Transforming Neighborhoods, Transforming Lives

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3 min read

To paraphrase Mick Nelson, a policy analyst at the Tennessee Housing Development Agency and recent panelists at NH&RA’s 2013 Multifamily Housing Exchange, the housing market doesn’t work like an NFL draft – the households with the least resources and greatest challenges don’t get to choose their unit first. Whether it’s the senior living on a fixed-income, the wounded veteran transitioning back to civilian life, or the working class family living in a blighted neighborhood, the marketplace provides few options for the families and individuals served by our federal affordable housing programs.

Fortunately, through innovative federal, state, and local programs, many of these individuals (though not nearly enough) are able to live in safe, sanitary, service-enriched and affordable housing. When the affordable housing community does its job, we transform lives and entire neighborhoods.

Unfortunately, some of these positive outcomes might be at risk in the current budget cycle if we do not stay mobilized. I was certainly encouraged to see the President’s commitment to transformational neighborhood revitalization programs like the Low-Income Housing Tax Credit, New Markets Tax Credit, Choice Neighborhoods Initiative, and Rental Assistance Demonstration in his FY 2014 budget proposal. This strong statement of support for key initiatives as the Congress considers funding bills and tax reform is a nice shot in the arm for our community – but we have a long way to go.

I admit that I seem to devote most of my advocacy, educational, and transactional focus to our biggest resources like the Low-Income Housing Tax Credit and Section 8. However, there is a lot of activity and opportunity around some of the smaller programs that is creating renaissances in neighborhoods around the country.

By the time you read this column the CDFI Fund will have announced its latest round of New Markets Tax Credit allocatees. I continue to be blown away by the transformative projects I see around the country that could not have moved but for this program.

Likewise, competition is now open for the next round of Choice Neighborhoods Initiative planning grants (applications are due May 28). Leveraged with the Department of Education’s Promise Neighborhoods program, the Department of Justice’s Byrne Criminal Justice Innovation Grants, and more traditional housing subsidies, this program will do more than create or rehab units – it will help end the cycle of crime and poverty in some of our most distressed communities.

As we continue our advocacy, education, and outreach, we must not forget to communicate the interaction and cross pollination these programs create, and explain the context of the communities in which we are working and the outcomes we can create.

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