The AHDC represents a first of its kind opportunity to create a national coalition that will represent the affordable housing developer industry on a defined set of public policy priorities set by the Founders Council of the AHDC. At this time those include, but are not limited to:
The Affordable Housing Credit Improvement Act of 2019 (S. 1703/H.R. 3077)
Senators Maria Cantwell (D- WA), Johnny Isakson (R-GA), Ron Wyden (D-OR), and Todd Young (R-IN) introduced (S. 1703) in June of 2019. Representatives Suzan DelBene (D- WA-1), Kenny Marchant (R-TX-24), Don Beyer (D-VA-8) and Jackie Walorski (R-IN-2) coincidently introduced (H.R. 3077) identical legislation in the House. The legislation would:
- Expand the annual Housing Credit allocation by 50 percent, phased in over five years. This would make a meaningful step towards addressing our nation’s vast and growing affordable housing needs by enabling the creation or preservation of up to 400,000 new affordable homes over the next decade.
- Make affordable housing financing more predictable and feasible by creating a permanent minimum 4 percent Housing Credit rate for acquisition and for Housing Bond-financed properties.
- Permit income averaging within Housing Credit properties in order to preserve rigorous targeting while providing more flexibility and responsiveness to local needs.
The legislation also adds numerous programmatic modifications that will further strengthen the Low-Income Housing Tax Credit by:
- Making Housing Credit properties in rural areas eligible for additional credits if needed for financial feasibility.
- Clarifying that the Housing Credit and Housing Bonds can be used to develop properties specifically for veterans and other special populations.
- Better align the Housing Credit with Violence Against Women Act protections.
Transportation, Housing & Urban Development Appropriations
Each year Congress seeks to pass the 12 appropriations bills that fund our government, including the appropriations for the Department of Housing & Urban Development, which along with the Department of Transportation is referred to as T-HUD. There are numerous funding programs within that Appropriations stream that our industry relies upon, including CDBG and HOME. The AHDC works closely with the Appropriators to ensure adequate funding for HUD and the important programs within it.
National Disaster Tax Relief Act of 2015(HR 3110/S 1795)
Community Reinvestment Act
Ensure that changes to the Community Reinvestment Act (CRA), which requires lending and investing in low and moderate income neighborhoods, do not endanger billions in affordable housing and community development investment. The Office of the Comptroller of the Currency (OCC) has already begun its process with the issuance of an advanced notice of proposed rule-making, but FDIC and the Federal Reserve are expected to eventually engage in an interagency process with OCC as well.
Federal investment in rural housing programs has dwindled over the past two decades, with little to no new funding for the development of new affordable housing in rural areas. The resulting trend of fewer affordable housing units is projected to be exacerbated over the next several decades by the predicted loss of hundreds of thousands of federally subsidized rental housing units. In addition, several issues surrounding affordable housing programs administered by the U.S. Department of Agriculture (USDA) threaten to displace rural residents and stymie the availability of affordable housing units in rural areas. One major concern is the expected effects of the projected growth of prepayment and maturation of Section 515 Rural Rental Housing Loans and Section 514 Farm Labor Housing Loans.
Government-Sponsored Enterprise (GSE) Reform
Ensure that affordable housing programs are protected in any potential action to reform the government-sponsored enterprises Fannie Mae and Freddie Mac. Specifically, it is critical that the multi-family market is preserved and that adequate funding for the Housing Trust Fund is provided.
Existing and new Member engagement and education
A large part of our advocacy work is in continually educating existing members, and reaching out and building relationships and educating new members on the need for affordable housing in the United States, understanding how that housing is financed and constructed, and understanding the economic multiplier effect that this building further brings to communities where construction is taking place. The AHDC is on the Hill constantly engaging and educating existing members and working closely with new member offices. This includes inviting members to visit their state and district new developments.
Davis-Bacon Wage Calculation
AHDC continues to engage the Administration (Department of Labor and HUD) on both the method of data collection that tabulates Davis-Bacon formula and the Davis-Bacon and Related Acts (DBRA) survey and calculation process, as well as when and how Davis-Bacon is applied to programs at HUD.
HUD published a Supplemental Program Notice in the Federal Register in December 2018 clarifying that “execution of a PBRA contract as a result of the conversion of Rent Supp, RAP, Mod Rehab, or Mod Rehab SRO contracts through RAD after the publication of this notice does not trigger Davis-Bacon prevailing wage requirements.” AHDC member Jeff Brodsky has been working diligently on the issue.