Columbia Housing has an essential role in our community to provide affordable housing for people with low and moderate incomes.
Housing is primarily a private market enterprise and most housing in this country is privately built and owned. Nevertheless, the federal government has long played a role in assisting in the provision of safe, decent, and affordable housing for low-income families. The low-rent Public Housing program was the original effort through which the federal government supported this policy goal. Yet in recent years, the federal commitment to affordable housing has diminished and funding has been significantly reduced resulting in a capital backlog of over $70 billion nationwide.
Columbia Housing has provided housing for the most vulnerable residents of our community for over 80 years, utilizing the traditional Public Housing program funded by the federal Department of Housing and Urban Development (HUD). However, we have encountered challenges in managing and properly maintaining our Public Housing communities due to the continued decrease in federal funding to meet capital needs and operating costs. Recognizing these challenges, HUD has provided new opportunities that will enable us to develop innovative solutions and more easily access private sector capital.