Federal Update
President Issues Executive Order on Work Requirements
On April 10, President Trump released an executive order that directs federal agencies to consider ways to cut critical benefits. The executive order contains nine “Principles of Economic Mobility,” including imposing work requirements on recipients of government benefits programs. Work requirements often cut families off from the things that allow them to maintain existing jobs. For an analysis of the impact of work requirements, read NLIHC and the Urban Institute’s reports.
Local Update
High Point Housing Summit
The High Point Housing Coalition is sponsoring “Strengthening Our Community, We are Stronger Together” Bus Tour/Housing Summit on Thursday, April 26, 2018 from 8:00am-2:00pm. The Bus Tour/Housing Summit is an effort to bring awareness to the state of housing and other community issues affecting our citizens. It will showcase affordable housing efforts which have been completed, those in progress and others that are in the planning stage. Participants should pre-register by April 20, 2018 at robin.morgan@hosingconsultantsgroup.org or by phone (336) 553-0946, ext. 106.
Asheville Invests 2.4 Million in Affordable Housing
The Asheville City Council approved $2.4 million in loans on Tuesday to Workforce Homestead Inc. and Mountain Housing Opportunities Inc. Council voted 6-1 on a $1.8 million loan for Mountain Housing Opportunities’ Clingman Hilliard development, where sixty of the project’s units are reserved for residents earning less than 60 percent of the area’s median income. The other 20 units are slated to be market-rate apartments with office space on the property financed separately.The council unanimously approved a $600,000 loan for Workforce Homestead’s Amaranth Apartments, a 70-unit, multifamily development on a nearly six acre property near the Westridge Shopping Center. It is expected to be an all-affordable Low-Income Housing Tax Credit development serving “low to very low incomes.”
Charlotte Affordable Housing Fund
Mayor Vi Lyles announced that she wants to make Charlotte’s affordable housing fund 10 times larger by increasing it to $150 million.She’s asking the private sector to match $50 million and hopes that the faith and philanthropic community will match another $50 million. Lyles said she is asking the city manager to add it to budget discussions so the City Council can find a way to get this issue on the bond referendum in the fall.
Reports
Harvard Joint Center for Housing And Community Studies: What Would it Take for Housing Subsidies to Overcome Affordability Barriers to Inclusion in All Neighborhoods?
Urban Institute: What Fueled the Financial Crisis? An Analysis of the Performance of Purchase and Refinance Loans
