Federal / Agency News
Long-time HUD Official Selected to Lead Office of Asset Management and Portfolio Oversight
Nancie-Ann Bodell has been selected to permanently lead the Department of Housing and Urban Development Office of Asset Management and Portfolio Oversight (OAMPO). Nancie-Ann has spent more than 25 years in the Office of Multifamily Housing at HUD.
It’s Time to Call Your Congressman
Key housing programs are in serious jeopardy. Your elected officials will soon be back in your district for August recess and there’s no better time to reach out and show them the importance of the programs that support the development of affordable housing.
Report Recommends Joint IRS-HUD Administration to Oversee LIHTC Program
A report from the Government Accountability Office suggests that a joint administration between the IRS and the Department of Housing and Urban Development (HUD) would benefit the Low-Income Housing Tax Credit Program.
White House Amps Up Renewable Energy Goals for Federally-Subsidized Housing
The Obama Administration announced a new solar initiative to increase access to solar energy, including low- and moderate- income communities, and expand opportunities join the solar workforce. Among several key components, the initiative aims to install 300 megawatts of renewable energy in federally-subsidized housing.
IRS Issues Update on Qualifying Date for Energy Properties
The Treasury Department and the Internal Revenue Service released performance and quality standards that small wind energy property must meet to qualify for the renewable energy investment tax credit (ITC) or production tax credit (PTC).
House Passes Legislation to Support Upgrades to Water, Energy Systems in HUD-Assisted Properties
The U.S. House of Representatives passed a bill that would help leverage private investment to fund upgrades to water and energy systems in aging HUD-assisted housing. The bill will go next to the Senate for consideration.
HUD Seeks Mission-Based and Private Lenders for Small Building Risk-Sharing Initiative
The U.S. Department of Housing and Urban Development announced a Small Building Risk Sharing Initiative, which aims to facilitate the financing of small multifamily properties. HUD is looking for both “Mission Based Lenders,” including Community Development Finance Institutions (CDFIs), other nonprofit lenders, public and quasipublic agenices, and “Private Lenders” that are approved as FHA MAP Lenders to participate in the program as Qualified Sharing Program Entities (QPEs).
Legislators Introduce Companion Bills to Provide LIHTC, NMTC to Disaster-Hit Communities
Senate bill (S. 1795) and House bill (H.R. 3110) aim to provide tax relief to communities hit by natural disaster between 2012 and 2015. Provisions include an increased allocation of housing credits and the opportunity to compete for an additional allocation of New Markets Tax Credits.
CDFI Fund Releases NMTC Eligibility Data for 2010 Census Tracts in Island Areas
The Community Development Financial Institutions Fund (CDFI Fund) has released New Markets Tax Credit Program (NMTC Program) eligibility data for 2010 census tracts in the Island Areas of the United States (American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands).
Senate Committee Approves Bill That Fixes 9% and 4% Credit Rate Floors
Senate Finance Committee approved a tax extender bill that fixes the 9% and 4% credit rate floor for allocations made in 2015 and 2016. These provisions are part of a larger two-year tax extender bill.
HUD Fair Housing Rule Provides Clarifications, Offers Data
The U.S. Department of Housing and Urban Development (HUD) released a final rule on affirmatively furthering fair housing. The rule clarifies existing fair housing obligations and indicates that HUD will provide open data and technical assistance for HUD grantees to meet those obligations.
Housing Assistance Council Releases FY-2015 Rural Housing Program Report
A FY-2014 report from the Housing Assistance Council provides an overview of the United States Department of Agriculture’s (USDA) rural housing loan and grant obligation activity. For multi-family programs, the report looks at how Section 515 funds, multi-family housing vouchers, and rental assistance contracts were awarded.