Housing News of the Week 10.16.19

Check out the recent news below to see what is happening this week in Housing News.

New Housing Alliance Brief Shows Positive Economic Impact Of Investments In Affordable Housing
The Economic Impact Brief shows that in Pennsylvania, for every $10 million in affordable housing construction, it will generate $19.6 million in total economic impact and support 110 jobs. A State Housing Tax Credit, SB 30, which was recently introduced by Senator Killion (R-Chester and Delaware) would create investment in affordable housing. SB 30 is currently being considered by the state legislature.

Trump Administration Takes Giant Step Backward on Racial Equality
In the fall of 2018, the Office of the Comptroller of the Currency (OCC) initiated an effort to modernize the Community Reinvestment Act (CRA). Advocates are concerned that these efforts will mainly focus on weakening oversight and regulation. Regardless of one’s position on that issue, the banking industry in general, and indirectly the CRA, has been undergoing significant change, with more and more financial activities moving away from brick-and-mortar stores to the internet.

Here’s what you should know about Philadelphia’s legal protections for tenants
The Daily Pennsylvanian
Student renters, in addition to long-time neighborhood residents, can fall victim to mistreatment by their landlords. Fortunately, Philadelphia law upholds renters’ rights on a myriad of issues ranging from discrimination, rental suitability, evictions without “good cause,” and other unfair rental practices.

In Pennsylvania, ‘opportunity zones’ struggle to live up to their intentions
Lancaster Online

The cracked glass doors of the vacant post office building reflect back the historic town center in this western Pennsylvania city. Behind the padlocks, a dusty staircase strewn with crumbled plaster leads to an empty foyer. Across the town center, known by locals as “the Diamond” for its shape, another former anchor of downtown is dark. Once the headquarters of utility company Penn Power, part of the cavernous ground floor now houses the city’s Christmas decorations. Wreaths of green tinsel stacked against the windows flash in the sunlight. Bill Mitsos, 55, is the co-owner of the M&P Coney Island hot dog restaurant, one door down from the Penn Power building. He said he remembers when the family business, founded in 1923, attracted a crowd every day for lunch. Now, almost all of their sales come from another location in the suburbs.

What New Orleans Can Teach Other Cities About Reducing Homelessness
In the shadow of the Superdome — the epicenter of Hurricane Katrina’s horrors — Will Vanslaughter zips in and out of traffic, scrubbing windshields, charming drivers, armed with a squeegee, a water bottle and a smile. “A lot of people think we’re bums,” said Vanslaughter, 46, who recently landed an apartment with the help of a local nonprofit after living under a bridge for three years. “But I don’t come out here to get money for drugs. I come out here to feed myself. This is how I survive.”