|Posted:||January 8, 2015 04:26 PM|
|From:||Senator Randy Vulakovich and Sen. Matt Smith|
|To:||All Senate members|
|Subject:||Improving the Neighborhood Assistance Tax Credit Program (NAP) to better serve the housing needs of our veterans|
|We will soon be reintroducing SB 1498 to improve veteran’s housing opportunities under Act 55 of 2007 and the Neighborhood Assistance Tax Credit Program (NAP). The NAP should support the provision of housing and supportive services to homeless or vulnerable veterans and their families wherever they choose to live. Our goal is to provide the Neighborhood Assistance Program new flexibility to support housing initiatives for veterans without geographic restrictions.
The Neighborhood Assistance Program encourages private businesses to contribute to neighborhood-based housing and community improvement initiatives in exchange for a tax credit of between 55 and 80% of the investment.
When the NAP was last updated in 2007, the unmet housing needs of vulnerable populations - particularly Veterans and their families - were not as clearly defined as they are today. Since then, Veterans’ housing issues have become prominent in our communities and are now a priority for housing service agencies and tax credit investors alike.
Currently, NAP applicants must identify the neighborhood or specific community where services will be provided. This geographic limitation is challenging for veterans service organizations, as veterans are not concentrated in any specific neighborhood. Veterans live in all of our communities. This adjustment will retain all of the NAP’s outcome requirements, while providing the Department of Community & Economic Development with flexibility to support veterans housing initiatives regardless of what community veterans are located in.
SB 1498 was sponsored by Senators Vulakovich, Smith, Argall, Baker, Costa, Erickson, Fontana, Hutchinson, Mensch, Rafferty, Solobay, Tartaglione, and Teplitz.
We hope you will consider supporting this measure to make the Neighborhood Assistance Program more responsive to Pennsylvania’s veterans. Please contact Nate Silcox (Sen. Vulakovich) at 717-787-6538 if you have any questions.
Introduced as SB426