On September 2, AHTCC joined 23 organizations – all national for-profit and nonprofit corporations and associations that support the Housing Credit program – in co-signing a letter expressing concern about a proposed dramatic decrease in HOME program funding. The letter notes that while the Housing Credit has been successful at attracting private capital there are often soft-financing sources used to supplement equity raised through the Housing Credit program. HOME funding is often one of those sources. A significant cut to HOME funding would impact the amount of affordable housing being produced, “some proposed Housing Credit developments would not be financially feasible. Other Housing Credit developments would be more costly to complete because HOME funds will be replaced by more costly private loans.”
The full text of the letter is linked below.