ACTION Circulating Mayor Sign-on Letter

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.

Ask your mayor to sign onto the letter by COB Friday, May 22. Click here to read the letter and click here to sign-on.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.