Avanath Capital Management National Multifamily Housing Council (NMHC) Founder and CEO Daryl Carter, a National Multifamily Housing Council board member, will testify before Congress on behalf of the multifamily industry.
The Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock hearing centers on infrastructure relating to housing affordability and the nation’s lack of housing stock.
NMHC and National Apartment Association (NAA) personnel maintain any major investment in the nation’s infrastructure should recognize the important relationship between America’s growing demand for rental housing and the industry’s ability to meet it, by seeking to remove barriers to housing development and rehabilitation.
Avanath Capital owns and operates 10,000 apartments throughout the nation worth nearly $1.7 billion, with most of the venues being renovated affordable units.
Carter is expected to offer a unique testimony and first-hand account regarding the importance of housing-focused infrastructure legislation and its link to delivering affordable apartment homes.
The hearing is slated in the wake of House Financial Services Chairwoman Maxine Waters (D-CA) releasing the Housing is Infrastructure Act, which is designed to set aside about $70 billion for the Public Housing Capital Fund, $5 billion for the Housing Trust Fund and $5 billion for disaster relief mitigation while also reducing major cost drivers and barriers to building affordable units.
The bill also dictates certain funds, such as those that would be distributed from the Community Development Block Grant Fund, are only awarded to states and municipalities responsibly streamlining the process for the development of qualified, affordable housing and eliminating specific impact fees.