CONGRESSMAN CARLOS A. GIMENEZ, BROWN & BLUNT ROCHESTER INTRODUCE BIPARTISAN BILL TO PRESERVE AFFORDABLE HOUSING

WASHINGTON, D.C. - Congressman Carlos A. Gimenez (FL-28), Congresswoman Shontel Brown (OH-11), and Senator Lisa Blunt Rochester (DE-119) introduced the Affordable Housing Preservation and Protection Act, bipartisan legislation to help repair and preserve distressed HUD-assisted multifamily housing.

The legislation would establish a new federal loan program to help qualified owners and HUD-approved purchasers finance critical renovations to federally assisted multifamily properties. Loans would be provided at a 1% interest rate for the duration of a 30-year affordability period, helping preserve existing affordable housing and prevent distressed properties from falling into disuse.

"Families across South Florida deserve access to safe, reliable, and affordable housing," said Congressman Carlos A. Gimenez. "This bipartisan legislation will help preserve the affordable housing we already have, support critical repairs, and ensure these properties continue serving our communities for years to come."