- In Congress, the House passed the Infrastructure Investment and Jobs Act on Friday, including historic investments in highway programs, bridge replacement, public transportation, electric vehicles and broadband internet.
Up to this point, the infrastructure package had been held up in the House as Democrats worked to pass it in conjunction with Build Back Better. Build Back Better did not advance with the infrastructure package. However, the House approved rules for its debate and called for a vote the week of November 15.
Prior to the infrastructure vote, the House Rules Committee released amended text for the Build Back Better Act which includes expanded LIHTC provisions that were originally part of the Affordable Housing Credit Improvement Act:
- Lowering the 50% test bond financing threshold to 25 percent for five years, from 2022 – 2026;
- A Housing Credit allocation increase of 10% plus inflation for each of the three years from 2022 – 2024; and
- A permanent 50% basis boost for properties serving extremely low-income tenants, and an 8% minimum set-aside for ELI properties.
The revised text also includes priorities from the Neighborhood Homes Investment Act (NHIA) that would create new tax credits for investments that build or rehabilitate owner-occupied homes in distressed communities.
These new inclusions are a direct result of your hard work and advocacy. Negotiations are not final yet so advocates should continue contacting members of Congress to ensure the bill is passed with these provisions included.
North Carolina updates
- General Assembly leaders have indicated that they are not close to a deal with the Governor on a budget yet. It’s looking like the legislature could move forward with passing a budget on their own for Governor Cooper to sign or veto. Medicaid expansion is one of the hang ups. Senator Berger has said he’s willing to consider Medicaid expansion as part of the deal, but there doesn’t appear to be enough support for it to be included in the final version. Other areas of continued negotiations include some spending levels and the tax package.
- State House and Senate lawmakers voted along party lines to approve new legislative and congressional district maps. Redistricting occurs every decade to account for changes in population. The new maps will be used for the 2022 election.
- Webinar: NLIHC and the Public and Affordable Housing Research Corporation (PAHRC) are hosting Affordable Housing Preservation Trends and Federal Policy Solutions on Wednesday, Nov. 10 from 2:00-3:00 pm. The webinar will present findings from the 2021 Picture of Preservation Report and discuss implications for policy with a focus on the “Build Back Better Act.”
- Zillow is ditching its home-flipping business. Here’s what that means for the Triangle | News & Observer
- Democrats are seeking largest ever investment in affordable housing | NPR WUNC
- With Cases Piling Up, an Eviction Crisis Unfolds Step by Step | NY Times
- ‘Rent’s too damn high’ Former City Councilman says Charlotte is no longer affordable | WCNC Charlotte
- The Triangle’s Municipalities Can Address the Regions Dwindling Stock of Affordable Housing—If They Act Quickly and Decisively | Indy Week
- No racial bias found in Durham Co. property tax assessments, but there are disparities | News & Observer
- Inclusionary and Incentive Zoning in the Six New England States | Joint Center for Housing Studies of Harvard University
- Here’s What Happens When Residents Buy Their Neighborhood | Next City
- Black Homeownership Trends in Small and Midsize Cities | Housing Solutions Lab