Housing crisis now an every Columbus neighborhood problem. Tax break program will help

Carlie J. Boos is the executive director of the Affordable Housing Alliance of Central Ohio, a nonprofit, nonpartisan organization dedicated to protecting and promoting housing affordability across the region.

Another in a long line of national experts recently stopped by Columbus to diagnose our growing problem: we’re not building nearly enough housing, and what we are building, is largely unaffordable and economically segregated.

This particular expert, Richard Kahlenberg, recommended we modernize our zoning laws so that we are preparing the region for a dynamic, prosperous, and equitable future.

Zoning reform lowers housing costs by reducing bureaucratic barriers and unlocking the kind of construction that propels us forward.

Thankfully, Columbus is working on that now.

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But he was quick to point out that zoning reform is a necessary, but not sufficient, response to the housing challenge. Instead, we need an everything-and-the-kitchen-sink approach to get ahead of the housing curve.

What can help Columbus close 'housing gap'

The city of Columbus’ Community Reinvestment Area policy is another critical tool that we must make work to close our housing gaps. Council unanimous voted Monday to create a Community Reinvestment Area for the entire city.

It lets the city reduce housing costs by locking in real estate taxes at the existing rate for up to 15 years. Columbus, wisely, offers this discount in exchange for affordability commitments. By lowering operating costs, they pass the savings on to renters and homebuyers in need with lower rents and mortgage costs.

For the mission-driven organizations that create affordable housing, the tool is a “go/no-go decision maker,” as Leah Evans, President and CEO of the nonprofit Homeport, recently shared at city council.

Why is the Community Reinvestment Area program needed?

Without Community Reinvestment Area, most affordable housing proposals just aren’t financially feasible.

The problem was that this tool could only be used in some Columbus neighborhoods. But our housing crisis isn’t a “some neighborhoods” kind of problem.

It’s an everywhere problem.

There isn’t a single neighborhood in Columbus where the typical childcare worker, home health aide, or school bus monitor can afford to rent an apartment.

Not one.

Buying the average Columbus home now requires a six-figure income to afford. And if we don’t get ahead of the curve soon, another 20,000 local families are projected to slip into extreme housing insecurity between now and 2040.

More: Columbus expands some tax breaks to entire city to help double home construction

Limiting the Community Reinvestment Area to only some streets meant that there were neighborhoods experiencing dramatic rent inflation that couldn't use the tool to ease pressures.

There are neighborhoods with tons of job openings that couldn't use the tool to support or recruit workers. And there were neighborhoods that grew segregated through redlining and other abuses that could not use the tool to achieve their equity goals.

Unbreaking our housing system isn’t just a charitable act for those with less means.

Unaffordable housing is a problem that affects us all. And solving it benefits us all, too. Exciting new research from the Affordable Housing Alliance of Central Ohio shows that narrowing our region’s affordable housing gap will lift 25,000 of our people into the middle class, extend life expectancy by five years, and help thousands more of our kids become proficient readers by third grade, among other far-reaching benefits.

That’s the future we want for Columbus.

And that’s why the Affordable Housing Alliance of Central Ohio supports allowing the CRA tool to be used throughout the city, welcoming affordability everywhere it’s needed.

And its why we encourage a full portfolio of bold, creative, and impactful solutions to the housing puzzle.

Carlie J. Boos is the executive director of the Affordable Housing Alliance of Central Ohio, a nonprofit, nonpartisan organization dedicated to protecting and promoting housing affordability across the region.

This article originally appeared on The Columbus Dispatch: What is Columbus's Community Reinvestment Area program