Affordable Housing

Affordable housing is a prioritized issue in New York's 13th Congressional District, which is mostly comprised of high-rise residential buildings. Throughout our community, tenants face an uphill battle with higher rents, fewer services, and negligence or harassment by landlords. Perhaps more importantly, the lack of affordable housing in the area presents a severe threat to our local economy. As such, I have fought to ensure that tenants and prospective New York City residents are provided with proper support needed to finance affordable housing, while strengthening the quality and accessibility of our housing market.

I introduced the Public Housing Tenants Respect Act of 2011 to remove the barriers that limit access to public housing for our most vulnerable citizens. In these challenging times, we need to protect the unemployed as they strive to rejoin the workforce. Finding a job alone is increasingly difficult for those at risk of losing their homes.

To protect working families across America from foreclosures and to make purchasing homes more affordable, President Barack Obama has created several key initiatives for Americans to keep their homes, such as the Home Affordable Modification Program and the Second Lien Modification Program (Fannie Mae) and the Home Affordable Refinance Program (HARP).  In February of 2012, the Obama Administration announced a $26 billion dollar mortgage settlement with the nation's five largest mortgage lenders. This will help states that were the hardest hit by the economic downturn.

I am strongly committed to help rebuild America’s housing market. In Congress, we are continuously trying to expand affordable housing opportunities for working families at risk of losing their homes. Furthermore, we are strengthening protections against predatory lending practices, which contributed to the fall of the housing market.

Accomplishments:

Low Income Housing Tax Credit
Spearheaded program that generates investments in low- and moderate-income housing construction and rehabilitation. This permanent program is responsible for most affordable housing construction nationwide in the last decade, including more than 5,000 apartment units in Upper Manhattan.

Cooperative Housing Tax Relief
Enacted legislation that holds down rents for thousands of low- and moderate-income residents of cooperative (Mitchell-Lama) apartments by providing tax exemptions for earnings by the cooperative. At Riverbend and Esplanade Gardens, the Congressman assisted renters and owners by reversing Internal Revenue Service claims.

Public Housing Work Requirement
Enacted legislation placing a moratorium on the mandatory work requirement for residents of public housing.

Taino Towers Rehabilitation
Secured $9 million in federal funding  for a major  rehabilitation  of the 650-unit Taino Towers complex in East Harlem.

Relief for the Homeless
Secured the moratorium that prevented the federal government from cutting off AFDC funds for housing the homeless in welfare hotels.

Congressman Rangel's Legislation:

H.R.4479: Renters Tax Credit Act of 2014- (Sponsor)

Renters Tax Credit Act of 2014 - Amends the Internal Revenue Code to allow a business-related tax credit for a portion of the rent paid by a qualified renter. Defines "qualified renter" as a family unit with income not greater than the higher of 60% of local median income or 150% of the federal poverty line. Establishes the amount of such credit as the rent reduction amount, which: (1) is the amount by which the fair market rent for a rental unit exceeds the rent charged to the qualified renter; and (2) shall not exceed the excess of the rent charged to the qualified renter (or, if lower, specified modest rent) over 30% of the qualified renter's income (prorated monthly).

H.R.4478: Section 8 Relief Act of 2014 (Sponsor)

Section 8 Relief Act of 2014 - Requires any new housing assistance payments contract providing rental assistance to low-income families under the United States Housing Act of 1937 that is attached to a structure to have a 40-year term.

Public Housing Tenants Respect Act of 2011, H.R. 3564 - (Sponsor)
Status: Referred to the House Committee on Financial Services
The bill repeals the requirements mandated under the United States Housing Act of 1937 for residents of public housing to engage in community service and to complete economic self-sufficiency programs. The bill also exempts residents making rent payments on time from the mandated Economic Self-Sufficiency program for eight hours a month and community service for eight hours a month. 

Housing Fairness Act of 2013, H.R. 285 - (Co-sponsor)
Status: Referred to the House Committee on Financial Services
Directs the Secretary of Housing and Urban Development (HUD) to conduct a nationwide testing program to: (1) detect and document differences in the treatment of persons seeking to rent or purchase housing or obtain or refinance a home mortgage loan; (2) measure patterns of adverse treatment because of the race, color, religion, sex, familial status, disability status, or national origin of a renter, home buyer, or borrower; and (3) measure the prevalence of such discriminatory practices across housing and mortgage lending markets.

Homes for Heroes Act of 2013, H.R. 386 - (Co-sponsor)
Status: Passed the House, Referred to Senate Committee on Banking, Housing, and Urban Affairs
Amends the Department of Housing and Urban Development Act to establish in the Office of the Secretary of Department of Housing and Urban Development (HUD) a Special Assistant for Veterans Affairs to ensure veterans fair access to HUD housing and homeless assistance programs, coordinate all HUD programs and activities relating to veterans, and serve as a HUD liaison with the Department of Veterans Affairs (VA). Terminates, at the same time as such establishment, the position of Special Assistant for Veterans Programs in the Office of the Deputy Assistant Secretary for Special Needs. Directs the Secretaries of HUD and VA to report annually to Congress with respect to veterans homelessness and housing assistance.

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