| The cuts and changes directed by the current administration and the journey of the federal budget affects us all, whether as individuals or as in our case a nonprofit organization. The bumpy uncertainty has left many with feelings ranging from discouragement to dismissal.
Though our financing for development and operating is widely varied and highly diversified, People’s Self-Help Housing relies on numerous sources of federal funding, and decisions being made today will affect our work. The federal sources most affecting our work include funding from Congress through the US Department of Housing and Urban Development (HUD) and US Department of Agriculture Rural Development (USDA RD). It remains to be seen how extensively the current directives may negatively impact new affordable housing production.
Fortunately, for both our organization’s financial sustainability and for those in crisis and awaiting new affordable housing opportunities, within the next 2-3 years we have resources already in place to keep several projects in construction, to see them through to completion. For the longer term, and in order to keep the affordable housing crisis from getting much worse, we genuinely need the federal Low Income Housing Tax Credit (LIHTC) program to remain viable and improved to do more in the future. The LIHTC program is routinely described by experts as “the most important resource for creating affordable housing in the United States today.” So far, there have been no attacks on this program, perhaps thanks to the long successful track record and bipartisan support it has enjoyed virtually since its origin. The 1986 Reagan Tax Reform Act initiated it, and its successes have multiplied ever since. While there is plenty of what divides us as a nation, hopefully we can come together to advocate for keeping the LIHTC program intact and thriving.
Please be assured that in partnership with our esteemed colleagues in the housing community across the nation, we are staying informed and engaged, and making our voice heard to both our federal and state elected officials. We encourage you to voice your support too wherever and however you can. This newsletter The Blueprint is a great resource to learn more about what is happening to housing, please share widely with your networks, and we continue to thank you for your advocacy. |
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