>>> HEY, THANK YOU FOR JOINING US FOR NEXT UP.

AS I SAID IN THE FIRST HALF, THERE ARE COUPLE OF INDIVIDUALS IN ST. LOUIS WHO GOT ATTENTION IN THE WASHINGTON POST FOR HER INNOVATE AND BRILLIANT STRATEGY TO CREATE AFFORDABLE HOUSING.

THEY ARE JOINING ME AS IS A WOMAN WHO LIVES IN ST. LOUIS, THAT'S TINA.

SHE IS JOINING OUR PANEL.

AND WE HAVE DONNA SMITH AND HER HUSBAND HOWARD SMITH.

WHO USED MARKET TAX CREDITS TO CREATE AFFORDABLE HOUSING PEOPLE IN THE INDUSTRY SAID COULD NEVER BE DONE.

IT IS HAPPENING IN 30 CITIES ACROSS THE COUNTRY.

REALLY GOOD NEWS ESPECIALLY WE NEED AFFORDABLE HOUSING.

WELCOME TO THE PANEL.

>> THANKS FOR HAVING ME.

>> THANK YOU.

>> MAYBE AN EXPLANATION FOR WHAT A NEW TAX CREDIT.

THAT'S NOT A HOUSEHOLD WORD.

ESPECIALLY FOR MY HOUSE.

>> THE TAX CREDITS WERE THE FEDERAL LEGISLATURE PASSED IT IN 2000 AND THE GOAL WAS TO INCENTIVIZE SUSTAINED IN LOW INCOME PEOPLE AND COMMUNITIES AND INVESTORS AND LARGE INVESTORS BUY AND THOSE FUNDS GO INTO THE TOTAL FUNDS THAT ARE USED FOR PROJECT TO SUBSIDIZE GAPS IN THE FUNDING.

>> AND YOU WENT TO ONE SYMPOSIUM AFTER ANOTHER AND SAYING THIS COULD BE DONE.

AND 400 MILLION AND A HALF A BILLION.

AND NO ONE WOULD STILL BELIEVE THAT YOU WERE DOING THIS.

>> IT IS TRUE.

WE HAVE A GREAT SUPPORT HERE IN ST. LOUIS, U.S. BANK, CDC WHERE YOUR WIFE RETIRED FROM.

THEY HAVE BEEN AN INCREDIBLE SUPPORT TO US INVESTING IN THE PROGRAM.

WE COULDN'T HAVE DONE IT WITHOUT THEM.

>> YOU WORK FOR HABITAT FOR HUMANITY, RIGHT?

THE HOUSE THAT SHE LIVES IN, SHE HELPED TO BUILD IT.

THIS IS YOUR IDEA BETWEEN THE FINANCIAL IDEA AND HABITAT FOR HUMANITY.

>> THAT'S HOW IT STARTED.

AND THE NEIGHBOR WORKS, AND HOUSING PARTNERSHIP NETWORK OUT OF BOSTON, AND THE HOUSING INVESTMENT TRUST.

>> NATIONAL HOUSING -- >> IN YOUR NEIGHBORHOOD, YOU ARE SEEING MORE AND MORE HOUSING COME UP OUT OF THE GROUND.

>> IT IS WONDERFUL TO SEE OTHER PEOPLE JUST ENTHUSIASM TO BUILD THEIR HOUSE.

WE ARE EXCITED LIKE THEY ARE.

THAT'S HOW YOU GET A COMMUNITY STARTED BECAUSE YOU KNOW YOUR NEIGHBOR BY HELPING OUT.

WE HEAR ABOUT ANOTHER PERSON AND CAN WE VOLUNTEER?

CAN WE COME IN TO HELP?

IT IS A GOOD FEELING TO BUILD YOUR OWN HOME.

>> HOW MUCH FINANCIAL INFORMATION DOES SOMEONE NEED TO GET INTO THE PROGRAM?

LIKE, IF SOMEONE SAID I WANT TO HELP BUILD A HOUSE AND BE A HOMEOWNER.

HOW MUCH MONEY DO YOU NEED TO GET INTO THE PROGRAM?

>> I DIDN'T NEED MUCH.

I NEEDED A THOUSAND DOLLARS.

A SWEET AND EQUITY PUT INTO IT.

