A pair of bills coming before Congress would impact the ability of states to finance affordable housing construction and preservation.
In a commentary piece in Route Fifty, Andrea Bell, executive director of Oregon Housing and Community Services, urges the quick passage of a proposed federal tax bill that would increase the Low-Income Housing Tax Credit by 12.5% and reduce the Private Activity Bond financing threshold.
According to Bell, the proposal would allow states like Oregon to finance more affordable housing construction. “The longer the current projects are delayed, the more they will be impacted by market forces that increase the cost of both up-front development and long-term operations.”
Bell claims that if the bill passes this year, Oregon could potentially double its affordable housing production. “In addition to supporting more construction,” Bell writes, “the Housing Credit is essential for taking care of existing housing stock. Preserving the conditions and livability of the affordable housing we invest in is how we take care of our community and steward a healthy economy.”
Read the full story: Commentary: Federal tax bill: What it could mean for affordable housing
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