Coalition Letter to House and Senate Approps Re Real Estate THUD Grants in FR 2023

On December 8 NAR signed on to a coaltion letter to the leadership of the Hoase and Senate Appropriation Committees. The signatories representing for-profit and non-profit owners, operators, developers, lenders, property managers, housing agencies and housing cooperatives involved in the provision of rental housing, both affordable and conventional. The letter urges support for the inclusion, in a year-end omnibus appropriations bill, of a provision in the Senate draft of the Fiscal Year 2023 Transportation, Housing and Urban Development (THUD) Appropriations bill, that would improve our nation’s supply of affordable housing in communities of all types including urban, suburban and rural that are in desperate need of increased housing production.

The language included in the draft THUD bill would provide $200 million in competitive grants for state and local governments, and metropolitan planning organizations, to identify and remove barriers to affordable housing production. Recognizing and eliminating exclusionary policies, zoning and density restrictions, onerous parking requirements, and other regulations, is an important step in decreasing barriers to housing production, increasing desperately needed supply, and improving housing affordability for millions of American families.