PRESERVE AND DEVELOP THE AFFORDABLE HOUSING STOCK
NAHRO’s members work hard to provide safe, affordable housing for families, elderly households, and persons with disabilities. The nation faces severe housing problems including skyrocketing rents, increasing housing inflation, and a lack of supply. This makes it increasingly difficult for families to find an affordable home. Congress must lower these housing costs by making significant investments in the nation’s housing stock to meet the growing demand for more affordable housing. Existing housing developments must be preserved to safeguard deeply affordable housing units for future generations. This requires ensuring that all housing is resilient, sustainable, and secure. This also requires improvements to LIHTC so more housing and redevelopment agencies can use this critical resource.
- Provide at least $70 billion in funding to fill the Public Housing Capital Fund backlog.
- Fully fund the Public Housing Capital and Operating Funds annually.
- Maximize existing housing preservation and redevelopment by making repositioning options (Rental Assistance Demonstration, Section 18, Voluntary Conversion) available to all public housing agencies (PHAs) that voluntarily want to use them.
- Strengthen the Low-Income Housing Tax Credit (LIHTC) by increasing the annual per capita allocation by 50%, promote public housing preservation bonds that are excluded from the overall cap, and reduce the private activity bond test to 25% for the 4% Tax Credit.
- Ensure any new affordable housing development considers equity and inclusion in its design.
- Provide funding for climate-resilient approaches to development and finance.
- Expand funding for the Community Development Block Grant, HOME Investment Partnerships Program, and Homeless Assistance Grants.