● President Biden announced a final framework for the Build Back Better economic recovery package. The total amount has been negotiated down to $1.75 trillion from $3.5 trillion originally.
The framework includes $150 billion for affordable housing, which is significantly less than the $327 billion that was initially proposed. However, it’s still the single largest federal investment in quality, stable, affordable homes in the country’s history.
Housing investments include:
● $25 billion in rental assistance
● $65 billion to preserve public housing infrastructure
● $15 billion for the national Housing Trust Fund (HTF) targeted to serve extremely low-income households.
The plan is projected to build, preserve, and improve more than 1 million affordable rental and single-family homes.
There is no specific mention of LIHTC in the released materials, but the Coalition and other housing organizations continue to push for it’s inclusion in the final bill.
Advocates should continue outreach to their members of Congress to ensure the bill is passed.
North Carolina updates
● A budget deal between the governor and NC legislators could be reached any day now. Governor Cooper said there is agreement on the “vast majority” of the budget and House Speaker Tim Moore believes a compromise budget could be passed soon. If they can’t reach a deal this week, Speaker Moore is ready to move ahead with the legislature passing a budget: There’s common ground between Gov. Cooper and Republicans on the NC budget. Really. | News & Observer
● The NC Office of Recovery and Resiliency committed to funding more than 1,000 new, affordable housing units in regions of the state hit hard by hurricanes Matthew and Florence, including coastal North Carolina: State commits to 1,000 housing units in hurricane-hit areas | Carolina Coast Online
● NCHFA announced the availability of funds for it’s Supportive Housing Development Program (SHDP) under the 2022 funding cycle. Program Description and Site Visit Request Forms must be submitted by Friday, Jan. 21, 2022. Full applications are due Friday, March 4.
● Election Day polls are open for most municipalities today from 6:30 a.m. to 7:30 p.m.: Don’t forget: Local elections coming Tuesday | WRAL
● 14 community partners are working with the City of Greensboro’s Neighborhood Development Department to expand affordable housing options, including through a new housing preservation loan fund. ‘Affordable housing is at crisis levels’: Greensboro city leaders and local agencies partner to expand affordable houses options | Fox 8
● The City of Raleigh plans to use $12 million from the affordable housing bond to buy land or existing buildings for affordable housing in transit corridors. Raleigh to hire real estate firm to help build affordable housing | WRAL
● Webinar: Harvard University’s Joint Center for Housing Studies is hosting Covid, Race, and Housing Insecurity on Friday, Nov. 19 from 12:15-1:15 pm.
● Virtual event: Housing Solutions Lab is hosting a virtual panel discussion, Advancing Equity in Local Housing Planning: Learning from the Past to Promote a More Equitable Future on Tuesday, Nov. 9 at 12:00 pm.
● What’s in Biden’s compromise spending plan, and how will it affect North Carolina? | Raleigh N&O
● More than half in NC worry they can’t make housing payments, new poll finds | Raleigh N&O
● Henderson Co. nonprofit proposes affordable housing fund to build units more quickly | MY40
● Congress isn’t going to save the housing market | Vox
● How to Make Universal Vouchers Actually Work | Planetizen
● Billions in aid still available to struggling renters | CNBC
● Affordable housing is critical infrastructure — its funding doesn’t show it | The Hill
● Designing A Nationwide Downpayment Assistance Program: Lessons From Five International Case Studies | Harvard Joint Center for Housing Studies