‘Twas the Night Before Christmas: Affordable Housing Version

‘Twas the night before Christmas, in the Senate and the House,
Not a creature was stirring, not even a mouse;
Where deals to create housing are pieced together with care,
Striving to ensure more funding and legislation will be there.

Affordable housers are snug in their beds,
With visions of filled financing gaps dancing in their heads;
And with a 4% LIHTC and bonds with no cap,
They could settle down for a long winter’s nap.

When up on The Hill there arose such a clatter,
We spoke to our advocates to check out the matter;
Away to friendly lawmakers we flew in a flash,
To increase funds for more units through legislated cash.

By expanding affordable housing in sun and in snow,
We could fuel areas of opportunity to prosper and grow;
When, what to our wondering eyes should appear,
Bipartisan congresspeople who support us without fear.

Surely, we could do with more legislative uptick;
Could we also get assistance from jolly old St. Nick?
More rapid than reindeer this year’s troubles came,
He whistled, and shouted, and called them by name:

“Now, NATURAL DISASTERS! Now, RENT WOES and POLITICAL DIVISION!
On, JOB LOSSES! On, CONSTRUCTION COSTS and JUDICIAL DECISION!
To the leaders of Congress! Don’t create a shortfall!
Now dash away! Dash away! Dash away, all!”

Acquisition, preservation, new construction we try,
As we meet with more obstacles, for more funding we vie;
We labor intensely to see the deals through,
Like a sleigh full of toys, when the money comes due.

In a twinkling, we provide services to those who live there,
Self-sufficient residents who thrive with such care;
As the year draws to a close with changes all around,
Down the chimney comes St. Nicholas with a bound.

He was dressed trimmed in fur, from his head to his foot,
But impressed he was with our green housing output;
A bundle of reforms he flung on his back,
And he looked like a peddler just opening his pack.

His eyes—how they twinkled! His dimples how merry!
With more 9% tax credits, it was like a sundae with a cherry;
He brought zoning changes to ease housing construction
And even more gifts—increased tax credit deduction.

The 2026 increases Congress might bequeath,
Encircled his head like a holiday wreath;
Will new bond-structured deals mean more housing for our workforce?
Yes, he reassured—innovative financing, of course!

He saw opportunities for families and seniors, that right jolly old elf,
And I laughed when I saw him, in spite of myself;
A wink of his eye and a twist of his head
Soon gave me to know I had nothing to dread.

He spoke not a word, but went straight to his work,
Filling stockings with promise, then turned with a jerk;
He brought creative financing that no one could oppose
And giving a nod, up the chimney he rose.

He sprang to his sleigh, gave his team a big smile,
Improving lives everywhere was certainly his style;
And I heard him exclaim, ere he drove out of sight,
MORE HOUSING FOR ALL, AND TO ALL A GOOD NIGHT!

Joe Weatherly is chief investment officer of The NHP Foundation. Cover image courtesy of The NHP Foundation; photo by Curtis Cofield