General News Category Archives

$20.40 Hourly Wage Needed to Afford One-Bedroom

The National Low Income Housing Coalition released its annual “Out of Reach” report for 2021, detailing the gap between the cost of rental housing and tenants’ incomes across the nation. This year’s report reveals the extent to which costs have outpaced wages far before the economic crisis brought on by the COVID-19 pandemic, which has further exacerbated hardships and inequalities for low wage workers disproportionately affecting those who are Black, Brown, Indigenous and/or Latino. Whether the market is in a period of economic growth or downturn, low-wage workers struggle to find affordable homes.  

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Newsom Names Tiena Johnson Hall CalHFA Executive Director

California Gov. Gavin Newsom (D) announced the appointment of Tiena Johnson Hall as the new executive director of the California Housing Finance Agency (CalHFA). 

Johnson Hall, a member of CalHFA’s Board of Directors since November 2014, has served as a senior vice president and manager of community development finance for BBVA Compass Bancshares Inc. since October 2014. Prior to that, she held various housing positions in both the private and public sectors. 

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Arizona Legislature Passes State LIHTC

On June 29, the Arizona state legislature passed a State LIHTC in S.B 1124. The state credit available to properties placed in service after June 30, 2022 is equal to at least fifty percent of the federal credit with a $4 million annual cap. Governor Doug Ducey (R) has until July 12 to sign or veto the bill, otherwise it will become law on its own. 

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Initiate FHLBank of Pittsburgh AHP Application by July 9

The Federal Home Loan Bank of Pittsburgh is encouraging applicants of its Affordable Housing Program (AHP) to initiate their application by July 9. Applicants will receive a link to the bank’s recorded AHP Tips Webinar. Applications are due by 5 p.m. ET on August 10. For more info, please see the Technical Guide for Sponsors or Technical Guide for Members. If you have questions about the AHP application process, please contact ahp@fhlb-pgh.com.

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