Affordable Housing Threatened As Trump Halts $1 Billion Program To Extend Life Of Buildings

LOADING ERROR LOADING The Trump administration is halting a $1 billion program that helps preserve affordable housing, threatening projects that keep tens of thousands of units livable for low-income Americans, according to a document obtained by The Associated Press. This money “was essential in order for the project to come together,” said Mike Essian, vice president at American Community Developers, Inc., which received funding for several affordable-housing projects. The potential loss “seriously jeopardizes our ability to be able to provide an upgrade to the current systems,” said Greg Franks, president of the property’s management company, adding that the work is “needed to sustain the livability of this building based on its age, and to keep it viable for another 60 years.” “We are depending on that $10 million,” he said. As for Smith Tower, if the money doesn’t arrive, “we will certainly seek other funding to fill that gap,” said Travis Phillips of the Housing Development Center. “In all honesty,” said Michelle Arevalos, Smith Tower’s administrator, “if this building were not here, a lot of our folks actually probably would be homeless.” ___