If the weather forecasts are correct, Minnesota could break a record with nine consecutive days above 90 degrees Fahrenheit by the time you read this article. Add to that, what looks to be a successful campaign to “turn up the heat on Congress” for an Affordable Housing Fund and…well…I do believe the Land of 10,000 Lakes is a bit warmer than usual.
For the past several years Minnesota has been a leader in the campaign to create a National Affordable Housing Trust Fund–an effort to build and preserve 1.5 million units of rental housing for the lowest income families over the next 10 years. With over 140 endorsers–including 119 local and state organizations, 21 mayors, and the Minnesota Senate–our state has kept the pressure up for the federal government to re-establish its role in promoting affordable housing production.
Soon, our efforts could be rewarded.
As the National Low-Income Housing Coalition reports, advocates “have made the case to the U.S. Congress for new funds to build, preserve, and rehab housing that the lowest income families can afford. Today, our goal is within sight. On May 25, by a vote of 65-5, the House Financial Services Committee approved H.R. 1461, the bill that sets up a new regulator for [Fannie Mae and Freddie Mac]. The bill includes a requirement that [these Government-Sponsored Enterprises] put 5 percenter of their after-tax profits into an Affordable Housing Fund to support housing production for extremely and very low income families.”
While the language in H.R. 1461 falls short of the goals National Housing Trust Fund Campaign, if enacted, the legislation could result in $400-$600 million in the first years and will go as high as $1 billion annually eventually for production and rehabilitation of affordable rental housing.
Considering the impact this legislation could make, local and state advocates in Minnesota would be wise to keep the pressure on.
NLIHC says that H.R. 1461 could be voted on by the U.S. House of Representatives this month. It’s time to contact your Congressperson. Call the Congressional Switchboard at (202) 224-3121 and ask to be connected to your Congressperson’s office.
If you’re new at this or only have a minute, simply ask that your representative “Support the Affordable Housing Fund in H.R. 1461.”
If you are a bit more ambitious or have some time on your hands, visit the National Housing Trust Fund’s toolkit for details on the campaign and a link to local data on affordable rental housing need.
The thermometer outside your window confirms that the “Dog Days of Summer” have arrived. Could there be a better time to Heat Up for Housing?