NACEDA is now the Community Opportunity Alliance

August 27, 2024

National Voice

Harris Policy Platform Puts the Housing Supply at Center-Stage

In a signal that housing affordability is near the top of her policy agenda, Democratic Presidential Nominee Kamala Harris announced a framework for how her Administration would increase the supply of homes, if elected. The framework includes three tax incentives to boost construction: a new credit for developers who build starter homes for first-time homebuyers, an expansion of the Low Income Housing Tax Credit (LIHTC) to spur the construction of more affordable apartment units, and the establishment of the tax credit outlined in the Neighborhood Homes Investment Act, also known as the Neighborhood Homes Tax Credit. The Alliance has endorsed and actively supported the expansion of LIHTC and the creation of the Neighborhood Homes Tax Credit. The Harris proposal also establishes a $40 billion fund to ease local barriers like exclusionary zoning. It does not include a cap on rents, which was recently proposed by the Biden Administration. 

Rising Insurance Costs & the Threat to Affordable Housing

We’ve been calling attention to the risk that escalating insurance costs pose to affordable housing development and the future of our industry. Most recently, Executive Director Frank Woodruff shared insights for the August 25 New York Times article, Soaring Insurance Costs Could ‘End’ Affordable Housing, Developers Warn. The article features local community developers who have had to cancel affordable housing developments due to escalating insurance costs.

We are also advocating with federal policymakers about rising insurance costs. Staff participated in the Department of Housing & Urban Development’s Insurance Summit for stakeholders in July. Participants discussed steps to address rising costs such as data-transparency from insurance companies, regulatory changes at the state level, large-scale Congressional action, and adjustments to the reinsurance marketplace. HUD’s Insurance Summit Fact Sheet explains how they are addressing the issue.

Dawne Troupe (left) and Frank Woodruff of the Community Opportunity Alliance participated in the HUD Insurance Summit with Kathy Flanagan Payton of the Fifth Ward Community Redevelopment Corporation.

Supreme Court Decision Weakens the Role of Federal Regulators

The Supreme Court struck down the 40-year-old Chevron doctrine on June 28, cutting the power of federal agencies to interpret the laws they administer. The decision could have significant impacts on fair lending practices, housing policies, and financial disclosures. Charles Lowery of the National Housing Conference explains the decision and its potential impacts in his recent blog, What the loss of Chevron Deference means for the housing industry.

Capital One Announces $265 Billion Community Benefits Plan

The National Association for Latino Community Asset Builders (NALCAB), NeighborWorks America, the Opportunity Finance Network (OFN), and the Woodstock Institute represented communities in negotiating Capital One’s Community Benefits Plan. The plan guides Capital One’s lending, investing, and philanthropy over five years. Marla Bilonick of NALCAB provided an overview with topline numbers about Capital One’s commitments to communities most in need and the organizations that serve them. 

Capacity

Illinois Member’s Housing Counseling Training Center Goes National

Housing Action Illinois has provided education for housing counselors since 2006. Last year, they were one of seven organizations funded by the Department of Housing & Urban Development to provide education for current and prospective HUD-certified housing counselors across the nation. They facilitated 24 trainings with 840 participants from more than 40 states last year. See what opportunities the Housing Counseling Training Center provides to housing counselors to build their skills to help people find and keep good homes.

Research

Free Webinar on Funding Inequities Within Our Field

This webinar is part of our Grounding Values In Research webinar series. Learn about upcoming webinars and access a compilation of training resources recommended by participants in our previous webinar, Cultivating Community Development Professionals.

Identity

Submit a Session Proposal for the Just Economy Conference

NCRC has released a Call for Proposals for the Just Economy Conference on March 26-27 in Washington, DC. “It’s a great opportunity for community developers to showcase their work on a national stage," said Suzanne Gunther of the Community Opportunity Alliance, who is a member of the Just Economy Program Committee. NCRC is looking for proposals that show how place-based strategies help residents to live well and build wealth. They’re particularly interested in content that touches on affordable housing, workforce development, and climate change. Submit your proposal by September 13. 

Funding

$2 Billion EPA Grant Program Is Targeted to Community-Based Nonprofits

The Environmental Protection Agency (EPA) is accepting applications for their Community Change Grants Program through November 21, 2024. Funds will support community-driven projects that build capacity for communities to tackle environmental and climate justice challenges, strengthen their climate resilience, and advance clean energy.

Access Resources From Our IRA Clean Energy Tax Credits Webinar

Ronald Newman, Senior Advisor for Inflation Reduction Act at the U.S. Department of Treasury, presented a webinar for the People & Places Collaborative on Clean Energy Tax Credits. The webinar was specifically targeted to community developers. Access the webinar recording and slides as well as the IRA Clean Energy Tax Credit fact sheets for nonprofits, businesses, and individuals. 

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