In November, I attended a White House meeting on Resident-Centered Management Practices to solicit best practices.
Fall, for me, evokes the feeling of the beginning of the end. The leaves dazzle us with one final burst of color before winter sets in. Congress starts a new fiscal year and will eventually fund the government. Cue the steady drip-drip-drip of holidays cresting with New Year’s Eve and year-end tax bills. I hope you were able to unplug for a bit before the fall heats up with Low Income Housing Tax Credit applications due, conferences to attend and an election leading into a legislative sprint to clear the decks for the next Congress.
In July, the U.S. Department of the Treasury released updated frequently asked questions and an Affordable Housing How-To Guide surrounding the use of Coronavirus State and Local Fiscal Recovery Funds (SLFRF) from the American Rescue Plan (ARP) for the construction and preservation of affordable housing.
I’ve heard the current development environment described as playing whack-a-mole: as soon as one problem is solved, another crops up.
Affordable housing is facing many headwinds: rising interest rates, inflation, increased insurance costs, supply chain delays and labor shortages, just to name a few.
NH&RA joined a letter urging Congress to include investments to retrofit rental homes to reduce energy costs and emissions and preserve affordable housing, as well as a letter requesting $150,000,000 for the Family Self-Sufficiency (FSS) program in FY23 appropriations. The letter also requests that Congress strike language from past appropriations legislation that prohibited HUD from […]
Last week, federal bank regulatory agencies jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The proposed rule has the following key elements: Expand access to credit, investment and basic banking services in low- and moderate-income (LMI) communities. Under the proposal, the agencies would evaluate bank performance across the […]
Last week, Deputy Secretary of the Treasury Wally Adeyemo visited an affordable housing services center in the City of Compton in Los Angeles County where he highlighted how California is using American Rescue Plan funds to keep families in their homes and build more affordable housing. California budgeted over $7.4 billion of its State and […]
A few weeks ago, NH&RA and several of our partners sent a letter to Treasury Secretary Janet Yellen urging that Community Development Finance Tools be preserved under a New Global Minimum Tax. Last week, the Assistant Secretary for Tax Policy Lily Batchelder singled out breaks for low-income housing, renewable energy and the New Markets Tax […]
The California Housing Partnership recently analyzed data from the first three years of program awards of CalHFA’s Mixed Income Program (MIP) to assess its impact to date and compare it with other longstanding affordable housing finance programs on such factors as development type and location, levels of affordability and costs. Key findings from the MIP […]
Kansas Governor Laura Kelly (D) signed legislation to create a State LIHTC for up to the amount of the Federal LIHTC award to a property. The legislation also increased the State Historic Tax Credit (HTC) percentages for certain properties. H.B. 2237 would create the State LIHTC effective for tax years beginning January 1, 2023 or […]