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 […]
The Alaska Housing Capital Corporation (AHCC) will hold its annual membership meeting at 9:30 a.m. AKT on May 18. The AHCC Board of Directors will meet upon adjournment of the membership meeting. Both meetings will take place via WebEx, dial 907-330-8452 three days prior to the meetings to request the access code. The Alaska Housing […]
The Arizona Department of Child Safety (DCS) published an open solicitation for Transitional Housing services. The purpose of this contract is to provide a program of services that includes an array of transitional housing opportunities to young adults ages 18 to 21 in the Extended Foster Care program (EFC) and the Transitional Independent Living Program […]
The Colorado Housing and Finance Authority (CHFA) updated its utility allowance policy for LIHTC and CHFA multifamily loan developments. Specific changes include the following. The Colorado Department of Local Affairs-Division of Housing (DOLA) schedule is now considered an applicable PHA schedule for all counties in Colorado (see Option One: Public Housing Authority Schedule on page […]
Florida Housing issued Invitation to Participate (ITP) Construction Housing Inflation Response Program (CHIRP), which provides funding to assist competitive projects in the development pipeline experiencing cost increases related to market inflation. CHIRP funding is intended to fill the funding gap experienced due to increased construction costs. CHIRP funding is not intended to support operating expenses […]