Senators introduce Neighborhood Homes Investment Act to expand homeownership opportunities and revitalize communities
500,000 deteriorated homes could be renovated and resold under the new Senate bill
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WASHINGTON, Jan. 28, 2021 /PRNewswire/ Bipartisan legislation introduced today would create a new federal tax credit to fuel development and rehabilitation of single-family homes and attract $100 billion in development activity to underserved rural and urban communities across the country.
The Neighborhood Homes Investment Act (NHIA), introduced by Senators Ben Cardin (D-MD) and Rob Portman (R-OH), and co-sponsored by Senator Tim Scott (R-SC), Senator Todd Young (R-IN), Senator Chris Coons (D-DE) and Senator Sherrod Brown (D-OH), would encourage private investment in an estimated 500,000 homes that currently cannot be developed or rehabilitated because the costs to do so exceed the value of the home. The tax credit supp
Lawmakers propose tax credits for struggling homes and businesses accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
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SAN JOSE, Calif., Jan. 28, 2021 /PRNewswire/ Accion Opportunity Fund, the nation s leading nonprofit Community Development Financial Institution (CDFI) to small businesses, is working swiftly with its partners at Silicon Valley Black Chamber of Commerce and San Francisco African-American Chamber of Commerce to support Bay Area Black-owned businesses with advising, grants, and funding support, including Paycheck Protection Program (PPP) loans available now from the federal government. This comes as the nonprofit lender works to fulfill its $1 Billion
commitment to investing in marginalized businesses nationwide by 2023.
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During the first round of PPP lending, Accion Opportunity Fund originated $1.5 million in loans for 115 Black-owned small businesses, partnering with the Chambers to provide counseling and expert advice on the PPP loan application process to their members.
Biden administration brings a new focus on housing policies washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.
Housing: A first order of business for Biden
Michele Lerner, The Washington Post
Jan. 28, 2021
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Ramping up the availability of coronavirus vaccinations and addressing the fiscal crisis facing many Americans - including housing issues - are the current priorities for President Joe Biden and his administration.
An array of potential new housing policies proposed during his campaign could help first-time buyers, increase the affordability of housing and address discrimination. Housing policy is another way to address social justice and income inequality issues, said Tim Rood, head of government and industry relations at SitusAMC, a company that provides technology, data analytics and consulting services to lenders. Homeownership is a wealth creation opportunity that has gotten away from too many people in this country.