The New Markets Tax Credit (NMTC) Coalition has published its latest annual progress report for the NMTC Program. The 2019 survey findings show that program participants – from investors to community development organizations to the CDFI Fund – continue to improve and refine the program’s efficiency and impact in low-income communities.
Read MoreHUD Secretary Dr. Ben Carson was added to the White House Coronavirus Task Force. While the risk of infections for Americans remains low, HUD is encouraging multifamily owners and agents, Public Housing Authorities, Performance Based Contract Administrators, FHA lenders to make the information below available to residents and employees.
Read MoreThe Stewards of Affordable Housing for the Future (SAHF) will host a CORES 101: Overview of the CORES Certification & Application webinar at 1:30 pm ET on March 17.
Read MoreHigh-income renters don’t just rent high-end units. Some high-income renters choose to rent units that would be affordable to renters with lower incomes, thereby reducing the number of affordable units available to lower income households.
Read MoreThe Community Economic Development Assistance Corporation released a report, which explores the risk that LIHTC-financed properties in Massachusetts will convert to market-rate housing at Year 30. Roughly 86 percent of the 15,679 LIHTC units approaching year-30 are subject to some form of longer-term affordability restriction and will not be at risk for market conversion before December 31, 2030.
Read MoreThe California Housing Partnership and Housing California released California’s Roadmap HOME 2030, an initiative to develop a ten-year “Marshall Plan” that will set the course for creating a California with homes for all.
Read MoreMaine Governor Janet Mills (D) signed H.P. 1180 to create a State LIHTC that is equal to the Federal LIHTC, beginning January 1, 2021. The Maine LIHTC will have a $10 million annual statewide cap, but unallocated funds can be carried forward to create a maximum $15 million per year.
Read MoreThe Metropolitan Council of Nashville and Davidson County (Metro Council) amended the original fast track legislation to include inspections and certificates of occupancy by the Department of Codes and Building Safety for qualifying affordable housing developments.
Read MoreOn the one year anniversary of Microsoft’s $500 million investment in affordable housing, the company announced an additional $250 million investment in affordable housing. The new investments will be placed with the Washington State Housing Finance Commission to allow them to bridge tax-exempt bond cap as well $50 million to seed the new Evergreen Housing Impact Fund.
Read MoreLei Ding and Peter Birke of the Federal Reserve Bank of Philadelphia have published a report on Opportunity Zones, “How Are Cities Leveraging Opportunity Zones for Community Development? Philadelphia as a Case Study.” Using Philadelphia as a case study, this study intends to reflect on the selection of Opportunity Zones in major cities and to explore real estate market trends and residential mobility in designated zones in Philadelphia.
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