Reps Omar and Maloney Introduce “Affordable Housing Preservation Act”

Representatives Ilhan Omar (D-MN) and Carolyn Maloney (D-NY) introduced on April 23 the “Affordable Housing Preservation Act” to create a demonstration program to fund the creation of community-owned cooperatives for low-income renters and homeowners. The bill would provide $200 million to support partnerships for nonprofit resident-controlled cooperative housing, including manufactured housing cooperatives.

Housing cooperatives are an alternative to traditional homeowner and rental housing practices, empowering low-income people to come together to democratically control their housing. The limited-equity co-op model helps ensure long-term affordability and protect individuals from abusive landlords and real estate speculation.

NLIHC President and CEO Diane Yentel stated in Representative Omar’s press release, “The power imbalance between renters and landlords puts renters at greater risk of housing instability, harassment, and homelessness, and it fuels racial inequity. I applaud Congresswomen Omar and Maloney for introducing the Affordable Housing Preservation Act to help disrupt this power imbalance by creating new opportunities to empower low-income renters to take control of their housing and prevent displacement."

The bill is supported by NLIHC, Centennial Mortgage, Grounded Solutions Network, ROC USA, Urban Homesteading Assistance Board (UHAB).

Read Congresswoman Omar’s press release at: