Several industry groups are voicing their opposition against certain provisions of the Housing Preservation and Tenant Protection Act of 2010 (H.R. 4868). Our sister publication, Assisted Housing Management Insider, reported on the legislation, which was introduced by House Financial Services Committee Chairman Barney Frank (www.assistedhousinginsider.com, 3/3/2010, Insider Online).
The National Leased Housing Association (NLHA) has posted a statement on its site, which has the backing of several other groups including the Affordable Housing Tax Credit Coalition and the National Multi Housing Council, among others. The statement says that while there are many provisions in the draft bill that the groups support… “we are writing to restate our continued opposition to several provisions in the legislation that would adversely impact private sector involvement in preserving and recapitalizing our nation’s existing affordable housing stock and will result in our active opposition to H.R. 4868.” The groups’ biggest opposition stems from some provisions in the bill that would discourage “private capital in assisted housing from both a lending and an investing perspective.”
Among the provisions they are asking to be taken out of the proposed legislation are:
The groups are also asking that Section 304, regarding resident access to building information, be amended to “prohibit access to proprietary information, including financial information of owners, investors, home addresses, SSNs, etc.”
For more information about the proposed legislation, contact Denise Muha at dmuha@hudnlha.com or Lisa Blackwell at lblackwell@nmhc.org.