News

The California Housing Partnership and National Housing Law Project have jointly published a guide to assist owners of affordable housing in understanding the implications of recent changes to federal program utility allowance requirements, and to provide tips for assessing whether utility allowance adjustments can be used as a resource to finance or pay back the […]

All Section 236 loans will mature in the next 3 years and HUD is encouraging all owners and managers of Section 236 projects to take action in 2016 to preserve their properties as affordable housing. A new step-by-step guide to preservation explains key financial issues and guidance.

HUD expects to make individual allocations to States later this spring and anticipates these funds can be drawn upon as early as this summer. The Fund is capitalized through contributions by government sponsored enterprises Fannie Mae and Freddie Mac.

Having a criminal record is not a protected characteristic under the Fair Housing Act, but race is. African Americans and Hispanics are arrested, convicted and incarcerated at rates disproportionate to their share of the general population. Many face significant barriers to securing housing because of their criminal history.

The LIHTC portfolio grew by 481 properties, encompassing 125,876 units, from 2012 to 2013, according to recent data from HUD. The report was a follow-up to last year’s release of Understanding Whom the LIHTC Program Serves: Tenants in LIHTC Units.

Annual population estimates determine the amount of Low-Income Housing Tax Credit and tax-exempt private activity bond authority is available for a given year.

The U.S. Department of Housing and Urban Development released FY-2016 income limits to be used when setting maximum rental rates for housing financed using Low-Income Housing Tax Credits or Tax-Exempt Bonds, as well as income limits to determine eligibility for HUD-assisted housing programs.

Last October, Representative Mike Kelly (R-PA) introduced legislation seeking the first major changes to the Historic Tax Credit since 1986. Senators Cardin and Collins introduced similar legislation to the Senate in early March.

Preparing for an unprecedented number of RAD transactions this year, HUD is already seeing requests for extensions to Financing Plan submission deadlines. HUD will host a listening session to discuss incentives or remedies short of revoking CHAPs to keep PHAs on schedule and to mitigate the surge of volume at year-end.

Over the next 60 days, HUD is soliciting comments on the Affirmatively Furthering Fair Housing Assessment Tool for States and Insular Areas. One of three AFFH Assessment Tools, this tool is to be used where the State is designated as the lead entity.

In addition to preserving housing for residents making a little at 30% of area median income, the project includes a unique workforce housing component for residents earning up to 95% of the area median income.

The survey asked respondents to indicate how likely they are to pursue new construction, substantial renovation, acquisition, refinancing, tax credit allocations, and more. In almost all cases, a majority of respondents said “yes.”