Calling on the United States Senate to pass and the President of the United States to sign into law the National Affordable Housing Trust Fund Act of 2007.

WHEREAS, Safe, decent, and affordable housing is the basic right of all Americans; and

WHEREAS, Affordable housing is at the heart of strong communities and stable neighborhoods; and

WHEREAS, The lack of affordable housing has caused homelessness, economic hardship, and other adverse effects for an untold number of men, women, and children in Philadelphia and throughout the United States; and

WHEREAS, The median home price in Philadelphia rose 8% from 2005 to 2006 while the median household income for Philadelphia is $33,229, well below the national median household income of $48,200 for the same period; and

WHEREAS, More than 50% of low-income households in Philadelphia pay over half of their incomes for housing; and

WHEREAS, The demand for affordable housing in Philadelphia exceeds the supply by at least 60,000 units; and

WHEREAS, In 2006, the waiting list for subsidized rent assistance under the Section 8 housing voucher program had 6,510 names, while the waiting list for public housing had 14,880 names; and

WHEREAS, Housing is an economic stimulus representing 23% of the United States gross domestic product; and

WHEREAS, The production of new housing and the preservation and rehabilitation of existing housing that is affordable for low-income individuals and families must be a national priority; and

WHEREAS, The goal of the National Housing Trust Fund is to produce, rehabilitate, and preserve 1.5 million units of housing over the next decade; and

WHEREAS, The National Affordable Housing Trust Fund Act of 2007 (S. 2523) was introduced in the United States Senate on December 19, 2007; and

WHEREAS, The United States House of Representatives passed H.R. 2895, the National Affordable Housing Trust Fund Act of 2007, on October 10, 2007; and

WHEREAS, Both S. 2523 and H.R. 2895 target 75% of trust fund dollars to extremely low-income households and require that at least 30% of trust funds dollars are designated to households that qualify for Supplemental Security Income benefits; and

WHEREAS, The City of Philadelphia is committed to addressing the affordable housing crisis; now, therefore, be it

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Council calls upon the United States Senate to pass, and the President of the United States to sign into law, the National Affordable Housing Trust Fund Act of 2007; and

FURTHER RESOLVED, That a copy of this resolution be forwarded to the Honorable George W. Bush, President of the United States, to Harry Reid, Majority Leader of the United States Senate, to the Pennsylvania Senate delegation: Arlen Specter and Robert Casey, Jr., and to each Member of the Philadelphia Congressional Delegation.

End