FOR IMMEDIATE RELEASE June 15, 2005	Contact: Michele Anapol (202) 466-2121 x226 manapol@nhc.org

Remarks by Stephen M. Ross, Recipient of the

2005 NHC Housing Person of the Year Award

I am extremely grateful and honored to receive this award tonight. I would like to thank Alan Weiner for chairing this event … and all the people who have made this such a successful dinner.

I would also like to thank my colleagues at The Related Companies and CharterMac whom I have worked with for so long and who are responsible for my receiving this award. And, finally, I would like to thank my wife and children for putting up with me over the years and for their encouragement.

Your organization has been the most effective champion for affordable housing in our country today and your efforts stand out against the landscape in which our periodically booming economy does less and less for those in need of decent housing.

I started The Related Companies with a goal of financing and developing government assisted housing under one roof which was unique then and still is today. As we all know, however, this industry is now known as affordable housing only because of the continuing decrease in government subsidies.

A recent article in The New York Times talked about the global obsession with real estate particularly residential real estate. That obsession has in many incidents benefited those who need it least and disadvantaged those who need it most.

Every year we have continued to see the reduction by the federal government in funding for the various HUD programs, and it is clear that we are now under serving the population that the original programs were designed to support.

We need to lobby for, support, and engage the public in a national debate about a topic which we thought was no longer debatable: That is, whether or not this society and its’ government must assure decent shelter, decent housing, and a decent environment for those who cannot support it solely on their own.

Everyone understands that there is always some inequity in life - some people will be wealthy and some will not - some people will be healthy and some will not - some will live in upscale condominiums and some will not.

However, I thought we were dedicated to the proposition that the preservation of our existing affordable housing stock, and the continuation of government programs to assure that we provide decent affordable housing, is an essential shared value of the compact between the government and it citizens.

Apparently, that commitment is dwindling and you and I cannot let that happen. With the lack of future government support for production, it is more important today that we preserve all the assisted and affordable housing in this country.

One idea would be to allow non-profits to use tax credits together with tax-exempt bonds … and encourage private developers and non-profits to use their independent resources together so that we do not lose any additional units in this muchly needed community.

More than ever before, if there is going to be a housing bubble, it is our job to make sure that it does not burst on those who can least endure the impact.

This award means so much to me because … even though I have been blessed with the opportunity to expand my company into many different areas … affordable housing has been the foundation of Related’s success and, to me, is the core of what I believe is necessary for the continued success of the American economy, the American dream, and the hopes we have for our future. What greater honor is there than to be honored by one’s peers.

As we finish this evening’s events, I think it is appropriate to be reminded of what President Kennedy said when he described the basic rights that Americans should enjoy. “Every American ought to have the right to live in an environment that is conducive to success, to have a home for his family, and to cherish both those conditions as a right and a privilege.”

Unless we embrace this mission and reinvigorate our efforts, we will live in a different society … one which is not conducive to success for any of us.

Thank you to the National Housing Conference for what you do … for what your organization stands for … and for reminding us that those who need a voice need active advocates … not just passive supporters.

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