City leaders in New Orleans want to allocate a chunk of money from the general fund for affordable housing needs. The proposal is on the ballot in November as Charter Amendment 1.The proposal is to dedicate 2% of the city’s budget each year for affordable housing projects. That’s about $17 million to $20 million for the creation of affordable, moderate and low-income housing initiatives.”Other opportunities for extra money would be fortified roofs. Homeowners who need fortified roofs. We know that will lower everybody’s insurance, and so they can tap into this money using the housing trust fund to put roofs on their homes,” said Councilwoman Lesli Harris.It is not a new tax; it’s money already in the general fund. Basically, like a savings account, they would set some money aside to be used only for affordable housing needs. Harris says housing is fundamental when it comes to raising the quality of life in the city. “I live in a neighborhood where I see people pushed out of rental homes, where I see homeowners whose houses have fallen into disrepair because they can’t afford essential repairs, so housing really is the basis of everything,” Harris said. However, the nonprofit Bureau of Governmental Research is against the proposal.President and CEO Rebecca Mowbray applauds city leaders for trying to address the housing crisis but says research shows it’s not a good idea to lock in a chunk of money for one cause. She says it takes away the flexibility. “Once something goes into the charter, it’s hard to undo or to adjust. It would need to go before voters to do that, and we don’t know what the city may be experiencing one or two years down the road. The city may need that money to pay for other needs. What if there are ongoing expenses that the city hasn’t budgeted for,” Mowbray said. But Harris feels exclusively dedicating a portion of the city’s general fund, is the best way to show long term commitment to a crisis that seems to be getting worse with inflation, and soaring insurance premiums. The money will be operated by New Orleans Redevelopment Authority and Finance New Orleans. There will also be an advisory committee to oversee the process for more transparency.
City leaders in New Orleans want to allocate a chunk of money from the general fund for affordable housing needs.
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The proposal is on the ballot in November as Charter Amendment 1.
The proposal is to dedicate 2% of the city’s budget each year for affordable housing projects. That’s about $17 million to $20 million for the creation of affordable, moderate and low-income housing initiatives.
“Other opportunities for extra money would be fortified roofs. Homeowners who need fortified roofs. We know that will lower everybody’s insurance, and so they can tap into this money using the housing trust fund to put roofs on their homes,” said Councilwoman Lesli Harris.
It is not a new tax; it’s money already in the general fund.
Basically, like a savings account, they would set some money aside to be used only for affordable housing needs.
Harris says housing is fundamental when it comes to raising the quality of life in the city.
“I live in a neighborhood where I see people pushed out of rental homes, where I see homeowners whose houses have fallen into disrepair because they can’t afford essential repairs, so housing really is the basis of everything,” Harris said.
However, the nonprofit Bureau of Governmental Research is against the proposal.
President and CEO Rebecca Mowbray applauds city leaders for trying to address the housing crisis but says research shows it’s not a good idea to lock in a chunk of money for one cause. She says it takes away the flexibility.
“Once something goes into the charter, it’s hard to undo or to adjust. It would need to go before voters to do that, and we don’t know what the city may be experiencing one or two years down the road. The city may need that money to pay for other needs. What if there are ongoing expenses that the city hasn’t budgeted for,” Mowbray said.
But Harris feels exclusively dedicating a portion of the city’s general fund, is the best way to show long term commitment to a crisis that seems to be getting worse with inflation, and soaring insurance premiums.
The money will be operated by New Orleans Redevelopment Authority and Finance New Orleans. There will also be an advisory committee to oversee the process for more transparency.