Last week, the House Financial Services Committee held an Oversight Hearing with HUD Secretary Marcia Fudge. The meeting centered around the rise of housing supply, unaffordability, homelessness and the conditions of public housing.
Rep. Himes (D-CT) called the LIHTC “the most powerful tool for addressing supply” and specifically cited the success of Metro Green Apartments in his district – developed by NH&RA member Jonathan Rose Companies. In response, Secretary Fudge called for more nine percent tax credits.
The hearing was often contentious with topics ranging from how long it has been since Secretary Fudge’s last appearance before the committee, if any HUD funding is being used to support non-U.S. citizens and the high number of outstanding items in the HUD Office of Inspector General (OIG) report.
