Low-cost, no-cost housing policies: what President Clinton can do in the first 100 days

Article Abstract:

The new Clinton Admistration must take certain steps to improve existing housing programs which include reorganizing the Dept of Housing and Urban Development (HUD) and encouraging cooperation between agencies for HUD projects. Policies such as the HOME block grants for non-profit community housing development projects and the Low Income Housing Preservation and Resident Homeownership Act for maintaining affordable subsidized rental apartments can also be revived with adequate funding and increased government support. The implementation of housing programs which have been previously assigned the executive branch are also better left to local and non-profit agencies who are more committed to the success of these projects. The different alternatives to funding low-income housing projects are also described.

Analysis, Clinton, Bill, Social policy, Housing policy

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Bank CDCs: a new source of affordable housing finance

Article Abstract:

Bank Community Development Corporations (Bank CDCs) are entities funded by such financial institutions as banks, bank holding companies, and/or federal savings associations. This scheme is in accordance with special regulations that aim to promote bank equity investments in community development projects. Bank CDCs can be a good source of low-cost financing for various types of housing developments, may they be for single family or for multi-family houses, or for the construction of new houses or the rehabilitation of old ones. In order to qualify for Bank CDCs investments, it must be proven that they meet public purpose requirements and that they are for economic development or the construction of affordable housing.

Urban and community development, Innovations, Finance, Housing, Community development corporations, Bank loans

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