Getting Ahead of the Coming Housing Downturn

Private Capital Is Waiting

Let’s Do It Right This Time

  • Affordable — The beneficiaries of SAEF are the tenants. The program must be designed to encourage maximum affordability by minimizing the cost and complexity of acquisition capital. Grant funding, or no-interest loans that are ultimately forgiven if affordability is maintained, will build into program structure savings that nonprofit owners can pass along to tenants in the form of affordable rents.
  • Frictionless — The more layers between appropriation and purchase, and the more regulatory burdens placed on CBOs, the less likely SAEF buyers will be competitive.
  • Durable — Short-term funding puts inordinate pressure on buyers to have more complicated “take out” funding in place before buying. SAEF should ideally have a loan term of 10 years or longer.
  • Adequate — SAEF must be funded at a level sufficient to acquire enough properties to make a significant increase in our affordable stock. It should provide a single source for both buying and near-term renovations.

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Advocate, policy shaper, believer in opportunity youth, affordable housing expert

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David Abromowitz

David Abromowitz

Advocate, policy shaper, believer in opportunity youth, affordable housing expert

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