U.S. Department of Housing and Urban Development Washington, DC
Availability:
HUD USER, P.O. Box 23268, Washington, DC 20026-3268; phone (800) 245-2691; fax (202) 708-9981; or TDD (800) 927-7589
Notes:
Product of the Joint Venture for Affordable Housing. In-house document, no contract or grant number.
Descriptors:
State agencies. State aid. Grants to local governments. Legislation. Policy development. Affordable housing. Housing financing. Tax incentives. Revenue allocation.
Abstract:
This report introduces State executives and legislators to the roles they can play in making housing more affordable for first time home buyers. It describes many existing State actions to hold down housing costs and provides some pointers on launching State affordable housing action programs. The major areas through which States can influence affordable housing are through leadership, laws and regulations, infrastructure assistance, housing finance, and tax policies. Hearings, housing policy analyses and research projects fall under the leadership category. Among laws already passed in some States are land - related actions, construction - related actions, and finance and labor - related actions. Infrastructure has been provided by States either directly or through financial assistance to local governments for such facilities as roads, transit, water treatment and distribution, schools, and health facilities. In the finance area, the major sources of capital have been State taxes, bond sales, and pension funds. State tax and revenue actions for affordable housing have included provision of access by local governments to revenue sources, allowing deductions for mortgage interest, permitting local tax abatements, and other measures. States with active affordable housing programs generally begin with an effort to identify their own problems and special needs. Tabular data are given. A matrix of affordable housing actions by State is provided.
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