With release of the legislative text and details of the spending proposals from the House Financial Services Committee on September 9, public housing is slated to receive the largest amount of funding authorized among housing programs in the expected budget reconciliation package, S. Con. Res. 14, the Concurrent Resolution on the Budget for Fiscal Year 2022. CLPHA has prioritized recapitalizing the public housing portfolio in its recommendations to the Congress and the administration this year.
In Title IV – Financial Services Committee, Subtitle A-Creating, Preserving, and Greening Affordable Housing of the committee proposal, $77.25 billion is authorized to address the capital needs backlog of public housing, with an accompanying $2.75 billion in grants structured to be similar to the Choice Neighborhood Initiatives Program specifically for public housing.
In total, the committee proposal authorizes over $300 billion in funding to housing programs. The Financial Services Committee is expected to mark up the proposal on Monday, September 13, for consideration of amendments, and CLPHA will provide a more detailed review of the proposal for housing programs subsequent to the markup.
