The Native CDFI Network (NCN) invites Native CDFIs and other key organizations to sign on to a joint letter to Congress expressing formal support for the Tribal Rural Housing Access Act (S. 3906) with certain proposed technical revisions that Senator Elizabeth Warren, the bill’s sponsor, plans to include in the committee markup, which is projected to take place next month.
To review the joint letter, please click here.
To sign on to the joint letter, please click here.
NCN kindly requests that supporting organizations sign on to the joint letter by the deadline of EOB this Friday, May 10 so that NCN can then send the letter to the leadership of the U.S. Senate Committee on Banking, Housing, and Urban Affairs for their review and consideration.
Background on Legislation:
The Tribal Rural Housing Access Act establishes a set-aside of 5.0 percent for Indian Tribes, tribal-owned entities, Native community development financial institutions (CDFIs), and other eligible Native-led community development organizations of the aggregate amount of lending authority, budget authority, or guarantee authority made available by Congress each year for several key USDA rural housing programs and activities, including the Section 502 Direct Loan Program, Section 504 Home Repair Program, Section 515 Rural Rental Housing Loan Program, Section 525 Technical and Supervisory Assistance Grant Program, Section 533 Housing Preservation Grant Program, and Section 538 Multifamily Housing Loan Guarantee Program.
Creation of this set-aside is greatly needed and long overdue given the disproportionately grave housing and homeownership challenges faced by Native people (particularly those residing in rural areas), coupled with the federal government’s longstanding underfunding of programs designed to address those challenges.