HB1405

This bill helps address the critical NH housing shortage.

This is a modest expenditure to support the kind of housing most needed in the state.

I support the affordable housing guarantee program.

We must do everything possible in this state to create affordable housing opportunities. This bill would be a step in the right direction.

Dear Members of the House Housing Committee, I write in strong support of HB 1405, relative to the Housing Finance Authority. This bill represents a responsible and necessary step toward addressing New Hampshire’s housing crisis by strengthening one of the few tools the state has that is both effective and fiscally disciplined. New Hampshire’s housing shortage is no longer abstract. It is constraining our workforce, driving up property taxes, pricing out young families, and preventing seniors from downsizing while remaining in their communities. Employers across the state—large and small—report that the lack of attainable housing is now a primary barrier to hiring and retention. Municipalities feel the impact in strained budgets, longer commutes, and inefficient growth patterns. The New Hampshire Housing Finance Authority has a long record of leveraging limited public resources to unlock private investment, expand housing opportunities, and do so without burdening the state’s general fund. HB 1405 builds on that proven model. Rather than imposing mandates on municipalities or creating new layers of bureaucracy, this bill enhances the Authority’s ability to respond flexibly to real market conditions and real community needs. Importantly, HB 1405 aligns with core New Hampshire values: • Fiscal responsibility, by using financing tools that maximize return and minimize taxpayer risk • Local control, by supporting housing development without overriding municipal decision-making • Practical problem-solving, rather than ideological posturing Housing affordability is not a partisan issue. It is an economic issue, a workforce issue, and a quality-of-life issue. Strengthening the Housing Finance Authority helps ensure that teachers, nurses, first responders, service workers, and young professionals can afford to live in the communities they serve. HB 1405 recognizes a simple truth: without access to financing, housing does not get built—no matter how many plans or intentions exist. This bill helps close that gap. For these reasons, I urge the committee to vote Ought to Pass on HB 1405 and move it forward as part of a serious, balanced response to New Hampshire’s housing challenges. Respectfully submitted, David John Preece State Representative, Hillsborough District 17

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