In reaction to President Barack Obama’s 2015 State of the Union address, LOCUS: Responsible Real Estate Developers and Investors Director Christopher Coes issued the following statement:
“We applaud the President for recognizing the need to address comprehensive tax reform and invest America’s transportation and infrastructure now. Today, Americans are voting with their feet by seeking out neighborhoods that are walkable, economically accessible and culturally vibrant. Many, however, are feeling the squeeze in their search for affordable housing and transportation options in great, walkable neighborhoods.
As outlined in our 2013 report Federal Involvement in Real Estate, the federal government spends or commits over $450 billion on real estate programs each year. Many of these programs are outdated, uncoordinated, and have not kept pace with an evolving real estate market. LOCUS calls on President Obama and Congress to work in a bipartisan fashion to enact sensible and comprehensive tax and housing finance reform that will update outdated programs and achieve better outcomes for households, communities, and taxpayers while encouraging greater private sector investment to revitalize communities and provide needed resources to ensure all Americans have access to affordable housing options in vibrant, walkable neighborhoods.
In addition, we appreciate the President’s support for robust funding of a multi-year transportation bill that supports a major investment in transportation and infrastructure across the country. With MAP-21 set to expire in the coming months, the President and the new Congress have an opportunity to fund a transportation and infrastructure system that supports the knowledge and creative economy, including providing needed tools for local communities to leverage greater private sector investment and economic development around public transportation that real estate market is demanding today.
We look forward to working with Congress and the President to create more vibrant, inclusive, walkable neighborhoods for all Americans.”
LOCUS: Responsible Real Estate Developers and Investors is Smart Growth America’s national coalition of real estate developers and investors who advocate for sustainable, walkable development in America’s metropolitan areas. Learn more about LOCUS >>