THAT'S ABOUT IT.

>> IS THAT STILL TRUE NOW?

IF PEOPLE HAVE A THOUSAND DOLLARS, THEY CAN GET THIS OPPORTUNITY?

>> YEAH, OR EVEN LESS.

YEAH.

THE ONE THING ABOUT AFFORDABLE HOUSING, IS THAT THE NEED IS ENDLESS.

WE CAN -- WE HAVE AN ENDLESS PIPELINE AND DEMAND FOR WHAT WE PROVIDE.

AND JUST LIKE TINA GREW OUT OF HABITAT, IT WAS OUR FAMILY'S EXPERIENCE WITH HAVING, OR WORKING WITH PEOPLE WHO NEVER OWNED THEIR OWN HOUSE BEFORE.

THEIR WHOLE FAMILIES HADN'T OWNED THEIR OWN HOUSE BEFORE.

AND NOW THEY HAVE THE ABILITY TO CREATE GENERATIONAL WEALTH TO HELP THEIR FAMILIES THAT FAMILIES SHOULD DO, SEND THEIR KIDS TO SCHOOL, BE PREPARED FOR LIFE.

>> IT IS BETTER FOR A NEIGHBORHOOD TO HAVE HOMEOWNERS AS OPPOSED RENTERS WITH ALL DUE RESPECT TO RENTERS?

>> IN MY GENERATION, THAT IS COMING UP NOW, I WOULD RATHER SEE HOMEOWNERS.

YOU ARE WASTING A LOT OF MONEY.

IF YOU HAVE YOUR HOME, YOU CAN PASS IT DOWN TO YOUR CHILD, TO THE NEXT GENERATION.

IT IS A LOT OF TRADITION HAS BEEN BUILT IN THE HOME, FAMILY REUNIONS, THE KIDS GROWING UP.

THERE'S THE NEXT GENERATION.

THERE'S A LOT OF MEMORIES IN THOSE HOMES.

APARTMENT BUILDINGS, WE PUT A LOT OF MONEY IN IT.

WHAT I PUT DOWN WAS TOWARDS MY MORTGAGE.

IF I WAS IN AN APARTMENT BUILDING, I WOULD'VE PAYING MORE THAN MY MORTGAGE.

YOU COME OUT BETTER.

>> YOU HAVE BEEN IN YOUR HOME FOR 14 YEARS.

>> YEAH, OCTOBER THE 16.

>> YOU GOT IN BEFORE THE CREDITS PROGRAM CAME IN.

>> IT STARTED IN 2000.

THAT WAS 2008.

>> DO YOU HAVE A HUGE WAITING LIST OF PEOPLE WAITING TO GET INTO THE PROGRAM?

DO PEOPLE KNOW ABOUT THE PROGRAM?

>> I WAS GOING TO SAY, THERE ARE TWO PIECES HERE.

ONE IS THE HABITAT FOR HUMANITY PIECE AND THE OTHER THREE NATIONAL ORGANIZATIONS THAT WE WORK WITH THAT HAVE OTHER MEMBERS WHO ARE NOT HABITAT AFFILIATES BUT ARE WORKING IN THE DEVELOPMENT INDUSTRY.

SO, SOME OF THEIR MODELS MAY BE SLIGHTLY DIFFERENT.

WHEN YOU COMBINE ALL OF THEM, WE HAVE, YOU KNOW, OVER ONE HUNDRED PROJECTS IN OUR CURRENT PIPELINE.

WE HAVE DONE 500 PLUS ALREADY.

WE HAVE OVER 500 PROJECTS THAT BRINGS NEW HOUSES TO FRUITION.

ASSUMING ALL OF THE ORGANIZATIONS GET NEW MARKETS.

>> THREE THOUSAND, THAT'S A LOT OF HOMES, DONNA.

THE WASHINGTON POST POINTS OUT THAT IT IS AN EYE-DROPPER OF WHAT IS NEEDED.

>> ABSOLUTELY.

>> BECAUSE THE NEED FOR AFFORDABLE HOUSING IS A HUGE NEED.

WHAT IS THE PROBLEM?

IS THERE NOT ENOUGH OF THE PROGRAMS OUT THERE FOR THIS?

