HUD’s 2018 Annual Homeless Assessment Report to Congress found that 552,830 persons experienced homelessness on a single night in 2018, an increase of 0.3 percent since last year. The report did note significant declines among veterans as well as families with children experiencing homelessness with a 5.4 percent and 2.7 percent nationwide decline over 2017, respectively.
HUD Deputy Secretary Pam Patenaude announced she will be leaving HUD in the new year. FHA Commissioner Brian Montgomery has been named as Acting Deputy Secretary.
President Trump signed an executive order creating the White House Opportunity and Revitalization Council. The council, led by HUD Secretary Carson, spans 13 federal agencies with the intent of prioritizing opportunity zones in a variety of federal efforts, including grant funding, loan guarantees, infrastructure spending and crime prevention.
The 2019-2020 Qualified Allocation Plan approved by the Virginia Housing Development Authority is now available.
A new Rental Assistance Demonstration (RAD) notice from HUD amends the previous final notice by stating that “that execution of a Project Based Rental Assistance (PBRA) contract as a result of the conversion of Rent Supp, RAP, Mod Rehab, or Mod Rehab SRO contracts through RAD after the publication of this notice does not trigger Davis-Bacon prevailing wage requirements.”
The New Hampshire Housing Finance Authority (NHHFA) recently issued its Income Averaging (IA) policy. Both four and nine percent Low Income Housing Tax Credit projects are eligible to select IA as a minimum set-aside.
The city of Miami has released a list of the first round of projects to be funded by the $400 million Miami Forever General Obligation bond.
House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced a new year-end tax relief package. The bill includes the same provision in his original bill that clarifies that veterans are a specified group for preferences within the Low Income Housing Tax Credit (LIHTC) program and extends the LIHTC public use provisions from nine percent allocations to also include four percent bond allocations.
The White House announced its intent to nominate Mark Calabria to take over as director of the Federal Housing Finance Agency (FHFA) following the departure of current FHFA director Mel Watt on Jan. 4, 2019.
The ACTION Campaign updated its district fact sheets with new data to show the LIHTC’s impact in each congressional district. Last month they released the updated state fact sheets.
The U.S. Department of the Agriculture though the Rural Utilities Service is accepting applications for the Rural Broadband Access Loans and Loan Guarantees Program. Loans will be made available for the construction, improvement, and acquisition of facilities and equipment that will provide service at the Broadband Lending Speed in eligible rural areas with loans ranging from $100,000 to $25 million.
A new note from Peter Lawrence with Novogradac and Co. analyses state use of the private activity bonds (PABs). In 2017, eleven states reported no multifamily PAB issuance, up from ten in 2016 and down from the high of 30 in 2011.