Federal / Agency News
Congress Returns from Recess; Fiscal Calendar Ends Sept. 30th
It is safe to say a continuing resolution is on the horizon.
HUD Names New Southwest Multifamily Regional Director
Mary Walsh was announced as the new Southwest Multifamily Regional Director for the Department of Housing and Urban Development (HUD).
HUD Publishes FY 2017 Fair-Market Rents
HUD recently posted Fiscal Year 2017 Fair-Market Rents (FMR) to the huduser.gov site.
FHFA Increases Multifamily Lending Caps for GSEs
The increase comes in light of continued high levels of property acquisitions and deliveries of newly constructed apartment units…
NMTC Data Released: Commercial Real Estate and Higher Distress Areas Dominate
The data covers 4,541 total Qualified Active Low-Income Community Businesses and almost $38.5B in NMTC investments.
New Online Resource Illustrates Challenges to Developing Affordable Housing
Urban Institute and National Housing Conference have together created an interactive webpage which illustrates the need for subsidy when charging affordable rents to low-income families.
IRS Releases Long-Anticipated Guidance on 50(d) Income
On July 21st, the IRS released guidance regarding Internal Revenue Code 50(d)(5). The long-awaited guidance affects market rate transactions involving Historic Tax Credits.
Congress Unanimously Approves Housing Opportunity Through Modernization Act
If signed into law, the bill would strengthen the project based rental assistance program, reduce the burden of public housing and PBRA unit inspections, and change the way tenant incomes are calculated, reviewed, and addressed.
Senators Cantwell and Hatch Introduce Second Piece of Legislation Amending the LIHTC
On Thursday, July 14, Senate Finance Committee member Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced legislation (S.3237) to improve the Low Income Housing Tax Credit.
Historic Tax Credit Advocacy During Summer Recess Urgently Needed
Historic Tax Credit Advocacy During Summer Recess Urgently Needed The Historic Tax Credit (HTC) is the most significant federal financial commitment to historic preservation. Over the last 36 years, the credit has created 2.3 million jobs, leveraged $117 billion in investment, and rehabilitated more than 41,250 buildings — all while generating enough in federal taxes […]
HUD Announces New Details Regarding RAD Closing Process; Schedules Webinar
In late March, HUD’s Office of Recapitalization hosted a listening session to receive feedback on how they can facilitate more efficient closings of RAD transactions. The session has resulted in changes regarding the HAP effective date and information regarding initial year funding.
House Releases Tax Reform Blueprint, Silent on LIHTC
The policy blueprint, which is entitled “A Pro-Growth Tax Code for All Americans,” contains no legislative language and outlines how the House plans to continue working on tax reform into 2017.