News
HUD Announces the Release of State-by-State RAD Fact Sheets
In an ongoing effort to make information available on the impacts of RAD in communities around the country, HUD has published new state-by-state RAD fact sheets that provide summary information on the RAD activity in each state. The data is “live” and updates real-time as properties complete the conversion process.
Over 280 NMTC Projects Amounted to $6.1 Billion Investment in Low-Income Communities
The New Markets Tax Credit Coalition released the 2019 version of its annual New Markets Tax Credit (NMTC) Progress Report. It shows that in 2018, community development entities used $3.2 billion in NMTC allocation to finance 286 projects in 48 states, Puerto Rico and the District of Columbia. This financing resulted in the creation of 58,360 total jobs, including 32,917 permanent full-time-equivalent jobs and 25,443 construction jobs.
HUD’s OAMPO Issues Memo on Working with Owners and Residents at HUD Multifamily Properties
HUD’s Office of Asset Management and Portfolio Oversight (OAMPO) recently issued a memo clarifying owners’ responsibilities to notify residents in advance of physical inspections, to make final inspection documents available for review and comment and suggested collaborative implementation of new house rules.
USDA Acting Assistant to the Secretary for RD Resigns
Joel Baxley, Acting Assistant to the Secretary for Rural Development (RD) at the U.S. Department of Agriculture (USDA), announced that he will leave his position effective August 2, 2019. Prior to assuming the job as Acting Assistant to the Secretary, Joel was the Administrator for the Rural Housing Service. While the Administration works to identify […]
IRS Publishes Final Regulations on Section 50(d) Income
The Internal Revenue Service published the final regulations regarding Income Inclusion When Lessee Treated as Having Acquired Investment Credit Property under section 50(d)(5) of the Internal Revenue Code. The final rule clarifies that Section 50(d) income is a partner item rather than a partnership item, that Section 50(d) income goes to the partner in the […]
Enterprise & NeighborWorks Publish New Report on Health Outcomes
Enterprise Community Partners and NeighborWorks America has published a new report titled, “On the Path to Health Equity: Building Capacity to Measure Health Outcomes in Community Development.” The report highlights the findings of an innovative national demonstration project designed to build the capacity of 20 community-based organizations to measure the health outcomes of their work. […]
RetrofitNY Publishes Report on Deep Energy Retrofits
The RetrofitNY team is proud to share a study conducted by Ian Shapiro of Taitem Engineering assessing the transferability of the Energiesprong concept to New York State – Energiesprong: A Dutch Approach to Deep Energy Retrofits and Its Applicability to the New York Market. Based on numerous site visits and interviews in the Netherland, Ian’s […]
AHTCC to Host Webinar on Advocating for the Affordable Housing Credit Improvement Act
The Affordable Housing Tax Credit Coalition will host a webinar at 3:00 p.m. EDT on Friday, July 12, 2019 on advocating for the Affordable Housing Credit Improvement Act, legislation to expand and improve the Low-Income Housing Tax Credit (Housing Credit). This bill has the potential to increase affordable housing production and preservation by more than […]
Urban Institute Highlights Zoning Strategies to Improve Housing Affordability
A recent post on the Urban Institute website by Solomon Greene and Jorge Gonzalez highlights how local governments are “increasingly recognizing that restrictive zoning and outdated land-use regulations can suppress housing supply, drive up housing costs, and widen racial and economic disparities. Leveraging smart zoning reforms and easing building restrictions can unleash housing supply to help meet the […]
LISC Boston to Host Opportunity Zone Showcase; Toolkit Release
On July 31 LISC Boston will host its Opportunity Zone Showcase & Toolkit Release in Massachusetts. As of 7/9, LISC Boston had not announced the event location, which will run from 9 a.m. – 1:00 p.m. The event will: Showcase Massachusetts Opportunity Zone communities, strategies, and opportunities. Connect stakeholders to drive inclusive investment. Who should […]
New York Times Op-Ed Profiles Democratic Presidential Candidates Housing Affordability Plans
On Sunday July 7, the New York Times Editorial Board published an Op-Ed titled, “A New Approach on Housing Affordability: Some Democratic presidential candidates are emphasizing the need to build more housing. That could make a big difference.” The Op-Ed highlights plans from four Democratic candidates including Sen. Cory Booker (D-NJ), Former HUD Secretary Julian […]
ABA Submits Comments On Opportunity Zone Regulations
The American Bar Association Forum on Affordable Housing and Community Development Law has submitted a comment letter on the most recent Qualified Opportunity Zone Regulations. The letter requests clarification of the regulations in order to improve the Qualified Opportunity Zone tax incentive so that it can better interact with affordable housing and community development.