Sen. Lisa Blunt Rochester highlights bipartisan legislation passed in Washington to help ease the housing crisis nationwide and in Delaware.
The 21st Century ROAD to Housing package is comprehensive housing legislation that includes five bipartisan bills authored by Blunt Rochester.
"To help us address housing supply, build stronger communities, make housing attainable, unlock innovative housing models, and invest in smart tax policy,” said Blunt Rochester. “That's part of the 21st Century ROAD to Housing."
These efforts include increasing the Public Welfare Investment cap from 15% to 20% so banks can invest more in affordable housing projects.
They also establish grant programs for state and local governments to develop and implement housing plans and combat bias in appraisals to ensure all homeowners receive a fair valuation.
Blunt Rochester notes modernizing outdated laws was also accomplished.
"Things have changed a lot in a 100 years, and so that was part of our goal with this bill was to say we need to empower local governments to do what they need to do to fit the needs of today," said Blunt Rochester.
Those guidelines also cut red tape and help build more housing.
The law is designed to implement reforms to the HOME Investments and Partnerships making it easier to construct new affordable housing, and make new construction eligible under the Community Development Block Grants.
But Delaware State Housing Authority director Matt Heckles says there’s work to do to make these new laws effective.
"HUD is not currently staffed, not currently at the capacity level where it needs to be,” said Heckles. “And so I'm concerned that as we go to implement the authorities that you have given us in this legislation that the regulation process at a HUD, the funding has to follow."
Blunt Rochester agrees funding needs to be secured for some areas, but notes cutting red tape and modernizing some laws are not HUD or funding reliant.
