Affordable housing advocates in New Orleans are divided over a $45M housing bond on upcoming ballot

KEY TAKEAWAYS:

$45M affordable housing bond proposed alongside $510M citywide bonds.

Debate over whether bond complements or replaces Housing Trust Fund .

Bond intended to fund larger multifamily developments and gap financing .

Housing Trust Fund continues with 2% general fund allocation regardless.

On Nov. 15, New Orleans voters will decide whether to approve three bond propositions, which together could provide an infusion of $510 million to support capital projects across the city. One $415 million bond would support a raft of infrastructure improvements to streets, roads and public facilities. Another $50 million bond would fund stormwater and drainage projects across the city.

But it’s the third item — a $45 million bond for affordable housing — that has become the mo