BREAKING: Reps. Maloney, Omar Introduce the Affordable Housing Preservation Act

UHAB is proud to support Congresswoman Carolyn B. Maloney (D-NY) and Congresswoman Ilhan Omar (D-MN) in introducing the Affordable Housing Preservation Act. This act will fund the creation of community-owned cooperatives for low-income people. It will establish a $200 million grant program run by the Department of Housing and Urban Development that would support nonprofits to create and preserve affordable housing options by developing cooperatives for low-income individuals. This pilot program will empower tenants through the formation of resident-controlled cooperatives to ensure the needs of the community are met. 

“UHAB thanks Congresswoman Omar and Congresswoman Maloney for introducing this bill to provide much needed affordable housing,” Andrew Reicher, the Executive Director of the Urban Homesteading Assistance board (UHAB) said. “As the Congresswomen know, representing two states with rich co-op histories, Limited Equity Co-op Housing is a time-tested model that can provide permanently affordable housing and homeownership to solve our nation’s current housing crisis. The Affordable Housing Preservation Act of 2021 gives us the opportunity to demonstrate that.”  

UHAB provided support and advisement on the Affordable Housing Preservation Act, along with ROC USA, the National Association of Housing Co-ops, Grounded Solutions, and the National Low-Income Housing Coalition.

Read the full press release here.