Welcome

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Welcome!

• AFI Program Overview for Prospective
  ApplicantsTips for Writing a Winning AFI
  Application and Designing a Strong IDA Project

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Webinar Logistics

• If you have technical difficulties with hearing
  or viewing this presentation, please press 0 or
  contact
• Sierra Weaver
• 202-401-5295
• If you prefer to listen to the audio only
• Dial 1-888-390-4470
• Pass code AFI

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June Application Cycle

• Application Due date June 25th, 2008
• Received by 430 p.m. Eastern time

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Resources for Applicants

• Program webpage www.acf.hhs.gov/assetbuilding
• AFI Project Builder - Guide for Planning an AFI
  Project
• Program Announcement
• Webinars and Conference Calls
• AFI Resource Center
• Email afiprogram_at_acf.hhs.gov
• Call 202-401-4626

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Todays Agenda

• Key Features of Assets for Independence
• Tips from the Field
• Dan Kornelis, Director, Forsyth County Housing
  Department
• Sharon Henderson, New Mexico Assets Consortium
• Application procedure
• AFI Resource Center
• Questions / Answers / Discussion

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Assets for Independence Projects

• Five-year grants that enable low-income people
  to ...
• Learn about financial and consumer issues
• Save in Individual Development Accounts
• In order to
• acquire a home
• access higher education or training and/or
• start or support a small business
• save to transfer to a child or spouse

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IDAs -- Individual Development Accounts

• Special purpose matched savings accounts held in
  banks or credit unions.
• IDA participants deposit earned income regularly
  they accumulate savings in the IDA to acquire
  an economic asset.
• Participants receive financial education,
  asset-specific training, and coaching while they
  save.

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Characteristics of Effective AFI Grantees

• Have a mission of preventing poverty and
  improving family self-sufficiency
• Partner with others to ensure adequate
  programming in housing, micro-enterprise, or
  higher education
• Work closely with credit unions, banks or other
  financial institutions

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Fundamental AFI Services / Concepts

• Financial literacy education
• Asset-specific training
• Savings Plans
• Nonfederal funding
• Financial institution partner
• On-going monitoring and management

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Learn More Basics

• Participate on the May 29th Overview Webinar /
  Conference Call
• Listen to recordings of past webinars
• AFI Project Builder
• AFI webpage

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Hints / Tips / Suggestions from the Field
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Dan Kornelis

• Planning Stage
• Writing Stage
• General Hints and Tips

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Planning Stage

• How Does AFI/IDA Fit With Your Organizations
  Mission Statement ?
• Illustrate Experience Success in Wealth
  Building, Working with Low-Income Families,
  Economic Literacy Produce Organizational
  Overview, Resumes of Key Personnel

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Planning Stage (contd)

• Partner With Those With a Common Vision
• Include Partners Who Provide Added Value and Help
  you Complete Your AFI Mission Produce MOUs

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Planning Stage (contd)

• Identify and Gain Support of a Financial Partner
• Project Reserve Fund
• Participant Accounts
• Participant Loans for Asset Purchase
• Negotiate with financial partner in the early
  stages of developing the project
• Produce Financial institution partner agreement

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Writing Stage

• One Page Executive Summary
• Describe key elements of the proposal
• How Much
• Source of Nonfederal support
• IDA match rates,
• Persons to be served,
• Services to be offered,
• Asset types of the offered and purchased,
  Experience of Organization
• KEY Sell the Reader on Your Project and Your
  Capabilities

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Writing Stage (contd)

• Two Different Budgets Outlined
• Nonfederal and AFI Funds are outlined in 424A.
• Separate budget for five-year period adds other
  sources/uses of funds in addition to the
  nonfederal and funds.

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Writing Stage (contd)

• Use AFI Calculator
• A good tool for determining the number of people
  your project can serve.
• Use it to help you set goals, objectives and
  benchmarks.

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Korneliss Quick Tips

• Many people may contribute to the writing of the
  application but make one responsible for putting
  it all together and submitting to Washington.
• Using Adobe PDF will allow you to scan forms,
  provide proper pagination, and establish a Table
  of Contents that assures an application that is
  easy and enjoyable to read and comprehend.

