Key Takeaways
- A bipartisan bill, the ROAD to Housing Act, aims to boost affordable housing through regulatory reform.
- The act would expedite housing development and provide incentives for localities to adopt pro-housing policies.
- The bill addresses urgent needs in U.S. housing and is supported by the U.S. Conference of Mayors, as only 51.5% believe housing affordability will improve.
Legislation Aims to Tackle Housing Crisis
A bipartisan bill called the Renewing Opportunity in the American Dream (ROAD) to Housing Act has moved forward in the Senate Banking, Housing and Urban Affairs Committee. This legislation seeks to improve access to affordable housing and increase production through changes in regulatory frameworks. It aims to ease environmental regulations to expedite housing development and offers financial incentives to local governments that adopt policies to eliminate barriers to housing construction.
The bill has gained considerable support from various housing advocates, including the U.S. Conference of Mayors. Mayor Andrew Ginther of Columbus, Ohio, who has served as the president of the conference and chairs its Housing Task Force, emphasized the urgency of addressing the housing crisis in America. A survey conducted by the conference revealed that over 51.5% of mayors believe their cities’ housing affordability will decline in the coming year, with 94% of respondents noting their residents are dissatisfied with current housing costs.
The introduction of the ROAD to Housing Act is significant, marking the first time in over a decade that a housing bill has passed through the Senate committee. It incorporates at least 27 previously introduced legislative proposals. According to the Bipartisan Policy Center, this act could provide essential solutions to the challenges many cities face regarding housing.
The act includes several key provisions intended to facilitate housing development. Notably, it would exempt certain projects from environmental reviews mandated by the National Environmental Policy Act. Furthermore, it seeks to eliminate the long-standing chassis requirement for manufactured homes, which has been considered a hindrance to new construction. Additionally, the bill requires the establishment of guidelines for state and local zoning within three years to ensure adequate housing production across various income levels.
While the primary focus of the legislation is on regulatory adjustments, it also introduces the Innovation Fund. This initiative is a five-year, $200 million grant program aimed at entities demonstrating effective strategies to expand housing supply locally. The bill also proposes revisions to the Community Development Block Grant program, which allocates about $3.5 billion annually, ensuring it prioritizes localities facing higher-than-median housing costs and rapid growth. New reporting requirements for grant recipients will also be implemented to enhance accountability.
The ROAD to Housing Act encapsulates a collective effort to address the pressing issues of housing affordability and availability in the United States, representing a potential turning point in national housing policy.
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