(COLUMBIA, Md., December 20, 2007) – Enterprise joins U.S. Senator John Kerry (DMass.) in support of S. 2523, a bill to establish a National Housing Trust Fund, a dedicated source of funding expected to produce, preserve and rehabilitate 1.5 million affordable homes in 10 years. At least 75 percent of the funds will be dedicated to housing for extremely low-income households – those earning less than 30 percent of an area's median income.
Doris W. Koo, president and chief executive officer of Enterprise Community Partners, states, "Enacting this legislation to create a National Housing Trust Fund will bring new resources to help ensure that many more low-income households have access to decent, safe and affordable housing. Both this Senate bill and the House-passed trust fund bill (H.R. 2895) deserve acclaim for prioritizing funding to developments that meet the Green Communities Criteria, the national standard for healthy and sustainable affordable housing."
Enterprise commends Sen. Kerry and the bill's cosponsors – Senators Susan Collins (RMaine), Pete Domenici (R-N.M.), Edward Kennedy (D-Mass.), Jack Reed (D-R.I), Bernie Sanders (I-Vt.), Charles Schumer (D-N.Y.) and Olympia Snowe (R-Maine) – for their commitment to affordable housing, and urges the Senate to expedite passage of this critical legislation.
Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For 25 years, Enterprise has pioneered neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested $8 billion in equity, grants and loans to help build or preserve 225,000 affordable rental and for-sale homes to create vital communities. Enterprise is currently investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity, and to meet some of the half a million people we have helped.