NAA & NMHC: President Trump's Executive Order Addressing Affordable Housing
The National Apartment Association and the National Multifamily Housing Council on President Trump's Executive Order
The official joint statement and a look at the White House Council on Eliminating Regulatory Barriers to Affordable Housing
Yesterday, the National Apartment Association (NAA) and the National Multifamily Housing Council (NMHC) released a joint statement in response to President Trump's Executive Order creating a White House Council tasked with identifying and eliminating federal, state, and local barriers on affordable housing development. Both NAA and NMHC applauded the Administration's focus on housing affordability, highlighting the level of severity existing around the issue.
Take a look at the official joint statement, here.
Named the "worst place in the nation" to find an affordable place to call home, central Florida is no stranger to the affordable housing crisis. Existing supply unable to keep up with current demand, coupled with unprecedented levels of population growth, the hole we are attempting to dig ourselves out of just continues to grow deeper. We know this is not a region-specific issue either. Having grabbed national attention, we can take some level of comfort in the fact that acknowledgment is the first step down the road towards developing a solution.
Here's everything you need to know about the White House Council on Eliminating Regulatory Barriers to Affordable Housing.
The council is tasked with working to assess and eliminate federal, state, and, local barriers that hinder the development of affordable housing. The council consists of members from across 8 Federal agencies and will be chaired by Secretary of Housing and Urban Development (HUD), Ben Carson. With multiple agencies engaged in this discussion, potential solutions and the ability to implement them will be brought to the table much faster.
The council will look at how Federal, State, and local regulations are affecting the costs associated with the development of affordable housing. It will then recommend ways to reduce the burdens associated with statutory, regulatory, and administrative regulations at all levels of government.
Here are some State and local examples of various rules, regulations, and processes the Council may examine:
- Statutory Burden(s): State and local tax policies that impact housing affordability, building/housing codes that set certain requirements for construction, rehabilitation, or occupancy of affordable housing. It may also pertain to new building designs, materials, or technology intended to reduce the cost of affordable housing.
- Administrative Burden(s): Process that a developer must go through to receive permission to develop affordable housing. This includes receiving approval from each government agency involved in the development process. It may include obtaining zoning changes, building permits, or occupancy permits.
- Regulatory Burden(s): Zoning, land development, construction, and subdivision rules/regulations that affect the use of the land.
Despite many questions left to be answered, this is a great first step to be taken in addressing a critical issue impact millions of Americans. Make sure to continue to check NAA's website for updates on the White House Council's activity and progress.