King, Colleagues Urge Funding to Support Affordable Housing

Press Release

Today, U.S. Senator Angus King (I-Maine) joined 41 of his Senate colleagues in a letter to the Senate Transportation, Housing and Urban Development, and Related Agencies Appropriations Subcommittee urging them to provide at least $185 million in funding for the Neighborhood Reinvestment Corporation (NeighborWorks America) in order to address the nation's affordable housing crisis, which has grown worse due to the COVID-19 pandemic. In the letter, the Senators state that additional funding for NeighborWorks America will help create housing opportunities for more Americans to live in affordable homes.

"As you consider the Fiscal Year 2022 Transportation, Housing and Urban Development, and Related Agencies (THUD) Appropriations Act, we write to ask that you provide at least $185 million for the Neighborhood Reinvestment Corporation, commonly known as NeighborWorks America. With the nation's affordable housing crisis continuing to worsen, coupled with the effects of the COVID-19 pandemic, now is the time to increase our investment in ensuring that Americans have access to reasonably-priced, quality housing options," wrote the Senators.

"Given the program's demonstrated record of success in increasing access to affordable housing and continued bipartisan support in Congress, we request that you provide at least $185 million in funding. With additional funding, NeighborWorks will be able to increase grants to network community-development organizations, leverage additional investments from private sources, and create opportunities for more Americans to live in affordable homes," continued the Senators.

NeighborWorks America is a Congressionally-chartered, national nonprofit, that helps create opportunities for Americans to live in affordable and safe homes by providing community development organizations in all fifty states with financial resources and counseling services. In 2020, NeighborWorks created and maintained 43,800 jobs, repaired 76,200 homes, and empowered 23,400 new homeowners. That same year, NeighborWorks provided 149,200 families with vital housing and counseling services that helped prospective homebuyers and renters make informed housing decisions. Additionally, NeighborWorks leverages $59 in private capital for every $1 appropriated to the program.

In Maine, NeighborWorks distributed more than $2 million in grants during FY 2020, supported thousands of rental homes across the state, and helped hundreds of Mainers either become new homeowners, or preserve or rehabilitate their homes.

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