>> THAT WOULD BE OUR ANSWER.

GO AHEAD, DONNA.

>> YEAH.

I AGREE.

THAT'S PART IT.

PART OF IT IS THAT THE PROGRAM ISN'T PERMANENT YET.

FOLKS IN THE INDUSTRY ARE NERVOUS ABOUT DIVING INTO THIS THAT IS NEW OR INNOVATIVE, LIKE WHAT WE DO.

THERE'S THAT.

AND THEN, THERE'S JUST THE ASPECT OF WHAT YOU HAD MENTIONED BEFORE ABOUT PEOPLE ARE NERVOUS ABOUT DOING HOUSING WITH NEW MARKET TAX CREDITS EVEN THOUGH WE HAVE DONE THE MODELS SINCE 2008.

>> WHY ARE PEOPLE RELUCTANT?

>> WE HAVE BEEN AT THE CONFERENC CONFERENCES, AND THAT THE MODEL IS NOT OWNED BY US.

WE WANT EVERYONE TO USE IT.

THANK YOU TO THE POST.

IT IS THE MOST PUBLIC SPOTLIGHT THAT WE HAVE HAD ON OUR MODELS SINCE WE HAVE STARTED.

WE DON'T KNOW WHY.

WE WOULD LOVE FOR THERE TO BE -- IF WE HAD A WISH LIST, WHAT WE WOULD LOVE IS PERMANENT TAX CREDIT.

AND A CERTAIN PERCENTAGE OF THE NEW MARKETS NEED TO BE USED FOR AFFORDABLE HOUSING.

>> IN ST. LOUIS, WE HAVE SO MANY OLD BUILDINGS THAT ARE OLD HOMES THAT ARE FALLING APART.

THAT NEED TO BE BROUGHT UP TO CODE.

AND SOME PEOPLE SAY WE SHOULD JUST TEAR THEM DOWN AND OTHERS SAY TO REHAB THEM.

WHAT ARE YOUR THOUGHTS ON THAT?

DO YOU HELP PEOPLE LIKE REHAB OLD HOMES TOO?

OR DO YOU START FROM THE BEGINNING.

TINA, WAS YOUR HOME WAS NEW OR REHABBED?

>> MY HOME WAS NEW.

BUILT FROM THE FOUNDATION AND BUILT ALL THE WAY UP.

THE OLD HOMES, IT IS LIKE SLAPPING A BAND-AID ON THEM.

I DIDN'T KNOW NOTHING ABOUT THIS PROGRAM UNTIL MY HOUSE FLOODED.

AND SOMEONE SAYS TO ME IN MY EAR, CALL HABITAT FOR HUMANITY.

PEOPLE DON'T KNOW ABOUT THE PROGRAM AND THEY LEARN AND SIGN UP FOR IT.

A LOT OF BUILDINGS FALLING DOWN.

YOU KEEP TRYING TO REBUILD, IT IS LIKE ONE HUNDRED YEARS OLD.

WE NEED NEW BUILDINGS.

>> YOUR HOME STARTED OUT AS AN EMPTY LOT?

>> AN EMPTY LOT.

>> IS THAT A PROBLEM IN ST. LOUIS?

>> WE HAVE NOT SEEN IT BE A PROBLEM IN OTHER CITIES.

FOR INSTANCE, IN PITTSBURGH, WE WORK TO BUILD FOR SELL UNITS.

WHAT THEY WILL DO IS BUILD BRAND NEW CONSTRUCTION THAT HAS THE LARGER MARGINS TO SUBSIDIZE THE SMALLER MARGIN THAT IS BELOW -- THERE ARE PROGRAMS LIKE THAT WE HAVE LEARNED FROM.

WE DON'T HAVE A LOT OF THE DEVELOPERS IN OUR CITY.

WE COULD USE MORE.

PART OF IT IS BECAUSE WE HAVE GREAT RENTAL PRODUCERS, GREAT AFFORDABLE RENTAL PRODUCERS HERE.

AND THAT'S BEEN THE SWAY OF THE MOMENTUM.

WE COULDN'T, YOU KNOW, WE COULDN'T EXIST WITHOUT THOSE PEOPLE AS WELL.

>> WE DON'T HAVE, WE HAVE A SMALL NUMBER OF FOR SALE IN ST. LOUIS.

