Safeguarding New Orleans: The Imperative of a Housing Trust Fund

It is not often that we truly delve into the votes, but as we approach the upcoming fall election cycle, we want to talk about the Housing Trust Fund.  

We have seen folks rage against STRs. We have seen people rage against projects because there isn't enough parking. We have even seen neighbors rage (and file suit) against projects that have an affordable element.  

Unfortunately, too many folks assume that "affordable" housing is beneath them. They incorrectly associate "affordable" with lesser quality. The bigger issue is that we all are, know someone, work with someone, OR employ someone that is struggling to live these days. To quote a NYC politician: "the rent is too damn high".  

There wasn't one way that got us into this mess and there will not be one way to get us out. But creating a reliable (and dedicated) source for funding is important. This helps create predictability for folks looking to create housing. 

At ZSCD we would prefer to see smaller developments (3 to 9 units) be provided more funding opportunities as these types of projects generally cannot get funding and are small enough to not make everyone freak out (about parking... and “poor people” living next door).

One of the only ways to move forward would be to have a protected pot of funds that would be spent on housing. As we know, if it is not a "protected,” i.e. dedicated fund, then it will be raided every time we think it might rain. 

Most of our readers are clients and generally do skew a little more affluent. This sentence is for you. "Housing is economic development. Period." When you can't find employees because they can't afford to live here, your business fails. When your aunt has to leave the City because she can't afford the rent anymore, you will be hurt. We are all affected by this phenomenon. Again, it didn't start because of one thing, one project, or one development. This is a macro-economical event that is riding the wave of inflation and other price increases.

If we can agree on one big thing in the November election this year, let's at least agree that housing for our community is important and should be safeguarded. We encourage you to support the "housing trust fund".

-Zach Smith