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Committee hears bill to replenish and expand Housing Champions program to spur municipal housing actions
Summary
Sen. Rebecca Perkins Quoca told the Senate Commerce Committee that SB279 would replenish and expand the Housing Champions program, and allow the Business Finance Authority to offer low-interest loans to businesses in designated communities.
Sen. Rebecca Perkins Quoca asked the Commerce Committee on Feb. 11 to expand and replenish the Housing Champions program with Senate Bill 279. The program gives communities a designation and grant funds to support infrastructure needed for housing growth; Perkins Quoca said 18 municipalities already received awards and demand exceeded the initial appropriation.
"I'm here today to ask for two things: replenishment of funds so that Housing Champions can continue to be the successful program it has become, and an expansion of the benefits available to the cities and towns that qualify as housing champions," Perkins Quoca said. The bill would also authorize the Business Finance Authority (BFA) to provide low-interest loans to businesses located in Housing Champion communities.
Supporters including local realtors, housing advocates and the Business & Industry Association said the program helps communities fund water, sewer and other infrastructure needed for denser housing and can spur private investment. Chris Norwood of the New Hampshire Association of Realtors said the grant money helps fire-suppression and sewer projects that are prerequisites for new housing and commercial development.
James Key Wallace, executive director of the BFA, described the proposed $1 million pool for BFA loans as potentially too small to meet demand and suggested that if the proposal is a pilot it be framed as such; he estimated a more realistic program would require a larger capital base to serve multiple communities.
The committee closed the hearing on SB279 and the chair later advised the chamber that SB279 would be referred to the subcommittee on housing for further discussion.
