Evernorth’s Post

🏘️ Exciting News for Affordable Housing! 🚀 The U.S. Treasury has just unveiled transformative steps to bolster affordable housing availability across the nation! 🇺🇸 By leveraging unspent COVID-19 aid, state and local governments now have the green light to fund a broader range of housing projects. This initiative is a crucial part of the Biden administration's efforts to tackle the growing challenge of housing affordability, a major concern impacting American families and the economy at large. Here's the scoop: Expanded Funding: The Treasury is now allowing the use of funds from the $350 billion State and Local Fiscal Recovery Fund for housing projects catering to families earning up to 120% of the area's median income, significantly up from the previous 65% cap. Broader Eligibility: Funds can support projects aligned with federal housing programs and those backed by Fannie Mae and Freddie Mac, aiming to house essential workers like teachers, firefighters, and nurses. Looming Deadlines: With approximately $40 billion still up for grabs for housing projects, it's crucial that these funds are allocated by the end of 2024 to avoid reverting to the federal government. Emergency Rental Assistance: An additional provision now allows the redirection of COVID-era Emergency Rental Assistance funds towards the pre-development and land acquisition costs for low-income housing projects. This significant move is expected to make a "modest but important impact" on increasing housing supply, according to Deputy Treasury Secretary Wally Adeyemo. With home prices predicted to climb, this initiative is a timely effort to alleviate housing costs for American families and boost the economy. Let's spread the word about this vital step towards more affordable housing for all! 🏡💖 #HousingForAll #AffordableHousing #EconomicRecovery https://lnkd.in/gsvcUqAk

As recently related in another post, a well respected developer CEO told me that the 2024 affordable housing financing outlook was the worst she has ever seen. But now, this new initiative could be a nice backstop during this dry year if local jurisdictions are committed to acting fast and utilizing leftover ARPA money for affordable housing. Plus, the continuing HUD risk sharing program can also keep projects moving forward during these uncertain times. #affordablehousingfinance #HUD #arpa #california https://lnkd.in/gQdYt9aG.

Localities have until the end of 2024 to allocate funds and until the end of 2026 to spend them. Read more: https://ow.ly/7q3U50QQ7Qk #americanrescueplanact #affordablehousing #housingcrisis #housingcrisis #housinghumans

Free Housing Grants: What You Need to Know Looking for help with housing? Free government housing grants can provide the support you need. Here are a few key steps to get started: =>Check Your Eligibility: Grants are available for low-income families, seniors, veterans, and those in need of housing assistance. =>Find the Right Program: There are various programs like HUD and Rural Housing Assistance tailored to different needs. =>Submit Your Application: Gather necessary documents and apply through the official government portals. =>Follow Up: After applying, ensure you follow up to track your application status. These grants can be life-changing for those in need of safe and affordable housing. Start the process today! #HousingGrants #LowIncomeHelp #FreeHousing #GovernmentGrants #AffordableHousing #HomeAid

Will the 2024 federal budget make a difference for  Indigenous housing, when the government has hardly even begun to address the $349 billion infrastructure gap uncovered by the Assembly of First Nations? The amount allocated in the budget last year was just a drop in the bucket when it comes to what’s needed, and, Indigenous communities continue to endure declining conditions.  However, other solutions exist. Indigenous funds are available and private capital is poised to assist, but we need people in power to make policy changes that will allow our communities to access those sources of funding so we can tackle the housing crisis head-on. More on last Friday’s Housing Plan announcement here: https://bit.ly/4db9sur By Nojoud Al Mallees at The Canadian Press cc' Tracee Smith

BC gets $2B in aid from the Feds for attainable housing. But, what happened to the exciting 2017 $75B “National Housing Strategy” that was supposed to be a multi year strategy to ensure affordable housing for Canadians? Not much. Most would say the last 7 years has produced exactly the opposite. A shrinking housing inventory and a growing population and here we are. Dire. What does $2B get you BC? Think Oakridge Mall for perspective. Thanks Trudeau. By the way, the PM recently said on the record “….housing is really the mandate of the Provincial governments”. Its a National Strategy with headline grabbing numbers in an election platform and the Provinces’ problem when things go sideways. https://lnkd.in/dU8WdiWC

The Federal Government has made a large commitment of $12.3 billion to tackle the nation's housing crisis. This initiative includes significant funding aimed at boosting social housing, supporting infrastructure, and providing emergency accommodations for vulnerable populations. Key highlights: - A $9.3 billion national agreement to expand social housing over the next five years. - An additional $1 billion allocated to states and territories for infrastructure to support new housing developments. - $1 billion dedicated to providing emergency accommodation for women and children escaping domestic violence. This approach promises to stimulate construction, increase housing availability, and support community infrastructure, reflecting a concerted effort across all levels of government to ensure every Australian has access to affordable, quality housing. https://lnkd.in/gwQ5QeGw #HousingCrisis #SocialHousing #Infrastructure #FederalBudget2024

What exactly is a housing emergency? John Mills gives a perspective from Fife Council and ALACHO - we need a new plan - almost 10,000 children in temporary accommodation in Scotland in 2024 is a shameful statistic for our nation and our communities and families - people are at the heart of this current crisis #ukhousing #investment #socialhousing #betteroutcomes #healthandeducation

The U.S. affordable housing crisis continues to affect newcomers and other low-income families nationwide. A summary update of a September 2023 RHS report emphasizes the key indicators of the continuing crisis and stresses the need for well-funded housing assistance programs as central to viable solutions. Read the full summary of findings: https://lnkd.in/emrax95d

Federal Government Funds Vancouver Affordable Housing #vancouverrealestate #vancouverrealestateforsale #vancouverrealestatemarketing #vancouverrealestateagent #vancouver #vancouverrealtors #vanre #vancouverhomes #yvrhomes #realestatecanada