Potentially $70 billion supporting shared equity homeownership expansion at scale.

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** CALL TO ACTION: ENDORSE & ADVOCATE NOW
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** House Announces $600+ Billion for Housing as Infrastructure
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Potentially $70 billion supporting shared equity homeownership expansion at scale.
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, introduced a comprehensive and holistic legislative housing package ([link removed]) to address our nation’s housing crises, holding the advancement of racial equity as a leading objective. Relevant details of the three bills included in the housing package are as follows:

* The Housing is Infrastructure Act of 2021 ([link removed]) as proposed provides a historic investment of over $600 billion in equitable, affordable, and accessible housing infrastructure (and includes the Restoring Communities Left Behind Act; see details below)

* The Downpayment Toward Equity Act of 2021 ([link removed]) as proposed helps address the U.S. racial wealth and homeownership gaps by providing $100 billion over a decade toward downpayment and other financial assistance for first-generation homebuyers to purchase their first home. While this bill was introduced as a standalone bill to garner endorsers and Congressional sponsors, it is now included in the larger Housing is Infrastructure Act and authorized for $10 billion.

* The Ending Homelessness Act of 2021 ([link removed]) would end homelessness and significantly reduce poverty in America by transforming the Housing Choice Voucher program into a federal entitlement, so that every household who qualifies for assistance would receive it.

Click Here to Join Us in Endorsing All Three Bills ([link removed])


** Wins for Expanding the Scale of Shared Equity Homeownership
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* The Housing Is Infrastructure Act includes $35 billion for the HOME Investment Partnerships program and $15 billion for the CDBG program, the dominant federal funding sources used by our network members. To put the scale of this expanded investment in perspective, HOME is typically funded annually under $2 billion and CDBG is typically funded around $3.5 billion.

* The Downpayment Toward Equity Act, which is incorporated into the Housing Is Infrastructure Act, includes shared equity homeownership as an eligible use of funds. It is authorized for $10 billion in the Housing is Infrastructure Act, where 75% is allocated to states and 25% will be a competitive grant program. These funds can be used as subsidies in shared equity homes rather than as direct assistance to homebuyers. The bill also gives the HUD Secretary authority to increase the typical maximum amount of $25,000 when funds are used for subsidy in a shared equity home.

* The Restoring Communities Left Behind Act, which was introduced in February in the House ([link removed]) and just weeks ago in the Senate ([link removed]) , has been slightly modified and incorporated into the Housing Is Infrastructure Act. It is a competitive grant program and authorized for $10 billion. It targets deeply disinvested communities, permitting local partnerships led by a nonprofit to conduct an array of redevelopment and stabilization activities, including creating community land trusts and developing shared equity homes. It also includes $250 million for SHOP.

Grounded Solutions Network's VP of National Strategy, Emily Thaden, will be hosting a webinar on August 3rd at 2:00 EST to discuss these new developments and answer questions.
Register for the Webinar ([link removed])


** What We Need Now
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The current legislative housing package builds upon the housing components ([link removed]) of the Administration’s American Jobs Plan, substantially expanding that plan with additional affordable housing and racial equity initiatives and funds. Chairwoman Waters has asked that all affordable housing industry leaders and advocates work now to create a groundswell of political support and pressure like never before. Every housing and community development, racial justice, or grassroots organizer and every place-based organization in the country should endorse these bills as a united front, signaling to Congress and the Administration that robust and comprehensive resources for housing cannot be cut from the infrastructure package as it goes through the reconciliation process in the coming
months.

We need you—and all our members and allies— to do your part and prioritize taking action. Together we can secure the critical resources required to make our ten-year vision for "Lasting Affordability in Housing Now" a reality at scale. We have a once in a lifetime opportunity before us and need all voices united in exercising power now. Otherwise, critical resources for shared equity homeownership—namely the Restoring Communities Left Behind, Downpayment Towards Equity, and the HOME and CDBG resources—could be cut entirely or funded at far lower levels than our bold vision for scale requires.

What all of us must do:
1. Sign your organization on ([link removed]) as an endorser of the bills.

2. Forward this email to your networks—far and wide—and ask them to endorse the bills.

3. Make the case for including resources to expand shared equity homeownership.
+ Contact your Senators ([link removed]) and Representatives ([link removed]) by phone calls, emails, and meetings.
+ Use these Communications ([link removed]) for your messages.


** Details of the Housing Package
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Housing Is Infrastructure Act Summary. This bill aims to address our national eviction and homelessness crisis, increase access to homeownership, support a robust recovery from the pandemic by creating jobs, address climate change, and improve housing stability. Investments include:
* $150 billion for new incremental Housing Choice Vouchers, $50 billion for new Project-Based Rental Assistance, and $5 billion for PBRA preservation grants.
* $75 billion to fully address the capital needs of public housing
* $75 million for multifamily housing greening and preservation
* $45 billion for the National Housing Trust Fund
* $35 billion for HOME Investment Partnership
* $27 billion to establish and seed the National Investment Authority, an infrastructure bank
* $20 billion for lead and other hazard reduction
* $15 billion for CDBG
* $15 billion for grants for zoning and land use improvements to eliminate exclusionary zoning
* $12.5 billion to the Capital Magnet Fund
* $11.9 billion for Flood Mitigation Assistance grants
* $10 billion for Restoring Communities Left Behind program
* $10 billion in first generation down payment assistance
* $10 billion for a new Community Revitalization Fund
* $10 billion for supportive housing for persons with disabilities and the elderly
* $5 billion for fair housing enforcement
* $5 billion for rural multifamily preservation and revitalization demonstration program
* $2 billion for Native American block grants
* $500 million for rural single-family homeowner repair loans and grants
* $500 million for a pilot to expand small-dollar lending

Ending Homelessness Act Summary. Making vouchers an entitlement (i.e., “universal vouchers”), this bill aims to end homelessness and significantly reduce poverty by:
* expanding and transforming the Housing Choice Voucher program into a federal entitlement that would be phased in over eight years;

* prohibiting landlords from discriminating against renters based on source of income and veteran status;

* appropriating $10 billion in funding over 5 years for the Housing Trust Fund and McKinney Vento grants to fund the creation of permanent affordable housing for people experiencing homelessness;

* providing funding for outreach and case management to connect persons experiencing homelessness to needed services, as well as for technical assistance to help states and local jurisdictions better align their healthcare and housing strategies;

* permanently authorizing the McKinney-Vento Homeless Assistance Act, which authorizes the main homeless assistance grant programs under HUD’s jurisdiction;

* permanently authorizing the U.S. Interagency Council on Homelessness, which serves a critical role in coordinating the overall federal strategy to end homelessness.

Grounded Solutions Network advocates on behalf of our members on national, state, and local policy issues. Staff represents our members in federal policy coalitions and campaigns that include advocacy for affordable housing and community development funding, the HOME program, tax credits, fair housing and fair lending, disaster recovery programs, and opportunity zones. We submit public comments and sign-on letters and meet with members of Congress to advance the field.
Join Us! Become a member now. ([link removed])


** Where we live matters.
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** We bring together an extensive network of partners and member practitioners from local communities who have a deep understanding of best practices in community land trusts, shared equity housing, local housing policies such as inclusionary zoning, and more.

At Grounded Solutions Network, we know what policies and strategies work to build and preserve housing opportunities, and we help communities use them.
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