Michael Stegman, entrepreneurship professor and director of the UNC Kenan-Flagler Center for Community Capitalism at the Kenan Institute of Private Enterprise, testified before the U.S. Congress Feb. 15. Appearing before the House Government Reform Subcommittee on Federalism and the Census, Stegman spoke in the hearing entitled "Living in America: Is Our Public Housing System Up to the Challenges of the 21st Century?"

Stegman, who served in the administrations of both Presidents Carter and Clinton at the U.S. Department of Housing and Urban Development, addressed the following questions from the subcommittee:

1. What is the proper role(s) of federal, state and local governments in the public housing system?
2. How can the capital markets play in the system?

Stegman reiterated what he believes to be the critical role that public housing should play in the U.S. affordable housing system in the future. He also qualified that while pubic housing can and should continue to create links with capital markets, it still needs funding from the federal government.

Stegman will speak at the 2006 National Community Reinvestment Conference, sponsored by the federal bank and thrift regulatory agencies, in Las Vegas in March. This year's conference, "Winning Strategies for Community Development," looks at community development programs that build vibrant, diverse neighborhoods with strong economies.