Federal / Agency News

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

Senator Maria Cantwell (D-WA) introduced legislation calling for a 50 percent increase in Housing Credit authority and other changes to strengthen the Credit program. She has also released an accompanying report on the Housing Credit’s impact.

While it is far from perfect in the eyes of affordable housing advocates, it would expand several key programs and is seen as a tepid victory in the current spending climate.

NTCIC seeks participants for June 8th lobby day in favor of the Federal Historic Tax Credit and additional efforts to expand support for the Historic Tax Credit Improvement Act.

Nixon Peabody’s Forrest Milder explains new guidance for wind, geothermal, biomass, solid waste, and hydro projects, including new safe harbor and disaggregation rules.

MORs property inspections will be conducted by the 42 existing Project-Based Contract Administrators as part of their amended interim contracts with HUD, mostly likely starting on a limited number of properties.

For the first time ever, HUD allocated nearly $174 million through the nation’s Housing Trust Fund. By law, each state is allocated a minimum of $3 million.

In an attempt to strengthen the LIHTC program through federal legislation, Senator Cantwell is seeking personal stories of individuals and families who have struggled to find affordable housing and/or have experienced homelessness. NH&RA encourages our members who own and manage affordable housing properties to share this opportunity with their tenants.

By combining the CY 2015 and CY 2016 allocation rounds, the CDFI Fund will be able to announce the allocation of New Markets Tax Credits in the year for which they are authorized, and will be able to help more communities access the benefits of the tax credits sooner.

Tenants at Burbank Apartments in Massachusetts sued when the building’s owner decided not to renew a Section 8 contract with HUD, arguing that it would disproportionately impact people of color. The court’s final decision was made after careful consideration of last summer’s Supreme Court ruling on disparate impact and the Fair Housing Act.

HUD is soliciting applications for the FY2016 Choice Neighborhoods Implementation Grants program. The maximum grant award is $30 million. Applications are due on June 28, 2016.

All Section 236 loans will mature in the next 3 years and HUD is encouraging all owners and managers of Section 236 projects to take action in 2016 to preserve their properties as affordable housing. A new step-by-step guide to preservation explains key financial issues and guidance.

The LIHTC portfolio grew by 481 properties, encompassing 125,876 units, from 2012 to 2013, according to recent data from HUD. The report was a follow-up to last year’s release of Understanding Whom the LIHTC Program Serves: Tenants in LIHTC Units.