A bipartisan bill introduced by two North Carolina members of Congress would let states apply federal COVID relief money to affordable housing efforts.
The LIFELINE Act was introduced by Democratic Congresswoman Alma Adams and Republican Representative David Rouzer.
The bill would make American Rescue Plan funds available for affordable housing developments receiving low-income housing tax credits.
In a video announcing the legislation, Adams said the bill would remove statutory barriers currently in place to ensure that “the pipeline of affordable housing units will remain robust.”
Adams says it would protect and preserve affordable housing developments that rely on low-income housing tax credits.
“The Lifeline Act solves another piece of the puzzle and brings us closer to a future where every American family can afford a decent, affordable place to live," says Adams.
Local statistics back up Adam's claim that communities are facing an affordable housing crisis. Data shows that nearly half of renter households in Forsyth County are “cost-burdened,” meaning they spend more than 30 percent of their income on housing costs.
And officials in the High Country are holding forums on how to best address spiraling housing costs as population and development continue to grow.
According to a news release, North Carolina is one of 20 states planning on using federal recovery funds for affordable housing.