News

The ACTION Campaign is calling on Congress to address our nation’s severe shortage of affordable rental housing by raising the cap on Housing Credit allocation authority by at least 50 percent. Read the letter and sign on by Friday, March 11.

The deadlines for Congressmen to sign-in to the letters of support for HOME funds are this Friday, March 11 in the House and March 15 in the Senate.

The Internal Revenue Service updated the regulations that set the minimum number of low-income units in a Low-Income Housing Tax Credit project for which a housing finance agency must conduct physical inspections and low-income certification reviews.

The Fiscal Year 2015 Annual Report from the National Park Service, Federal Tax Incentives for Rehabilitating Historic Buildings, reveals a program that helped provide homes for low- and moderate- income residents, boosted local economies, and created jobs.

IRS published in today’s Federal Registrar two sets of regulations that will facilitate the ability of owners of LIHTC properties to use a consumption-based utility allowance at properties that are either submetered or generate and sell energy using on site renewables.

Section 9-23 of the new Section 8 Renewal Policy Guide provided instructions for comparing the median rents as derived by the appraiser in a RCS with Census Bureau estimates of the median rents in the project’s zip code. HUD has recently published the new median zip code rents and the 140 percent thresholds.

The President’s proposed FY-2017 budget shows support for several of the key tax credit, HUD, and rural development programs that spur the development of affordable housing by private developers.

CDFIs and qualified non-profits can use Capital Magnet Fund awards to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees.

The new MAP Guide delegates more underwriting responsibility to approved “MAP lenders” and includes all relevant guidance published by FHA since the MAP Guide was last updated in 2011.

Funds are available to CDFIs and qualified non-profit organizations. Capital Magnet Fund awardees are able to utilize funds to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Applications are due March 16.

HUD is proposing to reduce 2016 FHA Mortgage Insurance Premiums for affordable housing and green and energy efficient housing. HUD is accepting comments on the proposal through February 29. The changes would go into effect April 1.

The CDFI Fund received 238 applications for New Markets Tax Credit allocations from 43 states, the District of Columbia, Puerto Rico, and Guam. The CDEs requested more than 5 times the available authority of $3.5 billion.