Let’s Talk Housing Finance
The NLC and APA held the Housing Supply Accelerator steering committee, with core, regional, and national stakeholders, in Tacoma, WA. Here are some takeaways:
According to the National League of Cities, throughout the convening, it became clear that for local leaders to better address their local housing supply challenges increased capacity is needed. Suggested areas for increased capacity included connecting local leaders to experts and resources to assist with navigating the complexities of housing development finance and connecting local leaders to financial tools and resources of state, federal and national partners to address local housing supply challenges. A few of the tools highlighted include:
- The Office of the Comptroller of the Currency equips community and economic development stakeholders with guides to overcome barriers to financial inclusion. Additionally, the OCC’s Community Affairs Officers, situated nationwide, extend technical aid and training to local leaders through consultations, workshops, and conferences.
- The U.S. Department of the Treasury (Treasury) and The U.S. Department of Housing and Urban Development (HUD) released a guide, Affordable Housing How-To Guide: How to Use State & Local Fiscal Recovery Funds for Affordable Housing Production and Preservation, to assist cities with using SLFRF for affordable housing. HUD’s regional offices are an additional resource for local governments to obtain technical assistance on how to utilize HUD funds creatively.
- The Federal Home Loan Bank of San Francisco extends several community programs and grants within their member territories, supporting the expansion of affordable housing and facilitating homeownership opportunities.
- The National Development Council provides advisory services tailored to local governments, enabling them to define effective local housing strategies and realize successful housing development projects.
