Preservation

For decades, our country has invested in affordable housing through a variety of federal and state programs. However, much of this housing stock is now in desperate need of recapitalization and rehabilitation. Much of it is also coming to the end of its affordability periods set out by its original funding source. Preserving these properties to improve their physical condition and so that they can remain affordable to low-income households is critical. State HFAs work actively to preserve affordable rental properties “at-risk” of being lost to the affordable housing inventory and offer financing to profit and not-for-profit developers to encourage the preservation of affordable housing in their states. HFAs have made additional resources available to encourage such preservation and make sure that sellers are not financially disadvantaged by selling their property to an entity which intends to preserve it as affordable. NCSHA alone, and as part of the National Preservation Working Group, advocates to preserve multifamily housing for low-income families.


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