The Campaign for Housing and Community Development Funding (CHCDF) is circulating a sign-on letter calling on Congress and President Trump to end the government shutdown and ensure affordable housing and community development programs receive robust funding. NH&RA signed the letter and urges our members to do so as well.
News
CalHFA MIP NOFA opens Feb. 5
The California Housing Finance Agency (CalHFA) Mixed-Income Program (MIP) is funded by the Building Homes and Jobs Act signed into law in 2017. Beginning in 2019, and continuing on an annual basis, CalHFA will receive 15 percent of the Building Homes and Jobs Act Fund, expected to be $30 – $45 million, to provide residential mixed-income housing with unit restrictions between 30 percent and 120 percent of the area median income. $40 million in funds available and applications are due between Feb. 5 and April 30. The MIP term sheet is available here.
California AHSC Program Round 4 NOFA Applications due Feb. 11
Applications for the Affordable Housing and Sustainable Communities (AHSC) Notice of Funding Availability (NOFA) are due on Feb. 11. The AHSC program seeks to reduce greenhouse gas emissions through projects that implement land-use, housing, transportation, and agricultural land preservation practices to support infill and compact development. For the fourth round, $395 million in funding is available.
Read MoreNHHFA & CDFA Event: Opportunities to Use CDFA Funds for Energy Projects Event – Jan. 31
On Jan. 31 from 9 – 11:30 am ET the New Hampshire Housing Finance Authority (NHHFA) and the Community Development Finance Authority (CDFA) will host a discussion on financial and technical resources available for energy audits and energy upgrades at multi-family housing properties.
Read MoreEconomic and Fixed Income Insights, Jan. 22, 2019
U.S. home sales tumbled to their lowest level in three years in December and house price increases slowed sharply, suggesting a further loss of momentum in the housing market.
Read MoreGovernor Cuomo Releases FY 2020 Executive Budget
Governor Andrew Cuomo (D-NY) recently gave his State of the State address and released his FY2020 Executive Budget, outlining his priorities for the current legislative session.
Read MoreMove America Act Would Expand PAB Authority, Create Infrastructure Tax Credit
Senators John Hoeven (R-ND) and Ron Wyden (D-OR) reintroduced the Move America Act. The bill would expand tax-exempt private activity bonds (PAB) and create a new infrastructure tax credit (Move America Equity Credits), to help fund infrastructure projects through private-public partnerships. According the Joint Committee on Taxation, the bill would leverage $8 billion in federal investment into $226 billion worth of bond authority over the next 10 years or up to $56 billion over 10 years in tax credits.
Read MoreMembers of Congress Send Letter to President Regarding the Shutdowns Impact on Federal Housing Assistance
34 U.S. Senators and 138 U.S. Representatives signed onto a Jan. 17 letter to President Trump, raising concerns about the impact of the shutdown on the people who rely on federal housing assistance. The letter urges the President to “end this shutdown and provide immediate relief to Americans being impacted by this funding crisis.”
GAO Releases Report on Housing Finance Reform
The Government Accountability Office (GAO) issued a new report Housing Finance: Prolonged Conservatorships of Fannie Mae and Freddie Mac Prompt Need for Reform. The report, prepared for Chairwoman of the House Committee on Financial Services Maxine Waters (D-CA) and Congressman Sean Duffy (R-WI), calls on Congress to “consider legislation for the future federal role in housing finance that addresses the structure of the enterprises, establishes clear, specific, and prioritized goals and considers all relevant federal entities, such as FHA and Ginnie Mae.”
Read MoreMicrosoft Commits $500 Million Towards Affordable Housing in Seattle Area
In a Microsoft Corporate Blog, president Brad Smith and CFO Amy Hood committed $500 million in loans and grants to accelerate the construction of more affordable housing across the Seattle region across the next three years.
Read More