News & Event
TO: All Members and Housing Organizations
We are operating in a rapidly changing business environment and continuing to monitor the COVID-19 situation. Despite the challenges that we are all encountering, I am pleased to share that we are continuing to offer the programs and services that our members depend on, including our Affordable Housing Program and Equity Builder Program.
Federal Home Loan Bank of Boston will contribute a total of $21.3 million to the 2020 Affordable Housing Program (AHP) and Equity Builder Program (EBP). Of this, $18.1 million will be allocated to the AHP and $3.2 million will be allocated to the EBP.
In 2020, the individual AHP application limits will continue to be $650,000 in direct subsidy and $1 million in total subsidy, including the AHP advance interest-rate subsidy.
The online AHP application will be available on our website beginning on June 8 through July 30. Please note that all applications and supporting documentation must be electronically submitted by 3:00 p.m. on Thursday, July 30, 2020. To facilitate our members’ application review, we have added a separate period for members to complete their application review and analysis. Members will have until 3:00 p.m. on Thursday, August 6, 2020 to complete this online application review.
While we acknowledge that it may be difficult to do so at this time, we encourage members and sponsors to start discussions to establish a working relationship that will extend through the application submission process and beyond, should the initiative be awarded funding. FHLBank Boston will host multiple training sessions via webinar to help you understand the application process and ask that you register online at fhlbboston.com/events.
The 2020 AHP Implementation Plan and the Notice of Changes, including application instructions, scoring criteria, and required application documents, are available on our website. Our Housing and Community Investment team is happy to answer your questions and provide technical assistance and can be reached at 1-888-424-3863. Thank you for your commitment to addressing affordable housing needs across New England and the communities you serve.
Edward A. Hjerpe III President and CEO
Courtesy of Federal Home Loan Bank of Boston
These changes could help offset the impact of the lowered corporate tax rate from 35% to 21%, which effectively reduces the value of Housing Credits to corporate investors. Some experts estimate that the lowered corporate tax rate will significantly reduce investor demand for the Housing Credit and could result in 20,000 fewer homes being built under the program annually.
Courtesy of NLIHC
Washington, DC – A diverse range of organizations from various sectors announced a new campaign today to increase affordable housing for America’s most vulnerable communities.
The Opportunity Starts at Home campaign launched today at the National Low Income Housing Coalition’s (NLIHC’s) Housing Policy Forum in Washington, DC. With financial support from the Funders for Housing and Opportunity, NLIHC launched this new multi-sector affordable homes campaign together with the Center on Budget and Policy Priorities, Children’s HealthWatch, Make Room, and the National Alliance to End Homelessness, and with a steering committee that includes Catholic Charities USA, Children’s Defense Fund, Community Catalyst, Food Research and Action Center, NAACP, National Alliance on Mental Illness, National Association of Community Health Centers, National Education Association, and UnidosUS.
Stakeholders from multiple sectors are increasingly recognizing the importance of affordable housing to their own priorities and goals. The Opportunity Starts at Home campaign seeks to mobilize powerful new constituencies beyond housing to ensure that people with the lowest incomes have access to safe, decent, affordable housing in neighborhoods where everyone has equitable opportunities to thrive.
Recent NLIHC research shows the U.S. has a shortage of 7.2 million rental homes affordable and available to extremely low income (ELI) renters, and 11 million ELI renter households are severely housing cost-burdened, spending more than half of their incomes on housing. There are only 35 affordable and available rental homes for every 100 ELI households nationwide, and no state has an adequate supply of affordable rental housing for the lowest income renters. Just one out of four eligible low income households receives federal housing assistance.
The consequences of America’s affordable housing crisis are spilling over into many other areas like the education, health care, civil rights, anti-hunger, homelessness, and anti-poverty sectors. By combining voices and expertise, leading organizations from these sectors seek to build a broad national movement that promotes federal policies that protect and expand affordable housing.
