The Seattle Office of the Mayor and the ACTION Campaign are circulating a sign-on letter to mayors nationwide, calling on Congress to include provisions that support the Housing Credit in the next COVID-19 response package. The letter highlights that COVID-19 has exacerbated the U.S. affordable rental housing crisis, as developments nationwide are now “threatened due to significant financing gaps caused by the cuts to federal borrowing rates made in response to the pandemic.” It requests immediate consideration of 1) enacting a minimum 4 percent Housing Credit rate; and 2) lowering the “50 percent test” Bond financing threshold for 4 percent Housing Credit developments. Mayor Durkan is asking fellow mayors to join her in this call for strong federal support of affordable housing.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing