July 23, 2020

Your Top Five Updates for July 2020

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News and public policy move quickly, and keeping you up to date is a top priority. Subscribe to News From Enterprise to have updates like this sent straight to your inbox.

1. What Happens When You Give Renters Money? They Spend It on Housing.

Recent evidence shows that renters, when given the opportunity to do so, will use available funds to remain in their homes. Maintaining income supplements like expanded unemployment insurance and stimulus payments that allow people to stay current on their rent and/or meet other household needs is responsible policy. The cost of letting this support expire is likely to be much higher.

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2. Enterprise Receives $60 Million New Markets Tax Credit Award

Enterprise has been awarded $60 million in New Markets Tax Credit (NMTC) allocation from the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund). With this latest allocation, Enterprise has received more than $1 billion in NMTC awards, one of only two organizations to reach this milestone.

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3. House Appropriations Committee Advances Three FY21 Funding Bills

The House FY21 Transportation, Housing and Urban Development legislation would provide $50.6 billion for HUD, an increase of $1.5 billion above the FY20 enacted level and $13.3 billion above President Trump’s 2021 budget request. Many critical affordable housing and community development programs received increases, including HOME Investment Partnerships, Community Development Block Grants and the Section 4 Capacity Building Program. All three of these bills will now move to the House floor for a vote later this month.

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4. Unpacking Racial Disparities in Property Taxes

New research finds that Black and Hispanic property owners have a 10-13% higher tax burden relative to white owners, even when tax rates and jurisdictions are held constant. This essentially shows that households of color are paying more relative to their housing value as compared to their white neighbors. As with most racial disparities, these findings are deeply rooted in the racist housing policies of the past, which allowed property assessments to be used to discriminate against Black landowners.

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5. New Justice-Involved Housing Research Presents Potential Solutions

Enterprise New York’s Justice-Involved Housing Initiative and a team of students from NYU Wagner’s Master of Public Administration program have released new research into the greatest barriers to housing that justice-involved individuals face, the services most important to ensuring successful reentry after incarceration and best practices for financing the development of affordable housing with supportive services.

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Plus, Check Out Recordings of Our Webinars and Online Events

We know that so many of the conferences on your calendar are now on hold. Check out our recent and upcoming webinars and virtual events. 

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