Aboubacar Ndiaye’s Post

In City Limits, Adolfo Carrión Jr., commissioner of the New York City Department of Housing Preservation and Development, and Eric Enderlin, president of the New York City Housing Development Corporation, penned an op-ed on the dire need for more housing. They cited the Low Income Housing Tax Credit (#LIHTC) program as a critical tool for financing the development of affordable homes. One additional tool that we should consider is the New Market Tax Credit (#NMTC) program. By leveraging NMTCs for affordable for-sale housing, we can continue to support the proliferation of homes—and work to mitigate the ongoing impact of the housing crisis. Read more here in City Limits and click the link in the comments to learn more about NMTCs and affordable housing: https://lnkd.in/gZTGcWWN #housingshortage #housingsupply

I have been sad (and mostly furious) all week about the heartbreaking decision to remove RM4 from the November ballot. As a reminder, seniors are now the fastest growing homeless population, people with disabilities and foster youth have always been disproportionately represented among the homeless but we still don't have a stable, long-term funding solution for affordable housing – this decades old housing crisis REQUIRES a bold initiative, bold investments and a regional commitment to creating housing for all income levels. RM4, or the BAHFA bond, is/was the closest we got to that - a collaborative and innovative initiative has been in the works for YEARS. A multi-sector effort has been meticulously building up buy-in across 9 counties, dozens of cities, hundreds of organizations and thousands of advocates, activists, and residents. An effort that would not just fund new affordable rentals, but existing preservation, affordable home ownership, and eviction protections – I cannot overstate just how CRITICAL this funding was for CBO’s, developers, cities, and agencies. The State housing funding has been gutted, nonprofit agencies are scaling back their projects and yet cities are scrambling to solve a state housing crisis locally with a fraction of the funding needed. But in an all too familiar plot twist, a small number of well-resourced residents, have fought to disenfranchise thousands of voters, with zero accountability. What is the price tag that comes with further entrenching a spiraling housing crisis? What are the human, family, and community costs? I wonder how many of the opposition are renters, living on a fixed income, or have experienced housing instability?  Because that’s who I’m fighting for – not the status quo or privileged position as a homeowner - our fight is bigger than ourselves, always was and will always need to be. I will always be ready to jump in this ring again, but in the meantime, put all this sadness, rage and commitment towards Prop 5 – here’s to allowing a simple majority on affordable housing & infrastructure bonds, rather than giving the minority an oversized veto power. In the meantime, please hug your affordable housing friend – they need it. 

The Governor’s plan to boost housing development in New York includes incentivizing municipalities to opt into the state’s recently created Pro-Housing Community Program certification. In order to receive such certification, municipalities must show commitment to increasing their housing stock and identifying impediments to housing growth. Only municipalities that receive the Pro-Housing certification would be eligible for certain state funding from a cumulative allotment of up to $650 million.   The Governor did not include any “good cause” eviction provisions in her Executive Budget. Over the next several weeks, the State Legislature will release their versions of a state budget setting a baseline for budget negotiations with an expected final agreement around the April 1, 2024 fiscal deadline. https://lnkd.in/g2QE-yT8

From coast to coast, the foundation of a thriving community is affordable housing. Making sure hardworking families have a safe and reliable place to live is essential to economic growth and to quality of life. Unfortunately, a chronic lack of supply and soaring demand has deepened America’s affordable housing shortage. That is why Congress should enact the bipartisan bill — the Affordable Housing Credit Improvement Act (AHCIA) — proposed by Reps. Darin LaHood (R-ILL.) and Suzan Delbene (D-WASH.). Every community in America is impacted by this crisis and the growing bipartisan support for the AHCIA shows it.

I think Secretary Fudge is right. Alongside of the need to advance investment in infrastructure is a national effort to address the housing challenges. I think we are at an inflection point similar to the Post-war era when the Federal government needed to think big and determine how we go forward in order for everyone to have access to shelter and that the access is affordable. Our long-term national future depends in it. There is a dramatic change in how we view housing and communities. The market is not up for the task and the traditional public and quasi-public tools for financing and development aren't either. Our families are changing, seniors need to have more options that include being able to stay in their communities and even to stay with their families. Warehousing seniors is a terrible solution. I think back to when I grew up in Chicago and it was pretty normal in most neighborhoods that the parents could own a two or three flat, the kids could move back in and have their own space and the family would still have a rental unit on the same site. Zoning laws need to change as well in most cities - they are outdated. Alternative forms of ownership as well. All these ideas have been battle tested in projects across the country but pulling them together as part of a national strategy is what is missing. Maybe this is the agenda for the future.

"And, to be very clear, there is no outside regulatory agency telling us that severe cuts to affordable housing are the only option to improve the health of our waterways. Nor is there evidence that the proposed approach will get us any closer to that goal. What we do know for certain, however, is that if we fail to heed these warnings, San Jose is headed to a dark future where tens of millions of dollars will vanish each year, with no money left to invest in the housing and homelessness prevention services that we already know work so well to keep our city safe, stable, and housed. That’s why now is the time to demand that we keep Measure E funds dedicated to housing, while also searching for new revenue sources that can further support this critical work."

