The reauthorization dedicates $40 million every three years for housing needs and community growth within the nation’s reservation.
“I think it does the things that investing in housing is about,” Cherokee Nation Chief Chuck Hoskin Jr. said. “Which is to make sure people are in a position to build wealth, to make sure people can live a good quality of life.”
The law is intended to alleviate the growing housing crisis by expanding housing developments, increasing homeownership and ramping up home renovations within the tribe's boundary.
“It’s just what the Cherokee Nation ought to do,” he said. “And we’re in an era where we can choose to do this.”
According to Hoskin, the permanent housing funds are a way to move away from relying on federal funding as the tribe prospers.
“It’s a significant move for the Cherokee Nation,” he said. “It means we’re not going to bounce back and forth between just relying on federal funds or having a sporadic influx of business revenue. We’re going to be on a dedicated path and have real thoughtful plans about it.”
Hoskin officially signed the law into effect on Friday.