Senators Maria Cantwell (D-WA), Rob Portman (D-OH), Ron Wyden (D-OR) and Todd Young (R-IN) along with Representatives Don Beyer (D-VA), Suzan DelBene (D-WA), Jackie Walorski (R-IN) and Brad Wenstrup (R-OH) introduced the Affordable Housing Credit Improvement Act of 2021 (AHCIA).
Last week, President Joe Biden sent the administration’s fiscal year (FY) 2022 discretionary funding request to Congress. The HUD budget requests $68.7 billion, a $9 billion or 15-percent increase from the 2021 enacted level. The funding request does not include line-by-line program requests, but rather requests for a few key HUD programs. A full budget request is expected later this spring.
The Faircloth-to-Rental Assistance Demonstration (RAD) pathway represents an innovative solution for Public Housing Authorities (PHAs) to use existing federal authority to create up to 220,000 new units of deeply affordable housing.
The Michaels Organization said it is set to begin lease-up of The Zoey, a market-rate property in the East Riverside area of Austin with a six-story multifamily community providing 341 luxury apartment homes, 38 of which are designated as affordable living.
Monarch Private Capital said it has named Bryan Mills as new in-house counsel, responsible for providing legal direction on a wide range of matters in connection with federal and state tax credit equity transactions, loans, asset management, risk and compliance, contract negotiations and general legal needs of the business.
Longtime CEO of the Arlington Partnership for Affordable Housing Nina Janopaul will retire June 30, 2021, APAH said in an announcement. The APAH board has appointed Executive Vice President Carmen Romero to take over leadership of APAH as its new president and CEO on July 1, 2021.