Blueprint for August
Seeking Refuge
By Jessica Hoefer
3 min read
Global warming and climate change are wreaking havoc on our health, our livelihoods and our housing.
Arizona’s groundwater shortage is delaying developers from building and forcing cities and developers to look for alternative water sources to support future developments. Smoke from Canadian wildfires is sending the Northeast’s air quality index into the hazardous range, closing construction sites and forcing everyone indoors. A persistent drought in Kansas has the state importing wheat from Europe. California’s wildfire burn areas are growing larger, endangering more homes due to greenhouse gas emissions. And, according to the World Meteorological Organization website, global temperatures are expected to surge to record highs over the next five years, “fueled by heat-tracking greenhouse gases and naturally occurring El Niño events.”
Not only is the risk to public health alarming but also the potential for damage to properties and infrastructure, life-threatening events and the impairment of natural resources. Not to mention the rising price of energy, water and food, which increases the economic burden on those experiencing housing instability or who are at risk of homelessness.
Severe weather can also impact the structural integrity of a building. Builders must now produce homes using materials that are appropriate for that environment. All of this means we need more resources.
This issue of Tax Credit Advisor reinforces how important improving and investing resources into projects and communities is. In a poignant and timely The Guru Is In on homelessness, readers are given an account of historical catastrophes brought about by neglect and poor city planning and compounded by environmental factors.
To mitigate such risks, resource programs like Choice Neighborhoods Grants are breathing new life into distressed communities and struggling neighborhoods by rebuilding projects and constructing parks, stores, gardens and other amenities.
Additionally, HUD’s Green and Resilient Retrofit Program is contributing to making housing a part of the solution to the climate crisis. Through this program, comprehensive retrofits not only improve the health and well-being of residents but also provide long-term sustainability for the property, which contributes to its preservation.
But the building landscape is challenging, especially when it comes to securing funding for critically needed affordable housing. A new look at how basis eligibility is being utilized can help developers close funding gaps. Understanding Basis Eligibility shares insights from industry experts on the rise of the four percent deal and its implications on basis calculations.
What this issue proves is that long-term planning and resources that address both extreme weather and declining communities are essential. Vulnerable populations are suffering without access to proper housing. As we experience the hottest month(s) on record, safe and secure affordable housing is critical as a refuge and a defense against the impacts of climate change and global warming.
Regards,
Jessica Hoefer
Editor-in-Chief
