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National Housing Trust Newsletter
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Greetings!
 November's election brought big changes to the political landscape. Over 650 new state legislators and 26 governors were elected. Here in D.C., 112 newly elected members of Congress take office today. Of these, 100 are newly elected Republican members. (Click here for a list of the new members of Congress.)
This political change came with a clear message: policymakers are looking for cost-effective strategies to deal with existing problems, including making the most of limited resources to restore communities and create jobs. It's up to us to educate these new policymakers about the value of what we do.
Right off the bat, we need to explain to new policymakers and their staff that affordable housing preservation is an appropriate housing strategy to pursue. Consider some of the key challenges facing policymakers today:
The mandate to cut costs. Reinvesting in existing housing is a practical strategy in our resource scarce environment. First, renovating existing homes is cost effective since it is 33% less expensive to rehabilitate an existing home than to build a new one. Second, it costs less for government to service existing communities that are densely developed and near transit than to build roads, run sewer and finance schools in far-flung suburbs.
The pressure to quickly create jobs. Since the start of the Great Recession, we have lost 8.4 million jobs. Fully 25% of these were in construction. Investing in existing housing quickly creates jobs. Based on a recent National Association of Home Builders' analysis of low-income housing tax credit developments near transit in Denver as well as a similar 2007 study, we estimate that substantial rehabilitation of an existing 100-unit property generates 125 well paying jobs. These jobs will be created more quickly than comparable jobs in new construction; preservation projects move faster than new construction because they are often "shovel ready" and do not require zoning variances or review.
The need for energy efficient solutions. Preservation is inherently resource efficient - the greenest building is the one that already exists. Retrofitting affordable housing near public transit has the dual benefits of reducing energy consumed through transportation and reducing the environmental impact of the housing stock.
In short, housing preservation is not expensive, creates jobs, and helps us reduce our carbon footprint, all messages we need to impress upon new policymakers.
Stay Tuned,
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LIVE ONLINE EVENT: How States Use Qualified Allocation Plans as Incentive for Preservation, Transit Oriented Development and Green Design & Building Practices 
With the low income housing tax credit market (LIHTC) coming back to life, how states prioritize this valuable resource is increasingly critical to our industry. The National Housing Trust and Enterprise have inventoried each state's Qualified Allocation Plan and how those plans provide incentive for affordable housing preservation, transit oriented development, and green design and building practices. An upcoming webinar will outline those findings as well as address trends in how states have allocated their tax credits over the last several years.
Presented By:
- Tracy Kaufman, Director of the National Housing Trust's National Preservation Initiative
- Trisha Miller, Director of Green Communities at Enterprise Community Partners
DATE and TIME: Thursday, January 20, 2011 2:00 pm Eastern Standard Time
CLICK HERE TO REGISTER |
Tenants' Tenacity Saves Homes
 | | The Martinez family fought to save their home. (Photo: Lloyd Wolf |
On November 17th, 2010, residents, neighbors, and community developers joined to celebrate the ground breaking of the St. Dennis Apartments in Washington, D.C.'s Mt. Pleasant neighborhood. Low income families, many of whom had endured deplorable living conditions at the property, will soon be able to enjoy fully renovated, energy efficient affordable apartments. The preservation and renovation of the St. Dennis was made possible due to the tenacity of the Martinez family who refused to be forced from their neighborhood when their landlord sought to convert their apartment building to luxury condominiums. |
As the New Congress Meets, Now is the Time to Educate Members and Staff About the Importance of Affordable Housing
 Today marks the first day of the 112th Congress. There are 96 newly elected members of the House of Representatives and 16 new Senators. Many of these members are not acquainted with affordable housing programs, how they work, or how they serve their constituents. In the House, many of these new members will be assigned to the Financial Services Committee, which oversees federal housing programs.
Now is a great time to get to know these new members and their staff, invite them to affordable housing tours, open houses, and ribbon cuttings, and provide them an up close opportunity to see the importance of the work that is done in their districts with federal resources. It's essential to stress the importance of HUD Section 8 funding and Low Income Housing Tax Credits, two critical programs that create jobs and help serve the needs of low income seniors and families.
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