The White House has unveiled its plan for addressing the unaffordable housing crisis in America. The plan seeks to make sure that every American has access to housing that is affordable and up to the highest standards of safety and quality. The plan also encourages state, regional, and community governments to invest in and support affordable housing initiatives through incentives and subsidies. The White House Plan: Addressing America's Unaffordable Housing Crisis
Through the White House Opportunity and Revitalization Council, the Trump Administration has launched the White House Opportunity Plan (WHOP). The plan is aimed at improving the economic and social mobility of low-income Americans by eliminating barriers to homeownership and providing tax incentives for investments in Opportunity Zones. The White House Opportunity and Revitalization Council Announces the White House Opportunity Plan
The White House recently released an interactive Opportunity Zones Map to assist potential investors in locating and selecting eligible areas for their investments. Along with the Opportunity Zone Map, the White House has also launched the Strengthening America’s Communities Initiative, which seeks to further support economic expansion and job creation in these areas. The White House Releases Opportunity Zones Map and Strengthening America’s Communities Initiative
To further promote investments in Opportunity Zones, the White House has released an Investment Strategy Paper outlining the strategies for creating new investments, recruiting business owners to invest in the zones, and improving access to capital. The document also includes a list of the incentives that investors can receive for their investments. The White House Releases Investment Strategy Paper on Opportunity Zones
In 2019, the White House took action to expand housing choice and homeownership opportunities in the United States. Specifically, the White House announced a series of initiatives to increase the supply of affordable housing and reduce barriers to homeownership. This included actions to increase funding for housing and community development programs, expand access to credit, and strengthen the regulatory environment for housing finance. White House Takes Action to Expand Housing Choice & Homeownership
The White House is taking steps to end homelessness in the United States. The Administration has created a new initiative, "Opening Doors: Federal Strategic Plan to Prevent and End Homelessness." This plan seeks to reduce homelessness in America by 2027 by focusing on improving access to safe and affordable housing, improving the coordination of local systems, developing preventative initiatives, and establishing an Evidence-Based Practices Clearinghouse to share best practices. The White House Aims to End Homelessness in America
The White House also launched the Neighbors for Homeownership and Stabilization Initiative in 2018. This plan seeks to maintain and expand access to housing by providing incentives and assistance to communities for investment in housing. The initiative also seeks to strengthen connections between government and community-based housing organizations, which could help increase access to affordable housing. The White House Launches Neighbors for Homeownership & Stabilization Initiative
As part of its commitment to small businesses, the White House announced that it will join the Small Business Innovation Research (SBIR) initiative. Through the initiative, the Administration will invest $20 million to help small businesses develop technologies that could positively impact affordable housing, energy efficiency, and other areas. The White House Joins Small Business Innovation Research Initiative
The U.S. Department of Health and Human Services recently launched the Veterans Affairs Homeownership Initiative (VAHI). The initiative is a public-private partnership that seeks to increase access to homeownership opportunities for veterans and their families. The program provides homeownership counseling, financial education, and other services to help veterans take advantage of the current low mortgage rates to purchase or refinance their home. HHS Launches Veterans Affairs Homeownership Initiative
The White House also recently announced the Affordable Housing Tax Credit Plus (AHTeC+). The program is a new tax incentive that seeks to encourage more investments in affordable housing. Through the AHTeC+ program, investors can receive up to a 50% tax credit of the cost of acquisition and construction of a project. The program also includes financial incentives for developers who partner with non-profit organizations for projects in low-income housing areas. The White House Announces the Affordable Housing Tax Credit Plus (AHTeC+)
In April of 2019, the White House announced the Smart Urban Housing Initiative. This program makes cities eligible for grants to create new housing opportunities in urban areas. The initiative also provides assistance to local governments to improve zoning laws that limit the development of affordable housing. The White House Launches Smart Urban Housing Initiative