Enterprise Community Partners - you all fight in the shadow carefully crafted by those who control you - careful to not step outside it; we cannot win this fight until we embrace the light and step outside our darkness. Local Law 97 is another piece of legislation that seeks to transfer tax payer’s fund into the wealthy. When newly nominated VP Vance spoke of the failures of NAFTA and China’s entry into the WHO - I agree. Its a simple mathematical reduction - is it not? When you have an algorithm (the corporation) that seeks to maximize (short-term) profit - and if all other variables remain the same except you can cut the cost of labour by transfering your operations outside of the United State’s of America - how will the algorithm respond? So, now apply the same idea to Local Law 97 and its porfolio carbon trading scheme. You have 3 properties, x1, x2, x3 - yet, x1 and x2’s are affordable housing - x3 is a luxury properties. Where do you think the investment will go towards? Its an optimization problem. If we must fight - then we must come out of the shadow, and look into the light. Our enemy is the algorithm because those who lead us do not have control over their own self. Why else at the forefront of application of #neuroscience are there calls to advertise to us while we even sleep. Is this the world we seek? Indeed - we are led by those who have appointed themselves as leaders, too fearful of losing control - driving us into darkness; driving us into madness. Today, we face a crisis - but at the heart of the drug problems, the homeless and the poverty is a crisis of leadership - and moral corruption within these so called leaders. The very foundation of this nation is decaying - because of its leaders, because of the #Elites. I for one believe what the framers put forth in 1787 represent an evolutionary milestone for our species, and we must ensure what was built then must remain standing now. “We hold these truths to be self-evident, that all human are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the Pursuit of Happiness.” - Declaration of Independence (Juy 4, 1776)

Colorado's Proposition 123: A Game-Changer for Affordable Housing Colorado's affordable housing crisis has long been a hot topic, and Proposition 123, approved in November 2022, is poised to make a significant impact. With nearly $300 million in annual funding, this initiative aims to boost affordable housing options across the state. 🌟 But how will this unfold on the ground? The Colorado Housing and Finance Authority (CHFA) and Department of Local Affairs are key players, allocating funds to development, land acquisition, equity investment, and homelessness initiatives. This collaborative effort is crucial for rapid deployment to address immediate needs. Here's what's exciting: - Local governments must increase affordable housing by 3% each year over three years. 🏠 - Tribal governments now have access to these programs. - $39 million already awarded under the Proposition 123 Equity program, creating 628 affordable housing units! - Communities like Vail aspire to ambitious goals, such as acquiring 1,000 additional resident units by 2027. However, challenges like land scarcity and high construction costs remain. It’s a step in the right direction, but comprehensive solutions are still needed. So, what does this mean for investors and developers? Opportunity! This measure could serve as a model for other states grappling with affordable housing issues, and the long-term impact on Colorado's housing landscape could be transformative. 🔍 What are your thoughts on Proposition 123’s potential? Have you seen similar initiatives in your area? #AffordableHousing #ColoradoRealEstate #InvestmentOpportunities #CommunityDevelopment

In June, the U.S. Department of Housing and Urban Development (HUD) issued new guidance allowing public housing agencies to increase utility assistance, aimed at helping residents cover the costs of air conditioning during extreme heat waves. This move could potentially ease the burden of soaring temperatures on nearly 1.6 million residents nationwide, including tens of thousands in Georgia. However, many public housing agencies in Georgia are finding themselves too financially strained to provide the needed assistance. Atlanta Volunteer Lawyers Foundation Executive Director Michael Lucas shared insights on the compounded challenges that rising utility rates and escalating temperatures could pose for local renters, especially seniors who face severe, potentially life-threatening risks. Learn more in the latest by the Atlanta Journal-Constitution at https://lnkd.in/eS3eDk8w

This is a fail Hillsborough County, Florida and a lack of understanding how affordable housing is funded. The program which waives impact fees for affordable housing projects has “helped create 1,248 affordable homes over the past five years with a relatively small cost to taxpayers.” In an ideal situation, the free market would provide for sufficient affordable housing but zoning restrictions inhibit the ability to construct enough housing. The constrained supply combined with the high cost of land and construction makes it impossible to build affordable housing without subsidy or incentive. “[Joshua] Wostal and Commissioner Michael Owen argued the program isn’t a good deal for county taxpayers who pay for the waived impact fees through property taxes.” — I can absolutely understand this position, superficially. The fee waiver helps build housing for the 4 services workers needed for every 1 high-paying job who won’t have a place to live and eventually risk these services not being provided; i.e., teachers, policemen, servers, etc. See Jackson Hole where cafes and museums have had to close due to a lack of workers because there is no affordable place for workers to live. The 1,248 units is a drop in the bucket compared to the housing that is needed for greater affordability. “It’s my position that we should not be padding developers’ pockets with taxpayer dollars,” said Owen. — Do developers need incentives to build affordable housing? Unequivocally yes unless something fundamentally changes. Do they pad their pockets building subsidized housing? No. Boo. #hillsborough #affordablehousing