The House Financial Services Subcommittee on Housing and Insurance held a hearing on private sector involvement in affordable housing. “The Future of Housing in America: Increasing Private Sector Participation in Affordable Housing” focused on opportunities to leverage large private sector investments, including the HUD Rental Assistance Demonstration program and the low-income housing tax credit (LIHTC).
Representatives from District of Columbia Housing Authority, development company WC Smith, affordable housing consulting firm Quadel, and the National Low Income Housing Coalition participated at the hearing. A Call To Invest in Our Neighborhoods (ACTION) Campaign, co-chaired by NH&RA member, Enterprise, and representing nearly 900 organizations, submitted a statement for the record highlighting the LIHTC’s strong track record in leveraging private sector investment for the development of affordable housing.
In addition to RAD and LIHTC, hearing participants discussed HUD’s Moving to Work program, HOME Investment Partnerships Program, Community Development Block Grants, mortgage interest deduction, social impact bonds, and the New Markets Tax Credit.
