[Congressional Record Volume 151, Number 129 (Thursday, October 6, 2005)]
[Senate]
[Page S11226]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. JEFFORDS (for himself, Mr. Sarbanes and Mr. Dayton):
  S. 1834. A bill to authorize the Secretary of the Department of 
Housing and Urban Development to make grants to States for affordable 
housing for low-income persons, and for other purposes; to the 
Committee on Banking, Housing, and Urban Affairs.
  Mr. JEFFORDS. Mr. President, over the past several weeks, in the wake 
of two hurricanes, we have felt the heartbreak of Americans forced from 
their homes with no return in sight. Safe and affordable housing is not 
something we should take for granted.
  Today I am introducing the Affordable Housing Preservation Act of 
2005. I am proud to be joined by my colleagues, Senators Paul Sarbanes 
and Mark Dayton. This bill provides federal matching funds for the 
acquisition and rehabilitation of existing federally-assisted or -
insured affordable housing properties that are in danger of being lost 
from the affordable housing inventory.
  There is a great need for affordable housing. All across the country, 
housing is becoming less attainable for more and more families. In my 
own State of Vermont, renting--let alone owning--a home is becoming 
difficult if not impossible for many families. The minimum wage in 
Vermont is seven dollars. However, a family must earn almost $28,000 in 
yearly income to afford a two-bedroom apartment, which requires a wage 
of over $13 per hour. For example, in Vermont, a two-bedroom apartment 
costs about $698 per month, and a minimum wage earner can afford no 
more than $364 for rent. This trend is not unique to Vermont. 
Nationwide, the wage needed to afford a two-bedroom apartment is over 
$15 an hour. Approximately one-quarter of the U.S. earns less than $10 
per hour. There are some communities where affordable housing was never 
a concern before, but are now facing a shortage growing ever more 
severe. I ask unanimous consent to have a chart compiled by the 
National Low Income Housing Coalition (NLIHC), ``State Ranks Based on 
Two Bedroom Housing Wage'', inserted in the Record. As my colleagues 
read this chart, I encourage them to refer to the NLIHC report issued 
last year, ``Out of Reach'', for a more comprehensive overview of 
housing prices and diminishing affordability. I found this report 
particularly alarming and eye-opening.
  There are several strategies to consider in combating the affordable 
housing crisis. A comprehensive plan of economic and community 
development and revitalization--from public and private sector 
sources--is one strategy that has proved successful. Some of the 
increasing need for affordable housing is met with the construction of 
new units. But in many communities, a stock of affordable housing 
already exists, and there is a desire among local leaders to preserve 
it. My bill helps States, localities, and other entities do just that.
  The bill I am introducing today, the Affordable Housing Preservation 
Act of 2005, represents an effort to complement the good work being 
done throughout the country on Section 8 initiatives, and it strives to 
preserve existing affordable housing. Specifically, this legislation 
would conserve federally-subsidized housing units by providing matching 
grants to states and localities, who then may work with other housing 
entities, seeking to preserve privately owned, affordable housing.
  The Secretary of Housing and Urban Development, HUD, would make 
determinations for the grants based on a number of factors, including 
the number of affordable housing units at risk of being lost and the 
local market conditions in which displaced residents would have to find 
comparable new housing options. States and localities could use the 
funds to acquire or rehabilitate housing, which may be done by working 
with established not-for-profit organizations that specialize in 
providing affordable housing. They could use the funds, in part, for 
administrative and operating expenses. Properties with mortgages 
insured by HUD, Section 8 project-based assisted housing, and 
properties that are being purchased by residents would all be eligible 
for the matching grant funds. I believe that flexibility with the 
funding would make this program more efficient and cost effective, and, 
most importantly, more helpful to the recipients themselves.
  What's more important to a family than a place to call home? 
Affordable, quality, and safe housing is the foundation, literally and 
figuratively, that communities are built upon. As the Senate crafts a 
comprehensive federal response to the housing crisis, including 
emergency housing assistance for those affected by the hurricanes 
Katrina and Rita, I am eager to work with my colleagues to integrate 
the principles of housing preservation into affordable housing, 
economic and community development and revitalization initiatives.

              STATE RANKS BASED ON TWO BEDROOM HOUSING WAGE
                     [Higher Rank = Less Affordable]
------------------------------------------------------------------------
                                                               Housing
                                                               wage for
           Rank                          State               two bedroom
                                                                 FRM
------------------------------------------------------------------------
52.......................  District of Columbia............       $22.83
51.......................  California......................        21.24
50.......................  Massachusetts...................        20.93
49.......................  New Jersey......................        20.35
48.......................  Maryland........................        18.25
47.......................  New York........................        18.18
46.......................  Connecticut.....................        17.90
45.......................  Hawaii..........................        17.60
44.......................  Alaska..........................        17.07
43.......................  Nevada..........................        16.92
42.......................  New Hampshire...................        16.79
41.......................  Colorado........................        16.64
40.......................  Rhode Island....................        16.29
39.......................  Virginia........................        16.05
38.......................  Illinois........................        15.44
37.......................  Florida.........................        15.37
36.......................  Minnesota.......................        15.07
35.......................  Arizona.........................        14.93
34.......................  Washington......................        14.32
33.......................  Delaware........................        14.16
32.......................  Georgia.........................        14.12
31.......................  Texas...........................        13.84
30.......................  Pennsylvania....................        13.82
29.......................  Michigan........................        13.58
28.......................  Vermont.........................        13.42
27.......................  Utah............................        13.36
26.......................  Oregon..........................        12.89
25.......................  Maine...........................        12.82
24.......................  Wisconsin.......................        12.22
23.......................  Ohio............................        12.08
22.......................  North Carolina..................        11.98
21.......................  Missouri........................        11.85
20.......................  Indiana.........................        11.77
19.......................  New Mexico......................        11.58
18.......................  Kansas..........................        11.22
17.......................  Idaho...........................        11.20
16.......................  Nebraska........................        11.08
15.......................  South Carolina..................        11.04
14.......................  Tennessee.......................        11.04
13.......................  Louisiana.......................        10.95
12.......................  Iowa............................        10.74
11.......................  Montana.........................        10.50
10.......................  Oklahoma........................        10.40
 9.......................  Kentucky........................        10.23
 8.......................  South Dakota....................        10.18
 7.......................  Wyoming.........................        10.06
 6.......................  Alabama.........................         9.84
 5.......................  Mississippi.....................         9.79
 4.......................  Arkansas........................         9.63
 3.......................  North Dakota....................         9.48
 2.......................  West Virginia...................         9.31
 1.......................  Puerto Rico.....................         7.22
------------------------------------------------------------------------

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