>> IN ST. LOUIS.

>> DO WE NEED DEVELOPERS TO STEP FORWARD HERE LIKE IN PITTSBURGH?

>> WE DO THE SCATTERED SITE ACQUISITION AND REHAB ARE NONPROFITS.

IN ORDER TO USE OUR MODEL AND TO USE THE NEW MARKET TAX CREDITS EFFECTIVELY, YOU WANT TO HAVE A NONPROFIT.

AS A RESULT, WE DON'T HAVE THAT MANY NONPROFITS IN ST. LOUIS THAT DO THE AFFORDABLE HOUSING.

>> THAT'S SOMETHING THE REGION NEEDS.

>> OKAY.

>> YOUR WORDS, NOT MINE.

>> I AGREE.

>> ARE PEOPLE SURPRISED WHEN THEY SAY YOU ARE IN A NEW HOUSE.

AND JEFF, WHO IS IN THE NEWS A LOT, BUT NOT FOR NEW CONSTRUCTION, RIGHT?

>> RIGHT.

>> IF I GO TO JEFF, I WILL SEE ONE NEW HOME AFTER ANOTHER BECAUSE OF THIS PROGRAM?

>> YES, ESPECIALLY ON MY STREET.

WE ALL TRY TO SAY, WHAT ARE YOU GOING TO PUT UP FOR THE HOLIDAY.

A LOT OF PEOPLE COME OVER FOR THE HOLIDAY.

CHANNEL 2 RAN US ON THE NEWS.

THE MOST LIGHTS ON, MOST POPULAR STREET.

IT WAS A BLESSING TOGETHER.

I THANK GOD OUR NEIGHBORS COME TOGETHER AND IT SPREAD FROM ONE NEIGHBORHOOD TO ANOTHER NEIGHBORHOOD.

OTHER HABITAT HOUSES.

IT IS WONDERFUL TO HAVE A NEW HOME.

WHEN THEY COME DOWN -- YES, WE LIKE HOW WE DO THE GARDENS.

OUT THERE GETTING ALONG WITH EACH OTHER.

IT IS A BLAST.

>> WHEN FRIENDS OF YOURS SAY THIS IS A GREAT IDEA.

YOU CAN GET IN IT WITHOUT A LOT OF MONEY.

ARE THEY ABLE TO ACCESS THIS PROGRAM?

>> YES, THEY ARE.

>> OKAY.

THERE'S ENOUGH EMPTY LOTS IN THE CITY?

>> THERE'S PLENTY.

>> AND IT IS SCATTERED SITE.

>> WELL -- >> COUPLE HERE.

>> IT VARIES.

YOURS IS YOUR WHOLE STREET, AT LEAST A BLOCK RIGHT?

I'M TRYING TO REMEMBER.

>> WE HAVE THREE BLOCKS.

TWO LONGS AND A HALF.

SO IT IS LIKE ON BOTH SIDES.

DIFFERENT SHAPES.

DIFFERENT MODELS.

>> IT IS POSSIBLE TO DO THIS IN SUBURBS?

DOES IT HAVE TO BE IN THE CITY?

>> IT DOESN'T HAVE TO BE IN THE CITY, IN ORDER TO USE THE TAX CREDITS, IT HAS TO BE IN A QUALIFIED CENSUS TRACT.

IT HAS TO BE IN THE POVERTY AREA.

>> IS THERE A DOWNSIDE TO THAT BECAUSE IT PREVENTS THAT HOUSING TO BE BUILT IN SCHOOL DISTRICTS THAT HAVE HIGHER ACCREDITATIONS?

>> THAT'S AN INTERESTING QUESTION.

PART OF WHAT YOU DEAL WITH FEDERAL GOVERNMENT, STATE LEGISLATION, LEGISLATURES FOCUS ON ONE OR TWO PROBLEMS AND WORK TO SOLVE THAT.

IN THIS CASE, A BIG A PART OF THIS IS LOW INCOME COMMUNITIES, AS WELL AS TO GIVE LOW INCOME PEOPLE OPPORTUNITIES FOR JOBS AND HOUSING, ETC.

THE FOCUS IS NOT ON WHAT YOU TALK ABOUT.

