Dear [title] [last name],
I am asking state leaders to take bold action to prioritize affordable housing, and adopt the proposed plan for $5.7 billion in American Rescue Plan funds that includes $575 million for affordable housing.
The housing funding should include:
- $460m for New Housing Development and Housing Rehabilitation;
- Gap financing to produce new housing (rental and single-family), convert existing housing to affordable housing, and provide direct financial assistance to housing projects adversely impacted by increased construction costs;
- Fund urgent repair and comprehensive rehab of vacant or substandard rental and owner-occupied housing; and
- These funds would require a match (80/20 for Tier 1 and 2 counties and 60/40 for Tier 2 counties).
- $40m for the Workforce Housing Loan Program; and
- $75m for down payment assistance
- $8,000 for eligible first-time homebuyers; and
- $15,000 for eligible first-time homebuyers who are public school teachers.
It is important to prioritize affordable housing as part of a post-COVID economic recovery process. Please adopt the funding plan proposed by Governor Cooper, and continue making bold investments in equitable and affordable housing.