News

The deadline for submissions for the 2018 Charles L. Edson Tax Credit Excellence Awards program is being extended to Wednesday, March 28, 2018 by 11:59 p.m. EST.

The awardees include 25 certified Community Development Financial Institutions and 15 non-profit housing organizations. They will collectively serve 40 states and the District of Columbia.

Opportunity Zones will provide a resource similar to the gap funding from the HOME program but “on steroids”, explains Carson.

Congressional leadership is anticipating a release of the omnibus language later today with potential for a House vote on Thursday.

The National Low Income Housing Coalition released today its report The Gap: A Shortage of Affordable Homes, which finds a shortage of 7.2 million affordable and available rental homes for extremely low income (ELI) renter households, those with incomes at or below the poverty level or 30% of their area median income.

The MAP Guide enumerates securities for an equity bridge loan as a pledge of tax credits and/or limited partners’ or investors members’ interests in the project’s ownership entity. Questions subsequently arose as to whether a pledge of the general partner’s interest could also secure an equity bridge loan.

The National Park Service report includes a summary of state-by-state activity in 2017 as well as a breakdown of project sizes.  

Williams currently serves at the Urban Land Institute as Executive Vice President of Content and Executive Director of the Terwilliger Center for Housing. His appointment is effective April 2.

HUD recently rolled out System Release 2.2 and a revised assessment tool. These changes were based on user feedback and include missing flag notes.

The adjustment leaves per-capita amounts unchanged for LIHTCs and PABs. However, the LIHTC small state minimum was reduced by $5,000 while the small state minimum for PABs was reduced by $665,000.

NH&RA urges members and other interested parties to support legislation to make the New Markets Tax Credit permanent as well as increase annual allocation authority. The NMTC Coalition has provided information and resources for how you can help.

Six communities across the country have been awarded a total of almost $5 million from HUD’s Choice Neighborhoods Initiative. The grants allow local leaders flexibility in executing their own comprehensive plans for community revitalization. Developer partners involved with the awards include NH&RA Members Telesis (Cleveland) and Pennrose (Philadelphia).