News

senate-seal

Senate Passes Inflation Reduction Act – Housing Not Included

Over the weekend, the Senate passed the Inflation Reduction Act via the reconciliation process, which only requires passage via a simple majority.

Treasury

Treasury Webinar on SLFRF for Affordable Housing Production, Preservation – Aug. 10

The Department of the Treasury will hold a webinar on how State and Local Fiscal Recovery Funds (SLFRF) can be used for affordable housing production and preservation.

General News

NLIHC Releases Annual Report on the High Cost of Housing

The National Low Income Housing Coalition published its 2022 Out of Reach: The High Cost of Housing report detailing the average hourly wage an individual working full time (40 hours per week) must earn to afford a modest apartment without spending more than 30 percent of their income on housing.

senate-seal

Senate Appropriations Committee Releases FY 2023 Spending Bills

Last week the Senate Appropriations Committee released all 12 of its FY2023 appropriations bills.

HUD

Marion Mollegen McFadden Joins HUD as PDAS for CPD

Marion Mollegen McFadden joined the Biden-Harris administration as principal deputy assistant secretary for community planning and development at HUD.

Treasury

New Treasury Guidance Adds Flexibility for Unobligated ERA 2 Dollars

The U.S. Department of the Treasury recently updated its Frequently Asked Questions (FAQs) guidance for the Emergency Rental Assistance (ERA) program to provide additional flexibilities under the American Rescue Plan Act for ERA 2 dollars that are unobligated as of Oct. 1, 2022.

USDA Rural Development

USDA Announces $401M for High-Speed Internet Access in Rural Areas

The U.S. Department of Agriculture (USDA) announced $401 million to provide access to high-speed internet for 31,000 rural residents and businesses in 11 states, part of the Biden-Harris administration’s commitment to investing in rural infrastructure and affordable high-speed internet for all.

General News

CDFI Fund Hosts Call for CDFIs in ACR-Related Cure Period – Aug. 10

The Community Development Financial Institutions Fund (CDFI Fund) is holding an informational conference call from 3 to 4 p.m. ET on August 10 for Community Development Financial Institutions (CDFIs) currently in a Certification cure period related to the submission of a 2021 or 2022 Annual Certification and Data Collection Report (ACR).

Minnesota

Minnesota’s Ten-Year Economic Expansion Plan Includes Housing

Governor Tim Walz (D) announced a ten-year economic expansion plan, which offers long-term steps to continue improving Minnesota’s economy.

senate-seal

Recap of Senate Banking Committee Hearing on How Renters and Communities are Impacted by Today’s Housing Market

On August 2, the Senate Committee on Banking, Housing and Urban Affairs held a hearing entitled “‘The Rent Eats First’: How Renters and Communities are Impacted by Today’s Housing Market.”

USDA Rural Development

USDA Launches Partnership with EPA to Provide Wastewater Sanitation to Underserved Communities

The U.S. Department of Agriculture (USDA) and the U.S. Environmental Protection Agency (EPA) announced the Closing America’s Wastewater Access Gap Community Initiative.

Treasury

Treasury Releases Guidance Updates, How-to Guide to Increase Investments in Affordable Housing Using ARP Funds

The U.S. Department of the Treasury announced new guidance to increase the ability of state, local and tribal governments to use American Rescue Plan (ARP) funds to boost the supply of affordable housing in their communities.

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