Sununu seeks to create new housing models with federal lease assistance cash

Revealed: 5/14/2021 6:05:46 PM Gov. Chris Sununu has requested Treasury Secretary Janet Yellen to aid…

Revealed: 5/14/2021 6:05:46 PM

Gov. Chris Sununu has requested Treasury Secretary Janet Yellen to aid the condition handle its economical housing lack by letting federal dollars developed to help men and women pay their rent for the duration of the pandemic to also be made use of to create and develop new rental models.

In a letter to Yellen dated May possibly 4, the governor named the permissible works by using for resources distributed to states by way of the Unexpected emergency Rental Support System – accepted at the finish of 2020 – as “overly restrictive.” The revenue can be utilized in opposition to lease, utility and energy fees, as properly as “other housing-linked charges because of direct or indirectly to COVID-19,” which the Treasury Section normally takes to signify expenditures of safety deposits, late charges and resort stays.

“The challenge of enabling men and women (to) keep their housing in the course of this pandemic isn’t just about rental aid,” Sununu wrote. “It’s about the absence of readily available inexpensive housing.” Briefly spending for lease and utilities, he likened to “little extra than a band-assist for a damaged leg.”

The governor observed emptiness costs in rental marketplaces are “approaching zero.” Moreover, he reported seasonal and 2nd-residence house owners, who he described as “a major resource of rental models for many years,” especially in the Lakes Location, White Mountains and Mount Washington Valley, have moved into their properties to escape the pandemic, more shrinking the tight rental current market. And he pointed to the “dramatic influx in-migration of folks from neighboring states relocating to New Hampshire all through the pandemic.”

Sununu encouraged the experienced employs of the funding provided by the application be expanded to involve financial investment in the development of reasonably priced housing to offset the effect of the pandemic on the inventory of rental units, incentives for public-private partnerships to create reasonably priced housing and measures to cut down the threats to builders and lenders in undertaking initiatives to provide “socially and economically deprived people.”

In 2019, Sununu supported a legislative initiative to deal with the mounting lack of cost-effective housing, but it was overtaken by the pandemic and stalled in the Legislature.

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