Endorses the 1949 Housing Act goal of a “decent home and a suitable living environment for every American family,” and recommends an approach to the distribution of federal rental subsidies that would prioritize the most vulnerable households and reward housing providers who show the best results;
Proposes a reformed system of housing finance in which the private sector would play a greater role in bearing credit risk and providing mortgage funding.
Because the Low Income Housing Tax Credit program is the bedrock of production of affordable units, the Commission recommends increasing production by expanding LIHTC by 50% over current funding levels, and
Because of the successes of HPRP’s Rapid Re-Housing Demonstration, the Commission recommends federal funding to minimize harmful housing instability by providing short-term emergency assistance for low income renters who suffer temporary setbacks.
“The Commission’s recommendations are music to the ears to those working to end homelessness. Their recommendations to increase capacity for the production of affordable units, and to target rental assistance for the most vulnerable, are particularly relevant.”