A new effort to pass workforce housing tax credits in Frankfort was launched last week at an apartment community in Walton.
The Commonwealth Alliance for Housing Solutions (CAHS) was launched with State Representatives Kim Banta, a Republican from Ft. Mitchell, and Randy Bridges, a Republican from Paducah.
The call for the tax credits, which supporters hope will be approved during the 2022 General Assembly legislative session, was hosted at Towne Creek Crossing.
“It’s past time for Kentucky to establish a workforce housing tax credit to help thousands of individuals and families across our commonwealth,” said Bridges.
“We know that housing solutions are needed for members of our workforce, veterans, retirees, children, and others. I am excited to support these efforts and encourage my fellow legislators to as well,” said Banta.
During the press conference, Tiffany Marthaler from CAHS noted that prior to COVID-19, Kentucky was short 75,000 units for affordable housing.
Jackie Napier, a resident of Towne Creek Crossing also spoke during the press conference, noting her enthusiasm about the goals of CAHS.
“There are a lot of people throughout the state – a lot of hard-working people and retired people too – who need options like this,” she said. “I hope more individuals like me will have an opportunity to live in a place like Towne Creek Crossing in the near future.”
With the construction of 6,559 new affordable housing units, models predict $178.7 million in tax revenues for state and local governments and the creation of 3,539 jobs each year of the program.
“The housing crisis has only worsened with the financial havoc wreaked by the pandemic and the rising construction and housing costs,” Marthaler said. “As part of the solution, CAHS is advocating for a workforce housing tax credit, which has proven successful in other states and could nearly double the number of units produced per year.”
CAHS and its supporters believe that affordable housing tax credit legislation will help Kentucky families afford adequate housing, help stimulate the economy, and help solve the affordable housing crisis in the state, a news release said.
-Staff report