Policy

LISC continues to maintain its advocacy with HUD and the Congress to help establish a policy environment that is conducive to preserving housing affordability, especially the participation of nonprofits. This work must be an integral element of any strategy to achieve a large-scale result, and LISC establishes a level of credibility that enhances its ability to get results. LISC continues to work closely with other preservation advocates in addressing a variety of current preservation issues.

The most familiar threats to affordability consist of prepayment of subsidized mortgages after 20 years, the expiration of long-term project-based Section 8 contracts, the emergence of Low Income Housing Tax Credit properties from their 15-year compliance period, and physical deterioration due to weak markets or dysfunctional ownership. Another area of vulnerability is the maturing of 40-year subsidized mortgages on Section 236 and Section 221(d)(3) properties, and there is no current provision in federal law to protect the affordability of those properties when that happens. LISC is supporting a proposal to provide enhanced vouchers to protect tenants when these mortgages expire, which the Government Accountability Office has estimated could effect over 101,000 affordable apartments.

LISC's policy work, along with the efforts of other organizations, has been successful in protecting Section 8 rental assistance. LISC has also worked with a coalition of housing advocates in support of exit tax relief measures supported by the Millenial Housing Commission. LISC has also been involved in efforts to identify obstacles and recommend new strategies for the preservation of rural rental housing under the Rural Development Section 515 program.

LISC has continued its active participation in preservation policy development, through consultations with Capitol Hill staff and other preservation-oriented groups. In addition, LISC plays a key leadership role as a facilitator in the National Preservation Working Group, a collaborative of nonprofit preservation stakeholders convened by the National Housing Trust.