News

President Biden Commits to Including Housing in Reconciliation Bill

In a press releaseHouse Financial Services Committee Chairwoman Maxine Waters (D-CA) announced she secured a commitment from President Joe Biden (D) to include housing in the partisan, reconciliation bill. In a speech on July 7 in Illinoisthe president said the following on the reconciliation package, “We need to deal with the shortage of affordable housing in America. Over 10 million renters in this country pay more than half their income for the rent on their apartment, and the lack of affordable housing prevents people from moving to communities where there are more opportunities. So, we’re going to make historic investment in affordable housing, increasing and improving the housing supply by building and rehabilitating more than 2 million homes, especially in places that need more housing.”

HUD Notice Extends Effective Period for 2019, 2020 QCTs, DDAs Not on Subsequent Lists

HUD published a notice in the Federal Register extending the period by 180 days for which certain 2019 and 2020 qualified census tracts (QCTs) and difficult development areas (DDAs) are effective for purposes of the LIHTC. The notice, in response to the COVID-19 pandemic and presidentially declared emergency, extends the eligibility period from 730 days to 910 days for properties in QCTs and DDAs that are not on subsequent lists of QCTs and DDAs and that submitted applications while the area was a 2019 or 2020 QCT or DDA.

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Forty Percent of Public Housing at High-Risk from Natural Hazards

A new report from the National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation examines the locations of project-based federally assisted properties in relation to risks for 18 types of natural hazards ranging from flooding and hurricanes to earthquakes and wildfires. One-third of federally assisted homes are in areas at very high or relatively high risk for negative impacts from natural hazards compared to one-quarter of all renter-occupied homes and just 14 percent of owner-occupied homes. 

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