White House Launches Clean Air in Buildings Challenge
This week, the Biden-Harris Administration launched the Clean Air in Buildings Challenge. According to a White House Factsheet, this initiative is “a call to action for leaders and building owners and operators of all types to assess their indoor air quality and make ventilation and air filtration improvements to help keep occupants safe.” In conjunction with this initiative, the Environmental Protection Agency (EPA) published a best practices guide for “improving indoor air quality and reducing the risk of spreading dangerous airborne particles.” This guide was developed in partnership with the Department of Energy (DOE), Centers for Disease Control and Prevention (CDC), and other federal agencies. It includes a set of recommendations, which are organized into four groups:
- Create a clean indoor air action plan that assesses indoor air quality, plans for upgrades and improvements, and includes HVAC inspections and maintenance.
- Optimize fresh air ventilation by bringing in and circulating clean outdoor air indoors.
- Enhance air filtration and cleaning using the central HVAC system and in-room air cleaning devices.
- Engage the building community by communicating with building occupants to increase awareness, commitment, and participation.
The EPA states, “Under each of these recommendation areas, EPA’s best practices guide lays out clear-cut actions building owners and operators can implement. The best practices guide is designed to serve as a menu of improvements to choose from. The guide includes quick steps that all organizations can take right away as a starting place, as well as resources to help plan for longer-term investments and improvements.”
Bipartisan Bill to Aid Pandemic’s Impact on LIHTC Development Introduced
This week, Rep. Alma Adams (D-NC) and Rep. David Rouzer (R-NC) introduced H.R. 7078, the LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or LIFELINE Act. According to Rep. Adam’s press release, “The LIFELINE Act would make American Rescue Plan (ARP) funds available for affordable housing developments receiving low-income housing tax credits.” As was noted during the NAHMA Conference’s Tax Credit Session and in the background for this bill, “the Treasury Department recently issued a final rule pertaining to the State and Local Fiscal Recovery Fund (SLFRF), which was created by the American Rescue Plan Act of 2021 (ARPA). Per that rule, SLFRF dollars must be obligated by December 31, 2024 and expended by December 31, 2026. Over 20 states have declared their intention to use SLFRF dollars to offset those costs and ensure that the pipeline of affordable housing units will remain robust; however, Treasury’s final rule has presented an immediate and insurmountable barrier for states and localities wishing to do so. Because funds must be expended by 2026, states cannot continue to make LIHTC payments for the duration of previously-negotiated contracts; nor can these funds be given immediately as grants without reducing the cost basis for developers and disincentivizing construction.
The LIFELINE Act – which was drafted in consultation with the Treasury Department, the authorizing committees for SLFRF, and housing stakeholders – would provide the legislative solution required by deeming SLFRF dollars put towards housing credit development as considered expended in compliance with statutory requirements.” NAHMA expects a Senate version of this bill to be introduced and will monitor it movement in Congress.”