Federal / Agency News

HUD

HUD Outlines Revisions to Multifamily Accelerated Processing Guide

HUD announced a series of clarifications that are effective immediately and will be reflected in a revised Multifamily Accelerated Processing (MAP) Guide. They focus on equal pay-in, bridge loans, identity of interest, subordinate debt, vacancy rates, and developer fees.

Florida

Leaders of Affordable Housing Convene at NH&RA Annual Meeting

Representatives from more than 100 of the nation’s top affordable housing organizations gathered at the Ocean Reef Club in Key Largo, FL, last week for the 2015 NH&RA Annual Meeting. The event’s panel sessions created dialogues on what’s challenging – and exciting – affordable housing developers, illuminated the products and people who will shape the tax credit transactions in upcoming year, offered options to properties approaching year 15, and surveyed key changes to tax credit programs and legislation.

HUD

Public Housing Symposium Fosters Insightful Dialogue with HUD Officials

NH&RA’s first-ever Public Housing Joint Venture Symposium offered attendees a unique opportunity to gain insight into the progress and updates to key HUD programs. More than 100 developers, syndicators, lenders, and other members of the affordable housing community gathered to voice their concerns and questions to HUD representatives, as well as connect with peer organizations who are working on similar issues.

HUD

Administration’s FY 2016 Budget Offers Promising Proposals

On February 2, President Barack Obama introduced his fiscal year (FY) 2016 budget, requesting a total of $49.3 billion for Department of Housing and Urban Development (HUD) programs and proposing significant policy changes aimed at improving the Low-Income Housing Tax Credit (LIHTC) program and a proposal to modify and permanently extend the New Markets Tax Credit (NMTC) program.

HUD

UPDATE: HUD Continues Changes to Support RAD Under 2015 Funding Plan

The U.S. Department of Housing and Urban Development (HUD) released a notice in the Federal Register announcing its plan to implement changes made to the Rental Assistance Demonstration (RAD) program in the 2015 HUD Appropriations Act.

congress-capitol

Senate Finance Committee Announces Tax Reform Working Groups

Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) recently announced the launch of five separate bipartisan Finance Committee Tax Working Groups to spur congressional comprehensive tax reform efforts in the 114th Congress.

Texas

Supreme Court Hears Oral Arguments on Fair Housing Case

The United States Supreme Court recently heard oral arguments related to Texas Department of Housing and Community Development (TDHCA) vs. Inclusive Communities Project (ICP), a case that is examining whether or not disparate impact is “cognizable” under the Fair Housing Act.

HUD

HUD Releases New Report: Whom Does LIHTC Serve?

In a recent report Understanding Whom the LIHTC Program Serves, HUD examines several years of demographic and economic data on LIHTC tenants provided by state housing finance agencies through an annual data collection process mandated by HERA.

HUD

HUD Proposes to Align Requirements for Certain Programs

HUD recently issued a Notice in Federal Register seeking to streamline requirements across the public housing and Section 8 (tenant- and project-based) portfolios.

congress-capitol

NH&RA Joins Call to Support Affordable Housing Funding

NH&RA signed-on to support the National Low Income Housing Coalition’s campaign to urge lawmakers to to act quickly to stop budget caps and sequestration from taking effect in the upcoming fiscal year.

congress-capitol

Legislation and Report Target Tax Reform

On Dec 11, 2014, House Ways and Means Committee chairman Rep. Dave Camp H.R. 1, released the Tax Reform Act of 2014 and U.S. Senate Senate Finance Committee Republican staff released the report “Comprehensive Tax Reform for 2015 and Beyond.” Both the legislation and the report have implications for the future of housing tax credits.

Federal Housing Finance Agency

Housing Trust and Capital Magnet Funds Will Be Funded

Federal Housing Finance Agency (FHFA) Director Melvin L. Watt instructed Fannie Mae and Freddie Mac to begin setting aside and allocating funds for the Housing Trust Fund and the Capital Magnet Fund. The funds have sat empty since they were created six years ago due to a temporary suspension.

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