Oakland Mayor Signs Bipartisan Letter On Affordable Housing

OAKLAND, CA — Mayor Libby Schaaf of Oakland is one of eleven California mayors, and 44 from around the nation, who signed a letter sent today urging congressional leaders to include affordable housing legislation in any tax package considered by Congress before the end of the year.

“Our nation is facing one of the worst housing crises in our history,” the mayors wrote in a letter to Senate Majority Leader Mitch McConnell, Minority Leader Chuck Schumer, House Speaker Nancy Pelosi, and House Minority Leader Kevin McCarthy. “The Affordable Housing Credit Improvement Act would have a critical impact in addressing our rental housing shortages and increasing access to affordable housing for hard-working families, seniors, veterans, and people with disabilities.”

Calling the Housing Credit a “model public-private partnership,” the mayors continued: “the Affordable Housing Credit Improvement Act would provide a much-needed investment in our nation’s housing infrastructure, while also generating $48.5 billion in wages and business income, $19.1 billion in additional tax revenue, and 510,000 jobs.”

The legislation is Affordable Housing Credit Improvement Act of 2019. The bill would expand the Affordable Housing Tax Credit – also known as the Low Income Housing Tax Credit – creating more than 550,000 new units than would otherwise be built.

The legislation would also strengthen veteran-specific housing options and allow states to increase the credits available for projects in rural areas.

The letter was signed by the mayors of: Mesa, AZ; Phoenix, AZ; Tucson, AZ; East Palo Alto, CA; Los Angeles, CA; Newark, CA; Oakland, CA; Oceanside, CA; Rancho Cordova, CA; Sacramento, CA; San Francisco, CA; San Jose, CA; San Leandro, CA; Santa Monica, CA; Denver, CO; Washington, D.C.; Chicago, IL; Carmel, IN; Louisville, KY; New Orleans, LA; Boston, MA; Minneapolis, MN; Saint Paul, MN; St. Louis, MO; New York, NY; Newburgh, NY; Rochester, NY; Akron, OH; Cleveland, OH; Columbus, OH; Philadelphia, PA; Pittsburgh, PA; Dallas, TX; San Antonio, TX; Montpelier, VT; Vergennes, VT; Winooski, VT; Alexandria, VA; Colville, WA; Everett, WA; Seattle, WA; Tacoma, WA.; Madison, WI; and Milwaukee, WI.

Here is the full letter:

December 9, 2019

Dear Senate Majority Leader Mitch McConnell, Minority Leader Chuck Schumer, House Speaker Nancy Pelosi, and House Minority Leader Kevin McCarthy,

As bipartisan mayors representing communities in 18 states and the District of Colombia, we write to urge you to include S. 1703/H.R. 3077, the Affordable Housing Credit Improvement Act of 2019, as part of any tax package. The Low-Income Housing Tax Credit (Housing Credit) is our nation’s primary tool for encouraging private investment in affordable rental housing. This bipartisan legislation would help strengthen and expand the highly effective Housing Credit, resulting in more than half a million additional affordable homes nationwide over the next decade.

Our nation is facing one of the worst housing crises in our history. As residents of our cities continue to face these challenges, we know that access to safe and affordable housing is essential for the health and well-being of our residents and the economic strength of our communities. Nearly 11 million renter households – one in four of all renters in the U.S. – spend more than half of their monthly income on housing costs alone. With that severe cost burden, there is very little left for other necessities, such as food, healthcare, education, and transportation to employment, let alone for retirement or college savings. The Housing Credit has long been the most effective and critical tool to building new and preserving existing affordable housing. The Affordable Housing Credit Improvement Act would have a critical impact in addressing our rental housing shortages and increasing access to affordable housing for hard-working families, seniors, veterans, and people with disabilities.

As a model public-private partnership, the Housing Credit has financed the development or preservation of 3.2 million affordable homes. In addition to financing virtually all affordable housing development today, the Housing Credit provides economic benefits and creates jobs. Furthermore, by design, the Housing Credit is administered at the state level so that it can address rural, urban, and suburban communities’ unique housing needs nationwide. We must respond to the alarming need for more affordable housing in our cities, and the Affordable Housing Credit Improvement Act would provide a much-needed investment in our nation’s housing infrastructure, while also generating $48.5 billion in wages and business income, $19.1 billion in additional tax revenue, and 510,000 jobs.

Strong federal leadership in partnership with our cities is critical to addressing the housing needs in our communities. This legislation has broad, bipartisan support and is critical for our cities, our residents, and our nation. We urge you to include S. 1703/H.R. 3077, the Affordable Housing Credit Improvement Act of 2019, in any tax package.

Also See:

• Habitat For Humanity Partners With City Of Walnut Creek
• Homeless Services Increase In Contra Costa County