1. Create Affordable Housing Trusts.
Affordable housing in cities Housing trust funds should be established, ongoing, and public funding sources for low-income housing developments in both states and cities.
2. Fund via Bond Elections.
There is saying that where development cannot reach, ballot boxes does.
Yet, the sheer number of housing measures on ballots showed that local leaders see the needs created by the housing crisis and yet do not want to solve those issues.
Local governments can propose allocating funds to specific projects or developments through municipal bond elections, which gives citizens a chance to approve or deny said spending plans at the polls.
For example, affordable housing sign (via Associated Press)Austin voters OK’d a record-breaking $250 million affordable housing bond.
Electorates should insist more on housing and shelter reforms that other amenities which are always less achievable.
3. Offer Incentives, Tax Breaks.
State incentives, which are supplemental to federal ones, issue credits to developers for the acquisition, rehabilitation, or construction of rental housing targeted to lower-income households.
This can result in economic developments in urban centers.
Another incentive is to donate land.
4. Relax Zoning, Developing Rules.
Zoning regulations and “not-in-my-backyard” mindsets often block or raise the cost to build multifamily, affordable housing. construction hard hat housing development.A newly implemented Austin City Council program waives specific zoning rules—including height and density restrictions, as well as minimum parking requirements.
These rules will make it easier for low-income housing developers to navigate the city’s building processes and build more cost-effective dwellings.
5. Engage Big Tech (and Big Businesses).
While companies like Facebook are helping fuel the housing crisis, they’re also diving into housing policy.
Big tech is starting housing projects and investing in philanthropy for affordable housing.
Here are some examples of Big Tech and cities teaming up:
Microsoft recently launched a $500 million affordable housing initiative. This would provide loans to developers and grants to reshape the housing market in its region. Microsoft is also partnering with the mayors of Seattle and surrounding cities. They agreed to consider zoning and other policy changes to promote affordable housing development.
Salesforce CEO Marc Benioff backed an initiative that would tax San Francisco’s top-grossing businesses to raise money for housing and homeless services.
6. Revitalize Neighborhoods.
Neighborhood revitalization covers a broad range of activities. It motivates change and effects the socioeconomic characteristics of communities.
What Else Can We Do?
We know that steady housing is connected to health.
One way to act is asking your city what they’re doing about affordable housing.
Help make your communities more inclusive and connected through inclusive zoning, fair housing laws, and access to public transportation.
This can improve economic and social wellbeing!
