Louisiana Governor Signs New Law Streamlining State's Housing Agencies
Governor Bobby Jindal recently signed new legislation creating the Louisiana Housing Corporation (LHC), a consolidated organization for the state’s housing policy and programs. And a transition committee met recently to discuss the logistics of transferring programs and funds to the corporation, including LHFA’s current investment portfolio and programmatic investments.
In signing the bill, Governor Jindal said, “In Louisiana, for too long we’ve had dozens of housing programs spread across five state agencies, which lead to inefficient management and duplicative operations, costing the taxpayers in dollars and lost opportunities. By consolidating these programs into one organization, we will improve how developers access capital and how we offer affordable housing options to Louisiana residents in need of safe homes for their families. Long overdue, this reform will create a consolidated and focused strategy to coordinate our state housing programs.”
The new law brings together the Louisiana Housing Finance Agency with the following programs in the Office of Community Development: Small Rental Property Repair Program, Gustav and Ike Affordable Housing, LIHTC Piggyback Program, Permanent Supportive Housing voucher program, Soft Seconds program, First Time Homebuyer program, Non-Profit Rebuilding Pilot program and Plaquemines Parish Rehabilitation program, the Housing Development Loan fund, Contaminated Drywall program, and Gustav/Ike Homelessness program.
The LHC will also incorporate housing programs from the Department of Health and Hospitals and the Department of Children and Family Services, including the Emergency Shelter Grants Programs and the Rapid Re-housing Program. The Corporation will be governed by an 11-member board, including six appointments by the Governor, two appointments by the Speaker of the House, and two appointments by the President of the Senate and the Treasurer or his designee. The Corporation’s board will appoint an executive director for the corporation, subject to confirmation by the State Senate.