NEW ORLEANS (October 12, 2024) — The Bureau of Government Research (BGR) this week expressed concerns regarding a proposed charter amendment to the City of New Orleans that would require a minimum annual appropriation of the city’s general fund to housing trusts. Fund.
While BGR recognizes the pressing need for increased local investment in affordable housing, this strict funding requirement limits the city’s fiscal flexibility and ability to address other fiscal challenges. It is argued that it may interfere with The report notes that current funding primarily comes from federal grants, and the proposed amendments could effectively double the city’s investment, but at the cost of potentially affecting broader budget controls. It is emphasized that certain restrictions will be imposed.
Instead of supporting a charter amendment, BGR advocates strengthening the reserve housing fund through an ordinance. This allows for more adaptive financing mechanisms while still meeting housing targets. BGR President Rebecca Mowbray emphasizes the importance of maintaining budget flexibility to balance effective housing investments with other important needs. This report aims to inform voters about the impact of the proposed amendments and provides a thorough analysis to facilitate informed decisions on this issue.
Alternatively, Councilmember Lesli Harris strongly supports the proposed amendments to the Housing Trust Fund Charter, positioning it as a necessary step to ensure long-term funding for affordable housing in the city. He emphasized that the amendment would ensure a consistent 2% annual budget allocation to address the city’s housing crisis, and said the Government Bureau of Investigation believes it promotes unreliable and temporary solutions. (BGR)’s position. Harris said that while BGR acknowledges the need for a housing trust fund, favoring less binding ordinances could lead to a reduction or elimination of local housing investments, leaving residents with essential access to improvements and affordable living options. They claim that there is a possibility that they will not be able to receive proper support.
Read more about Harris’ stance.
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