IS THERE SOMETHING THAT SHOULD BE FOCUSED ON THAT?

ABSOLUTELY.

>> AT THE SAME TIME, THE EXISTENCE OF OWNER OCCUPIED HOMES JUST CAN'T COMPARE TO, YOU KNOW, RENTAL HOMES.

WHEN IT COMES TO CREATING THE COMMUNITY THAT WE WANT TO HAVE SUPPORT OUR LOCAL SCHOOLS.

BEING SO IMMERSED IN THIS, WE SEE THE STATISTICS THAT SUPPORT THAT CONCLUSION THAT THOSE COMMUNITIES ARE HEALTHIER.

THE ONES THAT OWN THEIR OWN HOME AND THE PRIDE IN THE COMMUNITY.

OUR HABITAT HERE, THEY REGULARLY PUT IN PLACE AN ADDITIONAL CREW, WE ARE DOING HOMEBUILDING.

THE NEIGHBORS WANT TO EXPERIENCE THE UPLIFT AS WELL.

WE HAVE A CREW TAG ALONG WITH THE MAIN CREWS TO WORK WITH THE NEIGHBORS TO HELP REPAIR THEIR HOMES.

IT REALLY BRINGS -- IT IS THE REFLECTION AND GREAT METAPHOR.

>> IT HELPS EDUCATIONAL OUTCOMES.

IN HOME OWNERSHIP.

I HAVE TONS OF DATA.

I WOULD BE HAPPY TO SHARE WITH ANYBODY ABOUT HOW THE HOMEOWNER'S CHILDREN DO BETTER THIS SCHOOL, THEY GRADUATE HIGH SCHOOL, OFTEN GO ON TO COLLEGE, LIKE YOUR SON WHO IS A CIVIL ENGINEER.

THE OUTCOMES ARE MUCH BETTER.

>> YEAH.

>> IT DOES HAVE AN AFFECT ON EDUCATION IN POSITIVE WAYS ESPECIALLY WHEN YOU BUILD A WHOLE COMMUNITY THAT DEMANDS IT.

>> CRIME HAS GONE WAY DOWN.

>> YES.

EVERY ONE OF OUR KIDS GRADUATED FROM HIGH SCHOOL.

THEY THEN GRADUATED FROM COLLEGE.

THEY ALL HAVE NICE JOBS.

THE LAST ONE GRADUATED THIS YEAR.

HE WORKS AT -- AND ANOTHER ONE IS A CIVIL ENGINEER.

I'M IN COLLEGE TO BE A CHEF.

>> CONGRATULATIONS!

>> WHEN YOU WORK WITH THE COMMUNITY AND THE WAY WE BUILT THE HOUSE, IT IS LIKE A FAMILY.

YOU KNOW.

YOU BUILT A WHOLE NEW FAMILY.

>> I SAW STATISTIC THAT CRIME IS DOWN 50 PERCENT.

>> YES, IT IS.

>> THAT'S REMARKABLE.

>> DO YOU THINK IT IS BECAUSE OF THE FACT THAT THERE ARE MORE HOMEOWNERS THERE THAN PREVIOUSLY?

>> YES, IT IS.

EVEN THE ONES THAT ARE IN THE APARTMENT BUILDING, THEY WANT TO COME OVER AND ASK HOW THEY CAN GET ONE.

SOMEBODY ASKED ME AND I LET THEM KNOW WHAT TO DO IN ORDER TO BUILD A HOUSE.

>> NOW, THE CITY IS FLUSH WITH MONEY FOR THE FIRST TIME EVER, AS WELL AS THE STATE.

WITH THE PROGRAM LIKE YOURS THAT SEEMS TO BE WORKING AND DOING SO WELL, IS THE CITY OR THE STATE SAID, HEY, WE WOULD LIKE TO HELP PUSH THIS THING AHEAD HARD?

>> WE ARE WORKING WITH THE CITY RIGHT NOW.

THEY HAVE BEEN GREAT.

WE HAVE BEEN WORKING WAY BEFORE THE WASHINGTON POST ARTICLE CAME OUT TO DO THE THINGS WE TALKED ABOUT.

WE ARE EXCITED TO WORK IN ST. LOUIS.

WE ONLY WORKED THERE WITH THE LOCAL HABITAT.

