Metropolitan Council of the Twin Cities’ Post

Continuing our series on the 2024 Council Priorities, and in honor of Affordable Housing Month this May, we are sharing details about the Council’s 2024 Priority Housing for Social and Economic Balance and 21 adopted objectives that are timebound and measurable, to advance this priority. Learn about renter protections and other efforts seeking to support the 40% of our residents that are renters, Area Housing Plans and other programs implementing priorities within the recently adopted revised Housing Element, interim housing project Homekey Palo Alto status and more! https://bit.ly/3KcciC9

The economic impacts of affordable housing are clear as shown by Mountainlands Community Housing Trust's study revealed in their event earlier this week. 🚘️ 🏘️ More affordable housing would limit commuting, which would reduce traffic and the need for new parking structures; it would bring in more state funding for schools; and increase local spending, sales, and property taxes for the county. The return on investment into affordable housing is estimated to be more than 5 times. 📰 Read the KPCW article to learn more about the positive impacts of affordable housing: https://lnkd.in/e3zc4mRT

New Jersey’s affordable housing rules have changed. The new legislation eliminates COAH and changes the vacant land regulations and available bonus credits. The bill also includes strict deadlines for municipalities to calculate their affordable housing obligation and prepare a new Housing Element. Please reach out to learn more and how we can help you navigate the new affordable housing requirements!

🗣️ What do you think about our draft Affordable Housing Strategy? 🏠 Our updated strategy sets out how Council will contribute to improving the supply of affordable housing and investigates ways to make homes more affordable. 👛 We know that affordable housing is one of the biggest challenges facing the community so your feedback on the draft is important. Read the strategy and share your thoughts by before 5pm this Friday 👉 https://bit.ly/4ecga3x

Have you heard of section 106? If you don’t do your research before planning you could end up developing extra buildings to balance the impact of your building on the local community. This could include community buildings or children’s parks! As much as it’s nice to give back to the local community, if it’s not in the budget then you need to have a rethink or renegotiate with the local planning authorities. #section106 #CIL #propertyproblems #propertypro #realestate

A new report by the National Low Income Housing Coalition (NLIHC) found the need for affordable rental housing is now more severe than it was prior to the pandemic, with the shortage of affordable rental homes up 480,000 from 2019. This gap isn’t just deep, it’s widespread, affecting every state and 50 of the largest metropolitan areas.    At IMPACT Community Capital LLC, we believe that everyone deserves access to safe and affordable housing, regardless of their location or socioeconomic status. We remain committed to advancing opportunity in underinvested communities through our purpose-driven investments.     Learn more about our most recent investments, Washington Apartments and Pine Terrace, in our Q2 Market Commentary: https://lnkd.in/e_iKFdzp

Nationally, nearly five million affordable rental homes are supported by federal project-based programs, representing 10% of the U.S. rental housing stock. While the need is critical, thousands of homes are at risk of exiting these programs each year, whether through property depreciation, the expiration of tax credits, or insufficient funding. By 2026, 327,565 affordable homes will have expired affordability restrictions. Others may need reinvestment to remain in safe operating condition for families. Yet with the right data, invested community partners can intervene and preserve the stock of affordable housing in their states and communities. See what’s happening in your state at: https://lnkd.in/eTSrjf3U

Veteran Housing Corp applauds all efforts to build affordable housing but would challenge the US Congress and every local, state, and federal housing agency or affordable housing developer to do better in 2024 and beyond. Veteran Housing Corp demands permanent affordability for all projects receiving government funding, subsidies, tax credits, or other incentives! Veteran Housing Corp demands transparency and every local, state, and federal government agency and other stakeholders MUST provide answers to questions about the housing projects that are built with government funding, subsidies, tax credits, or incentives, including the following: 1. How much funding, federal tax credits, or government benefits or incentives from all government sources did the projects receive? 2. What is the affordability period for each project? 3. What guarantees exist that tenants will not be displaced after the "affordability period expires? Every local, state, and federal housing authority and affordable or workforce housing stakeholder should adopt the State of Vermont's "permanent affordability" policy as a model for all future government funded or subsidized housing projects or developments, no exceptions! https://lnkd.in/eFEUC8c8 Additionally, local, state and federal housing agencies should look to the Helsinki, FINLAND MODEL of ending homelessness by providing affordable housing for all 'It’s a miracle': Helsinki's radical solution to homelessness https://lnkd.in/er9HZSQU U.S. Department of Housing and Urban Development AGREES THAT adopting FINLAND'S MODEL OF ERADICATING HOMELESSNESS may be of great value to resolving the affordable housing and homelessness crises in America https://lnkd.in/gkSZWYRU

Nationally, nearly five million affordable rental homes are supported by federal project-based programs, representing 10% of the U.S. rental housing stock. While the need is critical, thousands of homes are at risk of exiting these programs each year, whether through property depreciation, the expiration of tax credits, or insufficient funding. By 2026, 327,565 affordable homes will have expired affordability restrictions. Others may need reinvestment to remain in safe operating condition for families. Yet with the right data, invested community partners can intervene and preserve the stock of affordable housing in their states and communities. See what’s happening in your state at: https://lnkd.in/eTSrjf3U

Nationally, nearly five million affordable rental homes are supported by federal project-based programs, representing 10% of the U.S. rental housing stock. While the need is critical, thousands of homes are at risk of exiting these programs each year, whether through property depreciation, the expiration of tax credits, or insufficient funding. By 2026, 327,565 affordable homes will have expired affordability restrictions. Others may need reinvestment to remain in safe operating conditions for families. Yet, with the right data, invested community partners can intervene and preserve affordable housing stock in their states and communities. See what’s happening in your state at: https://lnkd.in/eTSrjf3U