Federal / Agency News

NH&RA News

NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

HUD

Secretary Fudge to Retire on March 22

HUD Secretary Marcia Fudge announced her retirement and resignation from the position of Secretary of HUD, effective March 22, 2024.

FHFA Hosts Multifamily Insurance Symposium – Today, March 13; Treasury Department Announces Collaboration with Regulators Studying Insurance Cost Impact

The Federal Housing Finance Agency (FHFA) is holding a Multifamily Insurance Symposium from 10 a.m. to 4 p.m. ET today, March 13.

Presidential Seal

Biden-Harris Administration Releases FY 2025 Budget Request; Housing Featured in State of the Union

Earlier this week, the Biden-Harris administration released its Fiscal Year (FY) 2025 budget request, which serves as a marker for policy priorities, especially during a presidential election year.

General News

Tax Court Rules on Including Construction Period Finance Costs in LIHTC Basis

In the 23rd Chelsea Associates case, the U.S. Tax Court ruled that an appropriate share of finance costs attributable to the construction period of the affordable housing part of a project can be included in tax credit basis.

Department of Energy

DOE Publishes Rebate/LIHTC Case Study

The Department of Energy (DOE) published a new case study on Using Whole Home Energy Rebates to Preserve Affordable Multifamily. 

Treasury

Treasury Modifies SLFRF, ERA Rules to Amplify Housing Production

The Treasury Department announced updated guidance for the State and Local Fiscal Recovery Fund (SLFRF) and the Emergency Rental Assistance (ERA2) programs, which make it easier for states and local governments to use these programs to build and preserve affordable housing.  

HUD

Proposals for HUD’s Innovative Housing Showcase Exhibitors Due March 29

HUD issued a notice requesting proposals from exhibitors to showcase innovations for the Innovative Housing Showcase in June of this year in Washington, DC.

General News

Freddie Mac Requires Multifamily Underwriting Appraisal Checklist

Effective March 4, Freddie Mac underwriters requires a new compliance checklist for the initial appraisal submitted to Freddie Mac for each loan/property.

General News

NLIHC Publishes 2024 Advocates’ Guide

The National Low Income Housing Coalition released the Advocates’ Guide 2024: A Primer on Federal Affordable Housing and Community Development Programs and Policies.

Presidential Seal

Biden-Harris Administration Extends FFB Risk-Sharing Program Indefinitely

The Biden-Harris administration announced new actions to boost housing supply and lower housing costs, including an indefinite expansion of the Federal Financing Bank (FFB) Risk-Sharing program.

HUD

HUD Publishes Budget Based Rent Adjustments for Mark-to-Market (M2M) Properties Notice, Training March 12

HUD’s Office of Multifamily Housing Programs published Housing Notice 2024-05, which allows budget-based rent adjustments (BBRA) for Section 8 project-based rental assistance housing assistance payment contracts at properties subject to a M2M Use Agreement.

house-of-representatives-seal

Appropriations Update

The House will vote on six of the 12 Fiscal Year (FY) 2024 bills today.

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