City Of St. Louis: City Of St. Louis Receives Nearly $50 Million In Low Income Housing Tax Credits (LIHTC) To Construct And Preserve Nea ...

St. Louis MO

21 December, 2021

12:46 PM

Description

Press release from the City of St. Louis: December 21, 2021 Jones' administration is partnering with HUD and USICH to add new units of affordable housing into the development pipeline by December 31, 2022. Today, the City of St. Louis announced that it has received nearly $50 million in Low Income Housing Tax Credits (LIHTC) to help fund $100 million in affordable housing construction, renovation and preservation of nearly 600 units across the City. "Expanding affordable housing is critical for St. Louis working families," said Mayor Tishaura O. Jones. "Addressing root causes of crime like housing instability will make St. Louis safer, and the resources my administration has procured will help increase the availability of affordable housing in our city." The projects receiving funding include: As a member of the Department of Housing and Urban Development's (HUD) House America initiative, Mayor Jones' administration is partnering with HUD and the US Interagency Council on Homelessness (USICH) and working to add new units of affordable housing into the development pipeline by December 31, 2022.  House America is the federal government's direct response to the crisis of homelessness, which was rising even before the arrival of the COVID-19 pandemic. In March, HUD released its 2020 Annual Homeless Assessment Report Part 1 to Congress [www.huduser.gov] which found that more than 580,000 people experienced homelessness in the United States on a single night in January 2020, prior to the pandemic. COVID-19 has created greater urgency to address homelessness, given the heightened risks faced by people experiencing homelessness. COVID-19 has slowed re-housing activities due to capacity issues and impacts on rental market vacancies. This press release was produced by the City of St. Louis. The views expressed here are the author's own.