Make the Most of the Summer Doldrums

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4 min read

School is out! Vacations and cooler climes beckon. Summer is finally upon us.                   For those of us who live and work in Washington, D.C., the city exhales when members of Congress recess for the month of August to return to their districts and states to reconnect with voters.

At NH&RA, we like to use this time for strategic planning and grass-roots action. This month I’m dedicating this column to some ideas about how to use your summer break effectively to help your business and our industry.

Make Some Good News. For the past year, the tax reform debate has mainly been limited to fact-finding – comments were submitted, programs reviewed, hearings held, but few hard decisions have been made. This fall we expect to see Congress begin to take the first steps towards legislative action.

The first proposals that get introduced will define the debate, so it is imperative that we continue to generate press about the positive social and economic impacts that tax credits are having around the country. This includes the low-income housing, historic rehabilitation, and new markets tax credit programs – plus the federal housing programs of HUD and USDA’s Rural Development.

While the tax reform debate will likely continue for many more months, now may be the last opportunity for you to get a Senator or Representative out to an affordable housing property before a bill is introduced and the battle lines are set.

So I implore you – reach out to your Representative’s or Senator’s office today and work with their scheduler and district staff to get them out to an event at your property. It doesn’t matter whether it’s a groundbreaking, ribbon cutting, community meeting, or ice cream social. Create an opportunity for the lawmaker and their staff to see your property in action and meet residents whose lives are forever changed by your work. Not sure how to start or need help? That’s what we are here for – give me a call at 202-939-1750.

Reinvest In Your Professional Affiliations. These are strange and uncertain times for tax credit developers and professionals. Fortunately, you don’t have to face them alone. Whether you are a member of NH&RA or of any of the other affordable housing professional and trade associations, there are untapped resources waiting for you to call. Take some time this summer to go to a meeting, get involved in a committee, and reintroduce yourself to association staff. You aren’t alone facing the challenges of today’s business environment – leverage the wisdom of the crowd as you think about business opportunities and strategies for the second half of the year.

Stay Cool. No, this isn’t just a call to go to the beach. Make sure your asset management and property management are taking time to weather strip and fine tune your properties’ heating and cooling systems so that they are running efficiently and optimally for the summer season. If you aren’t doing it already, this is also a great time to create a regular resident outreach program that educates tenants on how to efficiently heat and cool their units.

Remember, summer can be a time to recharge and re-energize ourselves. But this year is especially important. With consideration of tax reform looming just ahead, summer is the time for all of us to strategize and take action so that our industry – and our companies and organizations – aren’t taken by surprise when Congress returns after Labor Day.

Thom Amdur is Associate Publisher of Tax Credit Advisor and Executive Director of National Housing & Rehabilitation Association