A federal housing law has been passed in the USA, with provisions for the co-op sector welcomed by the National Cooperative Business Association (NCBA).
The bipartisan 21st Century Road to Housing Act has been enacted into law following final House passage of the bill, and NCBA says it brings “a significant victory for housing co-ops, resident-owned communities and community land trusts”.
The largest piece of housing legislation in decades, the act includes provisions that would:
- Reform the US Department of Housing and Development (HUD) housing counselling and financial literacy programmes
- Create a HUD pilot programme to support state, local and tribal whole-home repair programmes
- Establish a new innovation fund to encourage local and tribal housing supply reforms
- Create a Reside pilot program to support the conversion of vacant commercial and industrial properties into affordable housing
The bill also includes several additional wins for co-operative and shared-equity housing advocates, says NCBA.
It includes provisions that would:
- include a co-operative housing developer on a new federal task force focused on state and local zoning frameworks to better support affordable housing production.
- reauthorise the Preservation and Reinvestment Initiative for Community Enhancement (Price) grant programme for seven years to support the repair, preservation and improvement of manufactured homes and manufactured housing communities.
- reauthorise and reform the Home Investment Partnerships Programme, including changes intended to expand eligible uses and provide greater flexibility for affordable housing production and preservation.
- create new technical assistance and preservation tools for USDA rural housing programmes, including support for multi-family housing preservation and potential conversions of USDA-funded properties.
“Together,” said NCBA, “these provisions represent meaningful progress for housing co-operatives, resident-owned communities and community land trusts at a time when communities across the country are seeking durable, community-centred responses to the affordable housing crisis.
“NCBA and its partners will continue working with policymakers and agency staff to support strong implementation and ensure its programmes and funds become accessible.”
