Local capacity is built on federal resources. Federal support for affordable housing has been declining since its height in 1977. Transition to block grants and the Low Income Housing Tax Credit as the major source of funding for privately owned affordable housing. Yet LIHTC projects don’t reach very low income households as well as the old programs such as project based Section 8.
CRN’s federal policy focus is twofold: first, preservation of existing assisted housing. Section 8 continues to work, but as contracts expire over next five years, these units are at risk of market conversion. CRN monitors these units and informs legislators, tenants and community organizations about those units most at risk.
Second, as the need for affordable housing grows, will need reversal of decline in federal funding. CRN supports a national movement to create a National Housing Trust Fund.
HUD Regional Activity Report 2012
The Obama Administration's Efforts to Stabilize the Housing Market
HUD CPD Resources per Illinois Community
November 15, 2011
HOME and CDBG Cuts to Illinois Communities
Overall HUD Budget Chart from Enterprise Partners
August 12, 2010 - CRA Modernization Testimony
November 12, 2009 - Increasing CHDO Operating FUNDS
Community development advocates are pushing for an amendment to include language in the FY 2010 HUD appropriations bill to direct Participating Jurisdictions to provide the full 5% of HOME funds to Community Housing Development Organizations (CHDO) operating expenses.
The National Alliance of Community Economic Development Association (NACEDA) has sent a letter to Secretary Shaun Donovan asking him to support the amendment.
February 17, 2009 -President Obama signs American Recovery and Reinvestment Act
President Obama signed the much anticipated American Recovery and Reinvestment Act. This economic investement total $787 billion, but what will in mean for Illinois and for affordable housing?
- Read about the City's Plan to use Stimulus money
- This CRN factsheet provides a matrix to understanding funding available for housing, community development, and energy efficiency.
February 2009 - The Troubled Assets Relief Program created by the Emergency Economic Stabilization Act of 2008 can be a vehicle for acquiring and distributing real estate.
Read our latest recommendations about how TARP could build community.
Our October 2008 comments.
You can view and track TARP commitments Here at the US Treasury website.
September 15, 2008: CRN has been working with the Preservation Working Group to ensure that timely HAP payments are maintained. Click here for more information
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