Domenica Personti’s Post

Worried about Housing Affordability? The Colorado Sun 's Brian Eason published an eye-opening article about Colorado's Affordable Housing Units and legislation you should encourage your legislators to support. Still yelling into the ether here, but we're all doing our best work in a vacuum... Maintaining our existing affordable housing stock is just as critical as creating new; is just as critical as making housing more affordable; is just as critical as maintaining the rights of people who want to become homeowners.

The 30-year clock is running out on affordable housing US Congress MUST stop spending billions of dollars on affordable housing programs that are temporary band-aid solutions and start requiring every government funded affordable housing project to have an AFFORDABILITY PERIOD IN PERPETUITY, just as the State of Vermont has done! https://lnkd.in/e8GHp3xz #affordablehousing #lihtc #uscongress #affordability #housingcrisis #housingforall #housingforall

🏠 Big news for California's housing crisis! Governor Gavin Newsom just signed 56 bills into law, making a significant push to simplify housing construction, protect tenants, and maintain affordability. This package includes measures to streamline housing development, encourage institutions to use their property for housing, and hold local communities accountable for their housing responsibilities. Since taking office, the state has invested $30 billion in affordable housing and made significant CEQA reforms. This focus on accountability has led to a 15-year high in housing starts in California. The era of saying no to housing is coming to an end! Some key bills include SB 4 (Yes In God’s Backyard), which allows religious and educational institutions to build housing projects on their property "by right." SB 423 extends the requirements for local governments to streamline affordable housing projects. These steps aim to address California's housing crisis by boosting housing production and making sure it's affordable. Let's hope these changes will lead to a brighter housing future for all Californians! 🏡🌟 #CaliforniaHousing #AffordableHousing #GovernorNewsom https://lnkd.in/gc5AJBRu

LEARN MORE ABOUT ARIZONA'S LIHTC (LOW INCOME HOUSING TAX CREDIT) PROGRAM HERE: https://lnkd.in/gG3R4bna "By Fall 2024, Centerline on Glendale will begin lease up and expects 100 percent occupancy by June 2025. Once construction is complete and initial occupancy is reached, Centerline on Glendale's 30-year period of affordability will begin. As a condition of receiving ARPA funding, during the affordability period the property will be responsible for various reporting obligations such as conducting annual income eligibility verifications, meeting Housing Quality Standards (HQS), and setting aside a specific number of units for households that are otherwise susceptible to housing instability. In addition to the 25 ARPA-assisted units reserved for households earning 0-60 percent AMI, eligible individuals in the same income range could receive subsidized rent, which would only be 30 percent of their income, and are provided a permanent supportive housing solution with on-site wrap around services." #LIHTC #taxcredit #affordability #affordablehousing #apartments #housing #housingsolutions #apartments #multifamily #commercialrealestate #crewithrenee

The city of Dayton is concerned about housing, especially affordable housing, and is has a plan it hopes will remedy the issue. The plan was laid out in the "Dayton Housing Policy," a years-long effort made with input from housing developers, realtors, neighborhood groups, financial institutions, local government and others. In the document, leaders say the city and its "friendly" partners own almost 6,000 acres throughout Dayton. The city wants to retain control of land in "key areas" for future development opportunities. The goal is to provide sustainable development by encouraging rehab of existing properties, as well as new construction — especially in Black and brown communities that have been "disproportionately impacted by housing segregation/redlining practices of the past." The city plans on doing this by incentivizing the creation of affordable units by advocating at the state and federal levels for more resources, including things like state historic tax credits.  "The demand for affordable housing is high and the current toolbox is limited," the packet says. "City elected leaders can participate in regional and state efforts to advance more affordable housing through expansion of tax credit programs, engaging new partners and creating other tools."  It also sounds alarm over the looming expiration of Covid-relief funds for renters, which "provided stability to families during the pandemic and prevented evictions." With the relief expiring later this year, the leaders believe "evictions will skyrocket."  "The strategies and policy recommendations in the Dayton Housing Policy are designed to protect vulnerable residents living in unstable housing conditions," it says. #dayton #daytonohio #realestatedevelopment #homebuilding

Huge affordable housing news in Mass. today with the passage of the Massachusetts Affordable Homes Act. It's great to see governor Healey supporting funds to help close the gap in development and ensure more affordable housing to help combat the current housing crisis. “The passage of the Affordable Homes Act is a monumental step toward building a Massachusetts where everyone – from our talented workforce and families to our retirees – can afford to live and thrive.” - Housing and Livable Communities Secretary Ed Augustus. https://lnkd.in/eyM9w2ii #affordablehousing

Exciting news alert! A package of bills aimed at enhancing housing affordability for Arizonans has successfully passed the state Senate today, marking a significant step forward in addressing housing challenges across the state. These bills, which include the groundbreaking Arizona Starter Homes Act, received bipartisan support in the Senate after similar proposals faltered last year. This act prohibits cities from mandating homeowners to form HOAs or purchase certain items related to home aesthetics, while also enabling residents in smaller counties to build homes on smaller lots of at least 1,500 square feet. The passage of these bills holds promising implications for our community's future. Increased housing affordability means more families and individuals experiencing hardship will have access to safe and stable housing, providing them with the foundation they need to rebuild their lives. This not only strengthens our community's resilience but also fosters a more vibrant and thriving future for generations to come A New Leaf is truly delighted to see these bills pass, as they represent tangible progress towards our shared vision of a community where everyone has a place to call home. We believe that stable housing is a fundamental human right, and these legislative decisions bring us one step closer to achieving that goal. https://lnkd.in/gYMuzS2n

Something of the nature of what is occurring in Florida as is provided below by DarrowEverettLLP attorney, Jacob Leuze, may potentially manifest in Nashville given that the supply has not kept up with the demand for housing. Plus, the cost of housing is the “elephant in the room” and the real issue for Nashvillians. We have construction of new housing everywhere we look but is it unaffordable for the average Nashvillian? No. Given how the Act discussed below in Florida, addresses requirements for affordable housing, it may be time for Tennessee legislators and Nashville government to think about providing the same to assist Nashvillians with housing and imposing taxes on new residence moving to Nashville with higher income bases that can afford to pay over asking prices for housing. Mr. Leuze provides what is occurring in Florida: The supply of affordable housing units in Florida has not kept up with the demand, but the state’s passage of the Live Local Act appears to be a great way to solve this big problem. Associate Jacob Leuze explains how developers can benefit from an expedited approval process when setting out to build these much-needed units. #affordablehousing #DEinsights #commercialrealestate #florida #floridarealestate https://lnkd.in/ePqFfiwP

Insightful and interesting piece re: affordable housing from Sacramento Business Journal https://lnkd.in/g_rG8P_4 "Unlike California, Azhar said, Texas law forbids the kind of linkage fees on new development to pay for affordable housing, and also any kind of inclusionary zoning to incorporate affordable units in with market-rate ones. There's also no state affordable housing funding, Azhar said. Even so, since 2006, Austin's bonds have built more than 6,700 homes, including 5,475 rental homes for people making $88,250 or less, 477 ownership homes for that income category and 794 permanent supportive housing units. Given the constraints in Texas law, Azhar said, the best way to increase the impact in Austin would probably come from the federal government, either through expanding the availability of low-income tax credits or more direct federal funding of affordable housing."