Statement from NAHB Chairman Jerry Konter on Treasury’s New Guidance on Affordable Housing Development

Jerry Konter, chairman of the National Association of Home Builders (NAHB) and home builder and developer from Savannah, Ga., today issued the following statement after the Department of Treasury announced new guidance on affordable housing development:

“NAHB commends the Biden administration and Department of Treasury for taking an important step forward to combat the nation’s housing affordability crisis by allowing state housing agencies to use State and Local Fiscal Recovery Funds to provide financing for Low-Income Housing Tax Credit (LIHTC) projects. This move to facilitate significant additional funding for affordable housing projects is something that NAHB has been fighting for and it will enable more multifamily developers to boost sorely needed production through the LIHTC. NAHB will continue to work with the Biden administration to solve the housing supply crisis to help builders produce more affordable single-family and multifamily housing.”