General News
Nixon Peabody: Latest Round of Opportunity Zone Regulations Clarify Some Issues, Leave Others Murky
Forrest David Milder with Nixon Peabody released this alert on the second round of Opportunity Zone Guidance released by the Department of the Treasury.
Survey Concludes One-Third of Americans Have Trouble Finding Affordable Housing Near Their Workplace
Fannie Mae and research firm Penn Schoen Berland (PSB) released survey data that found most Americans are struggling to find affordable housing near their job, better schools, childcare and job opportunities.
NCSHA Urges Treasury and IRS to Provide Guidance to HUD on Income Limits for Income Averaging Developments
The National Council of State Housing Agencies sent a letter to the Department of the Treasury and IRS urging them to expedite guidance to HUD on how it should establish income limits for the 20, 30, 40, 70, and 80 percent of area median income (AMI) levels necessary for Housing Credit projects that elect to use the average income test for their minimum set-asides.
Colorado Legislature Advances Legislation to Increase State Tax Credit
The Colorado Senate Finance Committee passed HB19-1228, Increase Tax Credit Allocation Affordable Housing, on a unanimous 7-0 vote.
NHC Publishes 2018 Paycheck to Paycheck Report
The National Housing Conference (NHC) released its 2018 edition of Paycheck to Paycheck, a database allowing users to discover the rental and homeownership affordability challenges of workers in 81 occupations in 259 metro areas nationwide. The accompanying report highlights the affordability challenges of five workers in the construction industry face: carpenters; electricians; heating, ventilation, and air conditioning (HVAC) mechanics; maintenance workers and plumbers.
Novogradac & Company Publishes Blog Post on Treasury’s OZ Guidance
NH&RA member Michael Novogradac, CPA, discussed the second tranche of opportunity zones (OZ) guidance released by Treasury in a Notes from Novogradac blog post. The post is Part I of a two-part series reviewing the issues addressed in the release, as well as some of the open questions that remain.
Woda Cooper Companies opens Shepard Greene affordable senior community in Zebulon, NC
On April 8, the Woda Cooper Companies opened its new Shepard Greene housing community in Zebulon, NC. The 50-unit apartment community offers age-in-place features and energy-efficient apartments for residents aged 55 years and older who are at 60 percent area median income or less.
Virginia Increases FY 2019-2020 VHTF by $4 Million Per Year
The Virginia General Assembly approved an amendment from Governor Northam (D) to increase appropriations for the Virginia Housing Trust Fund (VHTF) by $4 million in FY 2019 and FY 2020. T
Renters Report Housing Costs Significantly Impact Their Health Care
A new national survey on the connection between homes and health from NH&RA member Enterprise Community Partners Inc. (Enterprise) finds that more than half of renters surveyed have delayed care because they couldn’t afford it and 100 percent of medical professionals surveyed have had at least some of their patients express concerns about affordable housing.
Public Overwhelmingly Believes Housing Affordability Should Be A Top National Priority; Expects Congress and President To Take Major Action
The Opportunity Starts at Home campaign released the results of a national public opinion poll showing that the vast majority of the public (85 percent) believes that ensuring everyone has a safe, decent and affordable place to live should be a “top national priority.”
FHLB Chicago 2019 AHP Application Workshops
Join the Federal Home Loan Bank (FHLB) of Chicago staff to learn more about the 2019 competitive Affordable Housing Program (AHP). Workshops cover eligibility, project feasibility and changes to the scoring guidelines. Member institutions, potential sponsors and project consultants are encouraged to attend.
Oregon’s Land Acquisition Program
Oregon Housing and Community Services (OHCS) opened a Land Acquisition Program (LAP) in November of 2018 with $2.5 million in available resources. This program is designed to provide loans for purchasing land for affordable homeownership and affordable rental housing. Loan periods may not exceed 8 years and loan terms are 1 percent simple interest and a 1 percent loan fee is paid at the time of the construction loan.