General News Category Archives

$20.40 Hourly Wage Needed to Afford One-Bedroom

July 21, 2021 | General News

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.

Newsom Names Tiena Johnson Hall CalHFA Executive Director

July 21, 2021 | General News

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.

Pennsylvania Budget Includes $50 Million for Construction Cost Relief Program, Increases to State Credits

July 21, 2021 | General News

The fiscal year 2021/2022 Pennsylvania state budget includes funding for the development of affordable rental housing in three main program areas:

Arizona Legislature Passes State LIHTC

July 14, 2021 | General News

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.

California 2021-2022 Budget Includes $5 Billion for Affordable Housing

July 14, 2021 | General News

Governor Gavin Newsom (D) recently approved California’s 2021-2022 budget, which includes the following investments in affordable housing:

California Extends Eviction Moratorium Through Sept. 31, Will Pay All Past Due Rent

July 14, 2021 | General News

A bill recently approved by California legislature and Governor Gavin Newsom (D) extends the state’s eviction moratorium through the end of September and will pay off 100 percent of all past due rent from April 2020 through September 30, 2021 for tenants making less than 80 percent of the area median income. The state will also assist with unpaid utility bills.

Oregon Legislature Invests $896 Million In Housing

July 14, 2021 | General News

The Oregon legislature approved $896 million invested in housing solutions in Oregon Housing and Community Services’ 2021-2023 biennium budget, more than double that of the last biennium:

Illinois Passes Affordable Housing Property Tax Incentive

July 7, 2021 | General News

A new property tax incentive passed the Illinois General Assembly in the landmark affordable housing omnibus and is now on to Governor JB Pritzker (D) for signature. The incentive establishes tiers of affordability and property tax relief

Initiate FHLBank of Pittsburgh AHP Application by July 9

July 7, 2021 | General News

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.

The State of Nation’s Housing: Even More Unequal Following COVID-19

June 22, 2021 | General News

The Joint Center for Housing Studies (JCHS) of Harvard University’s 2021 State of the Nation’s Housing report describes the K-shaped economic recovery in which higher-income households used wealth accumulated throughout the pandemic to purchase homes, while others struggled to stay in their homes as incomes dropped precipitously.