The long-term goals of the campaign are to promote federal policies that:
The campaign will also act to defend against funding cuts and harmful policy changes in existing low income housing programs.
Opportunity Starts at Home is also working to strengthen the capacities of multi-sector state coalitions that share the campaign’s goals. The campaign has already issued capacity-building grants to partners in seven states: California, Idaho, Maine, New Jersey, Ohio, Oregon, and Utah.
“The time to act is now,” said Diane Yentel, NLIHC president and CEO. “The housing affordability problem has reached historic heights. Federal housing assistance is chronically underfunded and faces increasing threats. It’s time for those who believe that everyone in America deserves a safe and affordable home to join in a movement that will ensure fundamental opportunities for people most in need.”
“UnidosUS is dedicated to improving opportunities for Latinos and we’re especially proud of our work over the past 50 years to empower Latinos to contribute and to share in the nation’s economic opportunities,” said Eric Rodriguez, UnidosUS vice president for policy and advocacy. “A good home is the foundation for many of those opportunities: a better education for our children, enhanced employment opportunities, and a safe and stable place for families to live. We joined Opportunity Starts at Home because too many hardworking families struggle to keep a roof over their heads and it will take all sectors of society to make progress and ensure that more Americans, including Latinos, have a place to call home.”
“The United States cannot say we cherish our children when millions of extremely poor children each year suffer through homelessness or are denied access to safe and affordable housing,” said Richard Hooks Wayman, national executive director of the Children’s Defense Fund. “Research shows that half of our intelligence potential is developed by age four. Positive child development is linked to a sense of safety, predictability, and routines. We must do our part to ensure that children have housing stability during a critical stage of development. We must do our part to ensure that housing in this nation is affordable and accessible. And we must do our part to ensure that investments in affordable housing production that keep children safe and secure is continued.”
“NAMI is proud to be a part of this multi-sector housing campaign because access to decent, safe and affordable housing is a critical need for people living with a mental illness,” said Andrew Sperling, director of legislative and policy advocacy at the National Alliance on Mental Illness. “It is simply not possible to achieve recovery and a full life in the community without stable housing. Given the current threats to rental assistance programs it is critical that NAMI joins with our partners across so many diverse sectors to fight for policies and future investments in affordable rental housing programs.”
“NEA is committed to the three million members and the 50 million students we serve and are pleased to support programs, campaigns and initiatives that are in support of students, educators and families,” said Lily Eskelsen Garcia, president of the National Education Association. “We understand and know firsthand the impacts affordable and stable housing have on student success. We also know that given the wages and income of some of our members, it impacts where they work as well as their own families.”
“The NAACP is proud to join this multi-sector housing campaign as it aligns with our goal of economic equality in housing,” said Derrick Johnson, president and CEO of the National Association for the Advancement of Colored People (NAACP). “The research is increasingly clear that housing affects all aspects of a quality life; therefore, federal housing policy is very important for the people we serve. We find that threats to federal housing assistance are unprecedented and this campaign will indeed shed a brighter light on the needs of all people.”
“Housing affordability is one of the greatest challenges facing our nation. It limits economic mobility, reinforces racial inequities, reduces health and education outcomes, and is a primary driver of homelessness in the United States,” said Nan Roman, president and CEO of the National Alliance to End Homelessness. “The Opportunity Starts at Home campaign brings together an unprecedented multi-sector coalition, focused on increasing critically needed federal investments in affordable housing. We are honored to be part of this important effort.”
“No one should be without a safe and stable home, which is why the Opportunity Starts at Homecampaign is so critical, especially now,” said Ali Solis, president and CEO of Make Room Inc. “By partnering with organizations from the healthcare, housing and education sectors who share our mission, Make Room hopes to accelerate our goal of creating a country where everyone has a home that they can afford. We are honored to be part of this important campaign.”