WE HAVE DONE 7 TRANSACTIONS WITH OUR LOCAL HABITAT MORE THAN ANY OTHER.

NOW WE ARE WORK WITH THE CITY AND TRYING TO PUT IN PLACE AN EVER-GREEN LAWN FUND THAT WOULD BE EVERGREEN.

IT IS BASED ON OUR MODEL AND ONE WE DEVELOP FOR HABITAT TO HELP THEM OUT WITH CONSEQUENCES FROM DONE FRANK.

ESPECIALLY WITH A SHORT PERIOD OF TIME TO DISCUSS IT.

>> ARE THERE PLENTY OF INVESTORS?

>> THERE ARE, AGAIN, FOR OWNERSHIP, U.S. BANK, CDC IS OUR PARTNER WITHIN HUNDREDS OF TRANSACTIONS AND WE ARE CHIPPING AWAY THAT OTHERS INVESTORS.

IT IS THE SAME QUESTION THAT WE STARTED WITH AT THE BEGINNING.

IT IS NEW AND SCARY.

>> WE NEED FOR NONPROFIT IN ADDITION TO HABITAT FOR HUMANITY.

IN 30 CITIES YOU ARE DOING THIS WITH THE NONPROFITS.

THAT'S WHAT THE TAX CREDITS.

ANY OF THE 501(C)(3) EXPANDING TO ST. LOUIS?

>> I THINK WE HAVE THE TALENT TO GROW THOSE SKILL SETS.

WE ARE THE ONLY TOOL OUT THERE ON A FEDERAL LEVEL THAT PROVIDES A STIMULUS TO CREATE FOR SALE AFFORDABLE HOUSING.

AS A RESULT, WE HAVE BEEN GETTING A LOT OF ATTENTION.

WE JUST NEED TO WORK WITH THE IT IS CALLED A CDFI HERE IN ST. LOUIS, A NOT-FOR-PROFIT BANK, WHO WILL TAKE A LEADERSHIP ROLE AND THE BANKABLE AND NON BANKABLE, AND TAKING THE LEAD ROLE IN THE HOUSING WHICH THE CDFI'S DO ACROSS THE COUNTRY.

THEIR HOMEOWNERS WILL PICK CHERRIES IN MICHIGAN OVER THE SUMMER AND THEY WON'T PAY THEIR MORTGAGE UNTIL THEY GET BACK.

AND THEY'LL COME CURRENT.

IT IS THAT KIND OF SERVICE.

THE GEORGE BAILEY SAVINGS AND LOAN YOU SEE IN THE WONDERFUL LIFE WHERE THE FABRIC OF THE COMMUNITY IN GREATER THAN THE SUM OF THE WHOLE.

AND THE BANKS REALLY PROVIDE A SERVICE.

AS OPPOSED TO OPENING ON ENVELOPE.

>> IT IS INCREDIBLE.

>> YOU KNOW, PEOPLE ARE LISTENING TO THIS AND SAYING, THIS IS JUST TOO GOOD TO BE TRUE.

HOW IT IS POSSIBLE TO ST. LOUIS FOLKS ARE LEADING THE CHARGE WITH THIS PROGRAM AND NOBODY KNEW ABOUT IT.

WITH ALL DUE RESPECT, YOU ARE NOT THE NEWSPAPER.

IT WAS NOT A LOCAL RADIO STATION THAT DISCOVERED WHAT YOU ARE DOING.

[LAUGHTER.]

>> IT WAS HAPPENSTANCE.

WITHIN THE MARKET, WHICH IS ITS OWN LITTLE INDUSTRY OF NERDS.

WE ARE SOMEWHAT KNOWN MAINLY BECAUSE WE GO UP AND SAY WAIT, YOU CAN DO HOUSING WITH IT.

AND SO, WE ARE SOMEWHAT KNOWN.

IF YOU START GOOGLING THINGS AND YOU ARE IN THE INDUSTRY OR A DEVELOPER, YOU WILL FIND US.

WE GET CONTACTED A LOT BECAUSE OF THAT.

THERE'S NOT A LOT OF PRESS ABOUT US.

I DON'T REALLY -- I DON'T THINK BEING IN THE SPOTLIGHT.

>> WE ARE UNDER THE RADAR.

