News
Novogradac Releases Two Additional OZ Mapping Tools
Novogradac & Company has released two online mapping tools that track tax codes of individual states and how they conform to federal tax law concerning the opportunity zones incentive. One tool tracks state law concerning personal income and the other tracks state law concerning corporate income. Both resources also link to relevant state tax code […]
NCSHA Releases Anticipated Research on Development Costs
On September 7, the National Council of State Housing Agencies (NCSHA) has released a much anticipated the report by Abt Associates entitled “Variation in Development Costs for LIHTC Projects.”
HUD OIG Audit Finds REAC Could Improve Inspections Processes & Controls
The Office of Inspector General (OIG) for the US Department of Housing and Urban Development issued an Audit Report on August 31, 2018 entitled “REAC Could Improve Its Inspections Processes and Controls.” The objective of the auduit was to determine whether REAC had adequate processes for and controls over the certification and monitoring of contracted […]
HUD Announces New Oregon Field Office Director
HUD has announced that Tony Ramirez, a 20-year HUD veteran who has served the past 14 years as director of HUD’s Reno, Nevada field office, will serve as the new Oregon Field Office Director.
House Financial Services Committee Schedules Hearing on GSE Reform
On Thursday, September 6, 2018, at 10:00 a.m. in Room 2128 of the Rayburn House Office Building, the Committee on Financial Services will hold a hearing entitled “A Failure to Act: How a Decade without GSE Reform Has Once Again Put Taxpayers at Risk.” This fall marks ten years since the height of the financial […]
House Committee Reviews Effect of Regulation on Affordable Multifamily Housing
On September 6, the housing and Insurance Subcommittee of the House Financial Services Committee held a hearing to examine how the costs of regulation are forming a barrier that prevents more affordable housing development. “The lack of development is especially concerning,” said subcommittee chair Sean Duffy (R-WI), “because while we continue to enjoy some of […]
CDFI Fund Retires CIIS—Compliance Reporting is Live in AMIS
Earlier this summer, the CDFI Fund announced that it was integrating award recipient reporting into the Award Management Information System (AMIS). I am very happy to report that the transition is now complete and the Community Investment Impact System (CIIS), is officially retired. Going forward, award recipients will now submit reports—including Institutional Level Reports (ILRs), […]
California Legislature Passes Affordable Student Housing Legislation
On August 28, the California Legislature has passed a measure (SB 1227) that would require cities and counties to grant a 35 percent density bonus when an applicant for a housing development of five or more units seeks and agrees to construct a project that will contain at least 20 percent of the total units for […]
HUD Updates Fair Market Rents for FY-2019
HUD has issued a notice updating the FY 2019 FMRs. It also enumerates the procedures for Public Housing Agencies (PHAs) and other interested parties to request reevaluations of their FMRs, as required by HOTMA. To help inform PHAs’ decisions concerning reevaluation requests, this notice briefly addresses HUD’s May 30, 2018 notice regarding the use of […]
CBPP Report Finds Few LIHTC Units in Low Poverty Neighborhoods
On August 28 the Center for Budget and Policy Priorities released a new report entitled, “Low-Income Housing Tax Credit Could Do More to Expand Opportunity for Poor Families.” The report finds that, “despite some recent improvements, LIHTC falls short of meeting its potential to help poor families move to low-poverty neighborhoods with strong schools and low […]
Cityscape Examines the Housing-Health Connection
The latest issue of HUD’s Cityscape: A Journal of Policy Development and Research, guest edited by Veronica Helms Garrison and Craig Evan Pollack, is titled “The Housing-Health Connection” and features a symposium on the complex interplay between housing and health outcomes.
CEDAC Report: Burdened Renters in “Central Cities” at Whopping 75%
In all of the 50 largest cities across the country (or the “central cities”), 75 percent of the Extremely Low Income (ELI) population is rent “burdened” and paying more than 30 percent of their income for housing, according to a new report issued by Bill Brauner, Director of Housing & Preservation at the Community Economic Development Assistance Corporation (CEDAC) in Boston.