“Too often, the issues of housing, health, education and income security are considered in silos, separate from one another,” said Doug Rice, senior policy analyst for the Center on Budget and Policy Priorities. “But a home is much more than just four walls and a roof; it’s the pathway to a healthier, more prosperous, and more secure life, and something that far too many Americans cannot attain. We are excited to join forces with leaders in so many fields to advance effective solutions to help our nation’s most vulnerable.”
“A stable, affordable home is a prescription for good health,” said Dr. Megan Sandel, principal investigator with Children’s HealthWatch. “Children’s HealthWatch is excited to join our colleagues on the Opportunity Starts at Home campaign to identify solutions that provide access to safe, decent, affordable housing in neighborhoods where everyone has equitable opportunities to thrive.”
Learn more about the Opportunity Starts at Home campaign at: www.OpportunityHome.org
Opportunity Starts at Home is a new national multi-sector campaign to generate widespread support for federal policies that protect and expand affordable housing.
Established in 1974 by Cushing N. Dolbeare, the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest income in the United States have affordable and decent homes.
Courtesy of Opportunity Starts at Home, NLIHC
The Acquisition and Revitalization Program ("ARP") will stabilize neighborhoods and communities by strategically targeting blighted residential and commercial properties and vacant lots in need of redevelopment.
ARP provides an incentive to qualified developers to purchase and redevelop blighted properties in Rhode Island. Financing is available to non- and for-profit developers, municipalities and public housing authorities. Eligible properties include residential, commercial and vacant lots located in Rhode Island that are determined to be blighted and that are part of a revitalization plan or strategy.
Funding Announcement (click here)
Summary Guidelines (click here)
Program Review Criteria (click here)
ARP Application (click here)
ARP Proforma (click here)
For questions regarding the program, please contact Eric Alexander, Assistant Director of Development, at firstname.lastname@example.org or Belinda Lill, Program Coordinator/Ancillary Financing at email@example.com.
FOR IMMEDIATE RELEASE: February 14, 2018
CONTACT: Chip Unruh, (202) 224-4642
WASHINGTON, DC – Today, U.S. Senator Jack Reed, who led the effort to establish the Housing Trust Fund (HTF) and the Capital Magnet Fund (CMF) and who is a senior member of the Senate Banking Committee, issued the following statement:
There is no county in the nation where a full-time worker earning the federal minimum wage could afford to rent a two bedroom home without spending more than 30% of their income. 2020 Presidential Candidates Bernie Sanders, Joe Biden, Michael Bloomberg, Elizabeth Warren, Pete Buttigieg, Amy Klobuchar, Tom Steyer, and Tulsi Gabbard present their plans to make secure, affordable housing more accessible.
To view housing plans by candidate, visit Affordable Housing Online
Courtesy of Affordable Housing Online
(Note: Over the last few weeks WhatsUpNewp has been exploring affordable housing issues. Last Friday, HousingWorksRI released its annual Fact Book, providing a detailed look at how the state and its municipalities are addressing affordable housing issues. To view our stories and podcast in this series, visit Affordable Housing. Meanwhile, we’ll be continuing our affordable housing series in the upcoming weeks.)
Businesses and communities benefit when there’s adequate affordable housing for moderate- and low-income individuals and families, a message that affordable housing advocates believe will begin to get those who typically have ignored the issue, to begin taking it seriously.
“A policy window is opening,” said Dr. Tiffany Manuel, a housing advocate, speaking at the HousingWorksRI luncheon at which the organization unveiled its 2018 Housing Fact Book. “Nationally we have a moment. How do I make them care? Why it’s important. Why it makes us better.”
Her premise is to equate affordable housing with economic development.
It’s an approach that is well documented on various websites that not only show the jobs created by construction but the number of employees that would be served by an increase in affordable housing.
Manuel’s comments came on the day that HousingWorksRI unveiled findings that only reinforced Manuel’s characterization of the “severity of the housing crisis.”\
To view the complete article, visit WhatsUpNewp
Courtesy of WhatsUpNewp
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