Now more than ever, the need for affordable housing is critical to support the many families where jobs have been lost and the uncertainty of the future remains daunting. As many of you are aware, in March of this year the Affordable Housing Credit Improvement Act (AHCIA, H.R. 3077) gained the support of more than half of the House of Representatives, with 221 members including 145 Democrats and 76 Republicans from 44 states. This legislation is projected to increase the supply of affordable rental housing by over 550,000 units over 10 years. Tremendous efforts continue on this front because the need not only continues but has grown.
Key provisions of AHCIA include the 4% lock, a 50% increase in housing credits over five years, tools to help hard-to-reach communities, and bond recycling. With the many pressing needs facing Congress, industry leaders continue to push for the passage of this legislation.
If you haven’t already done so, or are willing to do so again, take the time to familiarize yourself with AHCIA and reach out to your elected officials to urge their support. ACTION Campaign, which is a coalition of more than 2,300 groups, has excellent resources.
Enacting provisions of AHCIA, plus implementing the much needed time extensions due to COVID-19, are critical to the affordable housing industry to help it remain a pillar in support of those who need it most.
Hooker DeJong, Inc., (HDJ) is a leading national design firm providing architectural and engineering expertise to support the affordable housing industry (LIHTC) throughout the United States. HDJ’s diverse portfolio includes successful outcomes with adaptive reuse renovation, acquisition rehab, new construction, historic preservation and RAD. Contact HDJ to learn more about how we can support your affordable housing needs.