News
Tax Bill Delayed; Release Scheduled for Nov. 2
As of Wednesday afternoon, it appears Senate Republicans have secured enough votes for their budget resolution.
New Community Investment Explorer Tool Explores Impact of LIHTC & NMTC
The Federal Reserve Bank of St. Louis recently launched a new interactive tool, Community Investment Explorer (CIE). CIE aggregates customizable data from the CDFI Program, New Markets Tax Credit Program (NMTC Program) and Low-Income Housing Tax Credit (LIHTC) Program to show geographic comparisons and trends over time. CIE draws on publicly available data from over […]
Lincoln Institute of Land Policy Publishes New Report on Inclusionary Zoning Programs
The Lincoln Institute of Land Policy unveiled the largest study to date of inclusionary housing – the policy where developers reserve a portion of new development as affordable. The study, authored by Emily Thaden and Rouniu (Vince) Wang surveys inclusionary zoning policies in 886 jurisdictions in 25 states. The paper documents nearly 200,000 affordable housing […]
Rural Housing Services Aligns Financial Reporting Requirements With HUD
The Rural Housing Service (RHS) is revising its existing regulations regarding financial reporting to establish risk thresholds, align requirements with HUD and reduce program operating costs to RD and its borrowers. This rule is effective November 24, 2017 and is optional in FY-2018 and will be mandatory in FY-2019. Additional highlights of the rule include: […]
New York City Mayor Expands Housing Plan
New York City Mayor Bill de Blasio has announced a major expansion to the City’s affordable housing plan. The administration is on track to build and protect 200,000 affordable homes by 2022, two years ahead of schedule. With the addition of new tools, programs and funding, the City will ramp up to securing 25,000 affordable […]
HUD Extends Effective Date for Certain DDAs and QCTs
HUD has revised the effective date for designations of “Difficult Development Areas” (DDAs) and “Qualified Census Tracts” (QCTs) for purposes of the Low-Income Housing Tax Credit (LIHTC) approved for Federal disaster-related individual assistance. This Notice extends from 730 days to 850 days the period for which the 2015 lists of QCTs and DDAs are effective […]
Fair Housing Groups File Suit Challenging HUD Suspension of Small Area FMRs
Several civil rights organizations have filed a lawsuit in federal court challenging HUD’s decision to suspend the implementation of the Small Area Fair Market Rent rule, which was adopted in November 2016 and suspended earlier this year. It is unclear at this juncture how the case will proceed. Five organizations – the NAACP Legal Defense […]
LIHTC Champion Rep. Tiberi Announces Departure from Congress
Representative Pat Tiberi (R-OH-12), the lead Republican sponsor on the House version of the Affordable Housing Credit Improvement Act (H.R. 1661) and a longtime champion of the Housing Credit, announced last week that he will leave Congress no later than January 31, 2018, nearly a year before his term ends. NH&RA thanks Rep. Tiberi for […]
NPS Publishes 2016 Historic Tax Credit Economic Impact Report
The National Park Services has published its “Annual Report on the Economic Impact of the Federal Historic Tax Credit for Fiscal Year 2016.” The report, which is produced by Rutgers University with assistance from the National Trust Community Investment Corporation—provides a quantitative analysis of the success of the federal historic tax credit (HTC). Key findings […]
HUD Offers Extension for RAD Projects in Disaster Areas
HUD has issued a notice that permits Public Housing Authorities (PHAs) that are in Presidentially declared disaster areas to request an extension to the due date for making submissions if they meet either of the following qualifications: a) have submitted Letters of Interest (LOI) to reserve their position on the Rental Assistance Demonstration (RAD) waiting […]
House Financial Services Subcommittee Schedules Housing Finance Reform Hearing
The House Financial Services Subcommittee on Housing & Insurance will host a hearing entitled “Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform” on Wednesday, October 25, 2017. The witness List includes: Mr. Kevin Chavers, Managing Director, BlackRock, on behalf of the Securities Industry and Financial Markets Association (SIFMA) Ms. Brenda K. Hughes, Senior Vice […]
Sen. Patty Murray Introduces Bill Coordinating Education and Housing
The bill would incentivize coordination amongst housing authorities, school districts, and community organizations to improve educational and housing outcomes for children.