Federal / Agency News
Capital Magnet Fund Remains Oversubscribed
120 organizations applied for almost $540 million, with only $119.5 million available in the round.
FHFA Publishes Fannie and Freddie Duty to Serve Plans for 2018-2020
Fannie Mae plans to purchase 269 loans secured by LIHTC properties during the two-year period while also making five LIHTC equity investments in 2019. Freddie Mac plans on making nine LIHTC equity investments during 2018-2020 serving high-needs rural regions.
Senate Confirms Paul Compton Jr. as HUD General Counsel
NH&RA congratulates Mr. Compton on his confirmation!
Tax Reform Signed Into Law; PABs, Historic, NMTC Preserved
Today, the Senate and House have both passed the conference report of HR 1 – the GOP’s tax overhaul plan. The bill is expected to be signed into law by President Trump later this week.
New Markets Tax Credit Pays for Itself and Then Some, New Report Finds
Between 2003 and 2015, NMTC investments generated more than $156 billion in economic activity, creating over 1 million jobs and $6.7 billion in state and local tax revenues.
CDFI Fund Hosts Q&A Sessions on 2018 Bond Guarantee Program – $500M Available to CDFIs
A total of up to $500 million in bond guarantee authority is available to eligible Community Development Financial Institutions (CDFIs) in FY 2018, pending Congressional authorization.
House, Senate Pass Two-Week Continuing Resolution
The House is likely to have a floor vote on Thursday for a two-week continuing resolution to avoid a government shutdown Friday at midnight. The potential for snags could come from Democrats and Conservative Republicans alike, for differing reasons.
CNA eTool Mandatory Usage for Certain RAD Properties Begins 2/1/2018
To support a growing number of users, HUD’s Office of Multifamily continues to train staff and the CNA e-Tool team has provided many resources.
FHFA Announces Reduced 2018 MF Lending Caps for GSEs
To be excluded from the caps, loans for water and energy efficiency improvements must demonstrate at least a 25% energy or water savings.
Freddie Mac Creates Impact Gap Execution for Unsubsidized Affordable Properties
This will give nonprofit borrowers a needed edge to compete with market rate developers, helping save naturally affordable properties from common issues including deterioration, abandonment, and gentrification.
NMTC/HTC Support Letter for House Republicans Closes Today – Urge Your Rep. to Sign-On
Congressman Smucker (R-PA) is requesting signatures for a letter urging Speaker Paul Ryan and Chairman Kevin Brady to preserve the Historic Tax Credit (HTC) and make the New Markets Tax Credit (NMTC) permanent. The letter is open to House Republicans and it closes TODAY, Wednesday, November 29th at 7 p.m. Eastern.
Updates to Flat Rent Requirements
The Notice, issued November 15, supersedes and replaces the guidance provided in Notice PIH 2015-13 and clarifies HUD’s interpretation of the statutory amendment related to flat rents.