News

The Housing Opportunity through Modernization Act enacted in 2016 amends several aspects of Multifamily Housing Programs and its implementation has brought material changes that impact property owners and tenants, including income calculation, net family assets and income reviews.

The 45L credit was initially introduced as a tax deduction under the Energy Policy Act of 2005. Initially, it allowed developers of energy-efficient residential properties, including multifamily buildings, to claim a deduction of up to $2,000 per unit for eligible construction or rehabilitation projects meeting specific energy-efficiency criteria. 

At the end of last year, the Federal Housing Finance Agency increased the 2024 annual LIHTC investment cap for Fannie Mae and Freddie Mac from $850M to $1B.

HUD’s HOME Program limit on the per-unit subsidy amount that a Participating Jurisdiction is permitted to invest in multifamily housing projects has historically been set at the Section 221(d)(3) mortgage insurance program maximum per-unit amounts.

Members of Congress who addressed the Affordable Housing Tax Credit Coalition’s Spring Meeting on Capitol Hill this week indicated that they still see a possibility of passing parts of the Affordable Housing Tax Credit Improvement Act before Congress adjourns for the year.

Sugar Creek Capital provided developers an update on the state tax credit program.

Bank of America recently spotlighted its talent acquisition programs at the NH&RA Annual Spring Developers Forum.

The Massachusetts Executive Office of Housing and Livable Communities (EOHLC) will hold regional listening sessions to engage stakeholders and solicit feedback as the Healey-Driscoll Administration develops its first five-year strategic statewide housing plan.

The Senate has yet to take up the Tax Relief for American Families and Workers Act (H.R. 7024), which passed the House in January and contains two critical LIHTC provisions.

HUD’s Office of Fair Housing and Equal Opportunity issued guidance on the Application of the Fair Housing Act to the Screening of Applicants for Rental Housing.

Member Day hearing for the Transportation, Housing and Urban Development, and Related Agencies subcommittees has been scheduled for May 8 at 10 a.m. ET at 2358-A Rayburn House Office Building for Members can join here.

HUD’s Office of Recapitalization, Special Applications Center (SAC), Voucher Program and field operations will be available to answer questions about repositioning – particularly questions that other PHAs would benefit from having HUD staff address in a live recorded webinar from 1 to 3 p.m. ET on May 15.