Public Policy And Advocacy

At Cinnaire, we invest in people and places to transform lives through capital investments and development solutions. We work to achieve that vision by creating partnerships that drive investment in our communities, including rural and urban areas that are often overlooked by the mainstream financial sector. To be successful, our work requires public-private partnerships and public policies that encourage investment in the communities we serve. We believe it is essential to educate policymakers on the role of critical programs in bringing capital to affordable housing and community development projects that help our communities thrive and create opportunity.

To learn more about Cinnaire's public policy priorities and partnerships, click below or contact Chris Neary, Cinnaire's Senior Vice President for Policy, Research and Advocacy.

Advocacy Partnerships
Cinnaire's JT Mackey collaborating in Indiana's Statehouse
Anthony Winson testifies for MI prohibiting racial restrictions
The_U.S._Capitol_Building,_Washington,_D.C

FEDERAL POLICY & ADVOCACY PRIORITIES

POLICY ACTIONS FOR ADVANCING COMMUNITIES

ENHANCE THE LOW-INCOME HOUSING TAX CREDIT​

The severe lack of affordable rental housing continues to be a pressing challenge for communities across the country, including both rural and urban areas. No program has been as successful at creating affordable housing than the Low-Income Housing Tax Credit (Housing Credit), a public-private partnership with broad, bipartisan support. By encouraging private investment in the production and preservation of affordable housing, the Housing Credit has financed millions of homes for low-income households, including desperately needed housing options for veterans, seniors, and individuals with disabilities. Unfortunately, development of affordable housing lags far behind the demand and availability of the Housing Credit. More than 11 million low-income households – roughly one in four renters – spend more than half of their income on rent.

The Housing Credit is a proven program, having created more than 3.7 million affordable homes since its inception. Enhancing this program would help address our nation’s urgent housing affordability crisis.

The U.S. Department of Housing and Urban Development (HUD) operates several programs that are critical to increasing the supply of affordable homes and keeping rent affordable.

To address our housing crisis, our communities rely on programs that provide rental assistance and support the creation of more affordable housing options. In particular, the HOME Investment Partnerships Program (HOME) is a proven, effective and locally-driven tool for helping communities meet the demand for affordable housing. Despite its success, the HOME program has been underfunded for years. HOME is critical to filling gaps in financing for the development of affordable housing, including many projects supported by the Housing Credit.

 

The New Markets Tax Credit (NMTC) program attracts private capital to some of the most distressed rural and urban communities across the country by providing a federal tax credit for impactful investments.

With deep experience in investment in low-income communities, Cinnaire has provided $679 million in NMTC allocation to distressed communities. Increased resources for this program would help Cinnaire attract more capital for these impactful projects.

Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System -- known as Government-Sponsored Enterprises (GSEs) -- remain critical drivers of the creation and preservation of affordable housing in the United States. It is critical for Congress and the GSEs’ regulator, the Federal Housing Finance Agency (FHFA), to maintain this role by preserving affordable housing goals, duty to serve requirements, contributions to the Housing Trust Fund, Capital Magnet Fund, the Affordable Housing Program (AHP) and other mechanisms to finance affordable housing development in the United States.

As a certified Community Development Financial Institution (CDFI), Cinnaire Lending has received several awards from the Treasury Department’s CDFI Fund including the Capital Magnet Fund. These flexible sources of capital allow Cinnaire to empower our community partners to meet their needs. Robust funding for the CDFI Fund has an outsized impact, helping Cinnaire leverage private capital and investment in our communities.

For More Information, Contact:

Chris Neary
Senior Vice President, Policy, Research & Advocacy

(302) 434-6065

PHOTOGRAPH BY JIM GRAHAM
Chris's Bio

Our Locations

Lansing
1118 South Washington
Lansing MI, 48910

Indianapolis
201 North Illinois Street
 Suite 1530
Indianapolis IN, 46204

Wilmington
100 W. 10th Street, Suite 502
Wilmington, DE 19801

Chicago
225 West Washington
Suite 1350
Chicago, IL 60606

Madison
10 E. Doty Street, Suite 617
Madison, WI 53703

Grand Rapids
100 Cesar E. Chavez Ave.
Suite 202
Grand Rapids, MI 49503

Detroit
2111 Woodward Avenue, Suite 600
Detroit, MI 48201

 

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