scores. <br />* Implement policies from the Housing Policy Plan through the Counoi|\*work, including <br />administration of the Livable Communities Act and supporting the Counoi|'e role in transit <br />and transit -oriented development. <br />|Dl0|eDle0faf'QD: Res'|'e0c <br />The impacts of the Great Recession on the housing market demonstrated the need for <br />regional housing policy to be resilient. Resiliency refers to the adaptability of something — <br />in this case the outcomes, strategies, and policies of this plan —in the face of changing <br />conditions. Looking ahead, the Council ieconfident 0fboth continued population growth <br />and the continued aging of our region's residents. However, it is more difficult to predict <br />migration patterns, which are subject t0changing political and social environments, natural <br />disasters, orthe timing, scale, and impact of economic downturns. While we plan for <br />thennoet|ike|yeoenarioe,itieva|uab|etobrief|yooneidereonne"vvhatife''topreparefor <br />contingencies and avoid unintended consequences: <br />• What if even today's limited funding to support affordable housing development <br />diminishes or disappears? <br />- |n8nenvironment 0flimited resources, only the best affordable housing developments <br />will receive funding, so it will become even more critical to ensure regional balance in <br />eunneeefu| projects. <br />- Converting grant programs that protect, preserve, or create new housing options <br />could be stretched by being converted into revolving loan funds that can be used over <br />and over. However, this approach would be particularly challenging for difficult, but <br />important, housing projects thatdependongrantetobebui|t. <br />* What if financing to support affordable housing development becomes more risk -averse? <br />- Guarantees —for example, from a public or philanthropic entity —that address a <br />financially challenging but desirable p[0jeCt'erisk rather than its gap may mitigate 8lack <br />oflender confidence. <br />FIVE: Ncaxt Steps <br />