Attending the meeting with Bush were MBA president Andrew Woodward, chairman of Bank of America Mortgage; MBA president-elect James Murphy, chairman and CEO of New England Realty Resources; Tom Jacob, chairman and CEO of Chase Manhattan Mortgage Corp.; Shekar Narasimhan, managing director of Prudential Mortgage Capital Co.; and Jonathan Kempner, president of the National Multi Housing Council.

Woodward and other mortgage company leaders are part of a new group of mayors and business leaders called the Council for Investment in the New American City. The council also shared with the president the findings of a new survey of small businesses that show strong support for increased government investment in cities' overall development, including housing, transportation, skills training and crime prevention.

"There was a free-flowing exchange of ideas about how we can work together to extend assistance for housing opportunities, strengthen local economies and build healthy communities across the country," says Woodward. The new council is composed of the US Conference of Mayors, MBA, Countrywide Home Loans, Citigroup, American Management Services, US Filter, Freddie Mac and Fannie Mae.

Woodward says the poll findings encouraged him. "It proves that America's cities are coming back not only as safe and vibrant places to live, but also, as safe and viable places for businesses to do business," he says.

Highlights of the poll include findings that more than 63% believe their short-term economic outlook is positive and about the same number are also confident of their two- and five-year economic outlook. Most optimistic were women and businesses in the South and in the service sector.

Other poll results: 66% believe their city is an economically stronger, safer and more exciting place to live and do business than five years ago; 60% said the Gederal Government should play a more active role in encouraging home ownership, while 54% said the cost of housing had gotten worse in their business neighborhood during the past five years; and when given a choice whether to further develop cities or open spaces, 42% supported development in the available spaces in the Downtown areas of cities, while 24% supported outward development.

The poll's telephone survey was conducted from March 21-27, among 500 small business owners. The margin of error at the 95% confidence level is 4.4%, according to the MBA.