Bynum Introduces Bill to Lower Cost of Building New Housing

Congresswoman Janelle Bynum (OR-05) and Congressman Chris Pappas (NH-01) introduced the Supporting Projects to Unleash Residential (SPUR) Housing Act to make it less expensive to build new housing developments. The bill will increase the housing supply by establishing a five-year $1.5 billion grant program through the Department of Housing and Urban Development (HUD) to provide funds to housing developers to offset state and local impact fees. Eligibility for the program would require state and local governments to also match half of the project taxes or fees.

Oregon has the second highest average development costs. In 2019, the state’s average cost was $16,712 per household. The SPUR Housing Act would provide cost relief and cut red tape to make it affordable for Oregonians to build more homes. 

“First-time home buyers should not have to wait 20-plus years to afford a home,” said Rep. Bynum. “This bill will make crucial progress toward making it easier, faster, and more affordable to build a home. I will keep working to make sure that any Oregonian who wants to buy a home can buy a home."

“Addressing the shortage of affordable housing should be a top priority of everyone in Congress, and I’m committed to finding common sense ideas that will increase supply and lower costs,” said Congressman Pappas. “I’m pleased to introduce this legislation which creates a new grant program to reduce building project costs and speed the development of new housing.”

This bill is part of Rep. Bynum’s K-30 initiative, a 16-bill package focused on improving public education, strengthening the job market, and lowering the cost of housing. Included in the package are proposals to lower the cost of housing by addressing workforce gaps, affordability barriers, and pathways to homeownership. 

This bill is endorsed by the National Association of Realtors. 

You can find the full text of the bill here.

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