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Korneliss Quick Tips (contd)

• If a consultant is used to write application,
  make sure you have plenty of time to read,
  understand, edit, and have buy-in before
  submitting to Washington.
• Make a list of each item requested in the program
  announcement. Then respond to each of them.
• Follow the points system provided in the program
  announcement. This will ensure that you do not
  overlook any key topics.

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Korneliss Quick Tips (contd)

• The attachments are important. They show you have
  considered all key elements and have established
  fundamental policies for administering a
  successful AFI/IDA project.
• Become familiar with the guidelines outlined in
  the program announcement and the Project Builder
  before you start writing the proposal. Give
  yourself plenty of time to write and then reflect
  on your end product.

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Sharon Henderson

• Two fundamental questions
• Is it do-able?
• Will the proposed plan use all award funds?

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Do-able?

• Who will we serve?
• Do we have the partnerships to meet all areas of
  need?
• Case Management
• Financial Education
• Credit rebuilding
• Preparing for asset purchase
• Data Management
• Other

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Do-able? (contd)

• Is the plan flexible?
• Is there room for monitoring and change?
• Is the timeline realistic
• See samples

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Use all funds?

• Do we already have potential savers?
• Can we minimize barriers to savings?
• Do we allow enough time to save?
• Do we have policies that allow lump sums?
• Are our policies flexible enough to allow savers
  to meet all program requirements?

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Use all funds? (cont)

• Can we complete start up activities in the first
  quarter?
• Will we end all savings periods a reasonable time
  before the end of the last project year?
• Do we have a plan to fill vacancies that allows
  enough time to save and be ready to purchase?

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Hendersons Hints

• Be brief and clear. AFI application reviewers are
  peers who know what has worked in the field, and
  what hasnt.
• If your organization has experience, state it.
  If there are things you know because of your
  experience, state these things clearly and use
  them to define your very specific target and need
  for IDAs.

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Hendersons Hints (contd)

• As you read the program announcement, make a note
  of everything it asks. Be careful to provide
  answers for each item. (See sample TOC)
• The AFI announcement includes links to web pages.
  Look at those web pages! For example, the
  information about the AFI Performance Management
  initiative.
• Know where you are getting your nonfederal
  contribution from. Document that information.

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Hendersons Hints (contd)

• Have a firm commitment from a financial
  institution even if the IDA agreement is not in
  place.
• Recognize that you must have additional
  nonfederal funding. Partnerships are key. Link
  with other programs your organization currently
  provides.
• Provide strong information on what your
  organization will do to ensure that each IDA
  saver will have the support they will need to
  save in their IDA and make the asset purchase.

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AFI Resource Center

• Application kits
• Advice / facilitation on planning a project,
  developing partnerships with community groups,
  establishing strong relationships with financial
  institutions, and so forth
• Tools for IDA projects, proven strategies, best
  practices
• Regular conference calls on IDAs and asset-
  building topics
• Listserv with helpful information

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Application Submission Process
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Application Submissions

• Up to 40 pages of narrative
• Attachments not counted in 40 pages
• Attachments include commitment letters, MOUs,
  required forms, any other documentation
• Please clearly number all pages and attachments

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Application Submission Information

• Due date June 25th, 2008
• Received by 430 p.m. Eastern time
• Submit either
• - electronically via Grants.gov or
• - in paper format
• Mail Address
• Office of Community Services Operations Center
• Assets for Independence Program
• 1515 Wilson Blvd, Suite 100
• Arlington, VA 22209
• Telephone [phone]

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Upcoming AFI Webinars

• Program Overview and How to Apply
• Thursday, May 29, 2008 200 315 p.m.
• Tips for Writing a Winning AFI Application and
  Designing a Strong IDA Project
• Tuesday, June 3, 2008 200 315 p.m.

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Previous AFI Webinars

• Available from the AFI Resource Center
• Call 202-401-4626
• Cost Sharing Non-Federal Funds
• AFI Project Design and Implementation (Part 1)
• AFI Project Design and Implementation (Part 2)

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• AFI Resource Center
• afiprogram_at_acf.hhs.gov
• [phone]
• www.acf.hhs.gov/assetbuilding