WHICH IS PART OF THE PROBLEM TOO.

WE NEED TO BE MORE OUT THERE.

>> JUST SO I CAN UNDERSTAND THIS.

IF SOMEONE IS WATCHING THIS AND SAYING I NEED A HOUSE BUT I CAN'T AFFORD IT.

THEY CAN CALL AND ENROLL IN THE PROGRAM?

YOU HAVE NOT A WAITING LIST?

>> THERE ARE WAITING LISTS.

>> THERE IS A WAITING LIST.

IT IS NOT THAT LONG.

THEY TELL YOU THE FIRST QUARTER OF THE YEAR, THEY WANT YOU TO HURRY UP AND PUT IN.

AND ONCE YOU PUT IN, THAT'S WHAT THE FLOW START GOING.

IT TOOK ME, LIKE, MAYBE THREE WEEKS WHEN I SIGNED UP.

I WAS OUT IN FERGUSON AND IT FLOODED BAD.

IT IS THAT EASY?

YES.

IT IS THAT EASY TO APPLY.

>> YOU HELPED TO BUILD YOUR HOME.

>> YES, I DID.

>> HOW LONG DID IT TAKE FROM THE START OF THE CONSTRUCTION UNTIL YOU WERE LIVING IN IT?

>> IT TOOK THREE AND A HALF MONTHS.

[LAUGHTER.]

>> YOU DID A LOT OF THE SWEAT WORK.

>> YES.

>> AND ELECTRIC, PLUMBERS.

>> VOLUNTEERS, OVER 60.

>> JUST TO BE CLEAR, IF PEOPLE WANT MORE INFORMATION, DO THEY GO TO HABITAT HUMANITY?

>> YES, THEY DO.

HABITAT FOR HUMANITY ST. LOUIS.

>> YEAH.

>> AT THE END OF THE DAY, YOU HAVE EQUITY IN THAT HOME.

YES!

[LAUGHTER.]

>> YES.

MY HOME.

YOU SELL IT, YOU GET IT.

>> IF YOU ARE A RENTER, YOU DON'T HAVE TO PAY FOR REPAIRS, GENERALLY.

YOU ARE A HOMEOWNER, YOU SELL IT, YOU GET THE PROFIT.

>> YES.

BUT I DON'T PLAN ON SELLING IT.

>> 18.3 MILLION DOLLARS IN SO MANY HOUSE AND IT WAS 177 THOUSAND DOLLARS A HOME.

>> TO CONSTRUCT.

>> TO CONSTRUCT.

AND THE OWNER PICKS UP THE MORTGAGE FOR 177 THOUSAND.

>> THE PURCHASE PRICE CHANGES THROUGHOUT THE YEARS.

BUT, ONE THING THAT WE DO WANT TO POINT OUT, THE MOST OF THE LABOR IS BY VOLUNTEERS.

EVEN WHEN THE TRADES COME IN.

HABITAT IS ABLE TO GET TO THE LOWER, YOU KNOW, COSTS BY HAVING VOLUNTEERS.

BUT THAT PLAYS A DUAL ROLE.

BECAUSE, YOU KNOW, HAD WE NOT BEEN INVOLVED WITH HABITAT TO WORK WITH SOMEONE TO BUILD THE HOMES, WE WOULDN'T HAVE FOUND OUT ABOUT THE LACK OF AFFORDABLE HOUSING.

WE ARE IN THIS COMMUNITY TOGETHER.

WE ARE ALL NEIGHBORS.

BY WORKING IN THE SAME COMMUNITY, WE BECOME THAT MUCH CLOSER ON THOSE LEVELS.

IT PLAYS TWO ROLES.

AND IT IS NOT UNUSUAL FOR THAT TO OCCUR.

>> RIGHT.

>> THE UNFORGIVING CLOCK SAYS WE HAVE TO THANK YOU FOR YOUR TIME.

>> THANK YOU.

>> TINA, THANK YOU SO MUCH.

>> DONNA, HOWARD, WE APPRECIATE THE WORK.

IT IS SO EXCITING.

>> THANK YOU SO MUCH.

>> YOU CAN GET A CONNECTION TO THE SONG FOR TRUDY BUSCH.

>> THANK YOU SO MUCH.