Statement on the Build Back Better Framework from Rafael E. Cestero, President and CEO, The Community Preservation Corporation

November 3, 2021

The time to Build Back Better is now.

We are still fighting a global pandemic and witnessing an urgent climate crisis – events that have decimated people’s homes, businesses and lives. Our nation’s housing system has neglected many Americans for far too long. It is our responsibility to take action now to address the economic inequality, affordable housing, and climate change crises to protect our neighborhoods and communities.

The Build Back Better framework includes key housing provisions that will bring vital resources to vulnerable populations most impacted by the housing crisis and stability to communities most in need. Investments in housing vouchers, public housing, The Housing Trust Fund, and new funds for community development, climate resiliency and energy efficiency in affordable housing are critical to the recovery and future of our country.

But they are just the first of many steps that must be taken to achieve an equitable and fair housing market. We are hopeful for tax provisions to maximize these investments through the new Neighborhood Homes Investment Act, and enhancements to the Low-Income Housing Tax Credit and Historic Tax Credit.

Build Back Better is one of the most ambitious plans to elevate equitable housing access and affordability for all of our neighbors. We look forward to seeing this historic legislation advanced to help address the national affordable housing crisis and thank Majority Leader Schumer, Chairwoman Maxine Waters, Chairman Sherrod Brown, House Speaker Nancy Pelosi and the New York Delegation for their fervent attention to providing housing for Americans that need it most.

— Rafael E. Cestero, President and CEO, The Community Preservation Corporation