21st Century ROAD to Housing Act provides boost for affordable housing industry

On July 11, the 21st Century ROAD to Housing Act (the Act) became law after President Trump declined to sign or veto the bill. The legislation is intended to increase the housing supply and improve housing affordability through a variety of reforms. Although the Act has many components, here are a few major changes that could affect the affordable housing and tax credit industry.

• Changes to Environmental Review Requirements...
• Changes to CDBG Funding...
  
• Changes for Planning Activities...
• Changes Still Possible, Elusive for BABA...
• Changes to Section 3 (Procurement) Requirements...

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Leo's notes: As we’ve mentioned these last few weeks, the opportunity now is to translate federal reform into local production. The law will not solve high land, infrastructure and construction costs on its own, but reducing regulatory barriers and rewarding communities that actually add housing moves federal policy in the right direction: toward making it easier and less expensive to build the homes Wisconsin’s workforce needs...