ISSUE 158 | May 26, 2022

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From Around the Region and the State Economic and Policy News

Major investors are purchasing low-income housing tax credits  There is still a shortage of affordable rental homes across the state and nation, despite the availability of low-income housing tax credits. Private equity firms are purchasing the properties near the expiration dates of those credits and turning them into market rate or higher-cost housing. To mitigate this issue, leadership in some states are considering tax breaks for developers who commit to building low-income housing.    Click here to read the full article Redevelopment and infill development innovates Pittsburgh  A collaboration of foundations in the Pittsburgh area is redeveloping an old mill into a mixed-use community. Carnegie Melon University and the University of Pittsburgh will build robotics and biomanufacturing facilities, respectively. The community is also slated to include affordable housing and various public amenities.   Click here to read the full article Unionized labor in PA exceeds national average but continues to drop Unionized labor in Pennsylvania was 12.9 percent in 2021, and 10.3 percent nationally – down from 2020. Despite major national efforts with Amazon and Starbucks, union membership in the private sector has dropped by more than half since the 1980s. Little more than one-third of union members are public sector employees. Click here to read the full article

From Around the Nation and the Globe Economic and Policy News

NACo provides information to help counties provide better services on limited budgets The National Association of Counties (NACo) recognizes the fiscal limitations counties face when compared to what they must accomplish. The association refers to a framework for evidence-based policies that improve outcomes. Its key components include program assessment, budget development, implementation oversight, outcome monitoring, and targeted evaluation.  Click here to read the full article Syracuse program provides housing and social services to reduce recidivism  Dormitory housing, along with education and employment resources, comprise the services offered in Freedom Commons. It contains 54 units, and residents are provided with caseworkers and other supports. To stay in the program, participants volunteer or work 35 hours per week in a productive activity. Click here to read the full article CDFIs work with nonprofits to buy apartment buildings and keep rents affordable San Francisco is experiencing an uptick of private investment in apartment complexes, and subsequent rent increases. Many residents face eviction as a result. The city’s mayor allocated $64 million for nonprofits to work with a community development financial institution (CDFI) and purchase apartment buildings in order to keep rents affordable. Click here to read the full article

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