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Housing Call: August 9, 2022

Federal updates

  • The latest budget reconciliation package, called the Inflation Reduction Act of 2022, passed the Senate over the weekend on a party line vote. The package is scaled back from what leadership initially hoped, focusing on climate change, reducing drug costs and taxes for large corporations. However, Democrats are celebrating it as a win ahead of midterm elections. The package heads to the House next where lawmakers are expected to return from recess to vote on Friday.

This package is significantly reduced from last year’s Build Back Better Act and does not include the much-needed housing investments that were originally proposed. The Inflation Reduction Act does include $1 billion for affordable housing energy upgrades, but excludes public housing as an eligible use of funds.

  • The White House and U.S. Department of Treasury hosted a summit on Building Lasting Eviction Prevention Reform last week. Agenda topics included models of reform at all levels of government, progress under the American Rescue Plan, and how to use the remaining ERA & State/Local Fiscal Recovery Funds. Summit participants included Eviction Lab Founder Matthew Desmond, state Supreme Court justices, and national, state, and local leaders.
  • Last week, HUD announced that it will provide $2.8 billion in competitive funding to homeless services organizations across the country for supportive services and housing programs. The funding will be awarded through HUD’s Continuum of Care Program.
  • The Senate Committee on Banking, Housing, and Urban Affairs held a hearing on affordable housing last week called, “‘The Rent Eats First:’ How Renters and Communities are Impacted by Today’s Housing Market.” NLIHC and other housing advocates testified at the hearing. A video of the hearing is available here, as well as testimony from various speakers.


State updates

  • In Wilmington, the recently updated Treasury guidance is making it easier for an affordable housing project to obtain financing. The proposed project, Starway Village, aims to provide workforce housing in Wilmington for residents that earn between $27,000 and $47,000 per year. Now that Treasury policy allows long term loans for LIHTC projects, Starway Village can secure the financing needed to move forward with the project: S. Treasury changes ARPA guidelines, clears path for Starway Village loans | Port City Daily
  • The City of Raleigh held an Affordable Housing Open House over the weekend to provide information about housing programs and resources. More than 1,100 attended the event. City staff provided information about affordable rental housing, down payment assistance, home repairs, neighborhood revitalization, etc.: 1,100 show up as Raleigh holds affordable housing event | CBS 17
  • Roof Above, a Charlotte nonprofit, is transforming a former hotel space into apartments to combat homelessness in Mecklenburg County. The building was previously a Quality Inn Hotel and now has 88 studio apartments for people experiencing chronic homelessness. It’s considered Charlotte’s first adaptive reuse, permanent supportive housing solution: Nonprofit turns former Charlotte hotel into housing for homeless | Spectrum News 1
  • Mountain Housing Opportunities (MHO) and the Housing Authority of the City of Asheville partnered with Pisgah Energy and Eagle Solar & Light to power four apartment buildings with solar energy. These buildings now have a total of 425 solar panels that will augment their power. Asheville Housing has invested more than $10 million in energy efficiency improvements in its communities over the last 15 years, but this is the first major solar initiative: Mountain Housing Opportunities and the Asheville Housing Authority Energize Four New Solar Arrays at Maple Crest at Lee Walker Heights | PV Magazine


Reports, events, resources

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Housing Call: August 2, 2022

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