Congresswoman Torres Introduces the Streamlining Affordable Housing Act To Lower Costs and Build Homes Faster

Congresswoman Torres Introduces the Streamlining Affordable Housing Act To Lower Costs and Build Homes Faster

Legislation would help states establish one-stop shops for affordable housing financing and consolidate housing agencies

Washington D.C. - Today, Congresswoman Norma Torres introduced the Streamlining Affordable Housing Act, legislation to help states simplify affordable housing financing so projects can move forward faster and at lower cost. The bill would provide federal grants to help states consolidate their financing programs and establish one-stop shops where builders can access state funding through a single, universal application process.

Affordable housing developers must often stitch together funding from multiple public programs, each with separate requirements and timelines. Research from UC Berkeley's Terner Center found that in California, each additional public funding source was associated with roughly four additional months in the development timeline and approximately $20,460 more in development costs per home.

To address this issue, Rep. Torres' legislation authorizes $90 million annually for fiscal years 2027 through 2029 to help states have the resources to reorganize fragmented financing systems, better coordinate programs, and make it easier for builders by creating a universal application for affordable housing financing. This past year, California took steps to create a new consolidated housing agency and a one-stop application process to reduce the delays and costs of navigating separate funding programs. Torres' Streamlining Affordable Housing Act would help these and similar efforts, and support those already making progress.

"Families in the Inland Empire need homes they can afford, but too many affordable housing projects get stuck in a maze of applications and bureaucracy before construction can even begin," said Congresswoman Norma Torres. "I've heard from developers who had to piece together nineteen sources of financing just to get one project off the ground. Every delay adds costs while families keep waiting. My bill would give states the resources to bring their financing programs together, create one application process, and get more affordable homes built so families can benefit."

"We appreciate Congresswoman Torres' longstanding advocacy for affordable housing and her willingness to listen to those working to build and preserve it. Her continued attention to the challenges facing our industry helps keep the need for affordable homes a priority." - National CORE President Michael Ruane

"We applaud Representative Torres' efforts to streamline access to affordable housing financing and support more efficient pathways to housing development. Reducing barriers and complexity in the funding process can help communities accelerate the development of much-needed affordable housing." - Maria Razo, Executive Director, Housing Authority of the County of San Bernardino

The Streamlining Affordable Housing Act would establish a grant program at the Department of Housing and Urban Development that states and territories can opt into. The formula grants would help states:

• Consolidate state financing entities and functions under one entity.

• Create a one-stop shop by simplifying access to funding through a single, universal application process and technical assistance for builders.

The grants would reward states that undertake or complete both consolidation and application streamlining, unlocking additional flexibility for funds to also help improvements to permitting, zoning, regulatory processes, build state capacity, and access to low income Housing Tax Credits.

Participation would be voluntary, with formula funding, subject to appropriations, allocated among states that opt in based on a base grant of $500,000 and an additional amount based on the state's population.

The bill would also require HUD to report to Congress on states' use of the funding, identify best practices, and recommend further improvements.

Bill Text

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