LISC CEO Maurice A. Jones and Diane Yentel, CEO of the National Low Income Housing Coalition, make the imperative case for two key housing programs in an op-ed for Affordable Housing Finance. As a new nominee is poised to take charge of the Federal Housing Finance Agency, they write, we must absolutely safeguard the Housing Trust Fund and the Capital Magnet Fund, which have provided essential support for affordable housing creation in the midst of the affordability crisis.
Check out our top three reads of the week. They cover the challenges and opportunities facing American communities right now. This week, we’re delving into what makes a city bike-friendly for all residents, a look at the depths of America's affordable housing crisis, and a report that weighs the role recreation can have on attracting new residents to rural communities.
In an opinion piece for the Providence Journal, LISC Rhode Island ED Jeanne Cola stresses the need for a dedicated funding stream to alleviate the state’s affordable housing gap—a gap that is widening as fewer resources are funneled to housing solutions. Without such funding, she writes, “money spent on education, workforce training and economic development will not have the impact we hope it all will.”
When a collaborative composed of the Chan Zuckerberg Initiative, the San Francisco Foundation, LISC, Facebook and others announced their Partnership for the Bay's Future this week, the media sat up and took note. Fast Company, the Los Angeles Times and Bloomberg were just some of the outlets that touted the $500 million investment fund and LISC's key part in pushing for affordable housing and shared prosperity in the region.
In an op-ed for The Mercury News, Elliot Schrage, a VP with Facebook, and LISC CEO Maurice A. Jones describe how the combination of well-oiled partnerships, sufficient capital and supportive legislation is the key to making inroads in the Bay Area's housing crisis—which is what a new $500 million fund and collaboration called Partnership for the Bay’s Future strives to achieve. Quoting Matthew Desmond's influential book "Evicted," the authors emphasize how urgent this work is for the health of our society and economy: without a stable, safe home, "everything else falls apart."