News
FY 2016 Omnibus Bill Boosts Funding for Several Key Housing Programs
FY 2016 funding includes level and higher funding from FY 2015 levels for many key HUD housing programs. In most cases, the funding levels stop short of fully funding the programs’ needs, but are better than expected. Congress approved the omnibus funding measure on Friday, December 18.
HUD Finalizes FY 2016 Fair Market Rents
HUD finalized Fair Market Rents (FMRs) for fiscal year 2016. FMRs are used to set payment standards and rents for several HUD-assisted housing programs.
New Law Helps Finance Energy, Water Retrofits for HUD-Assisted Housing
Several provisions related to federally-assisted housing, including a pay for success pilot to raise outside capital for energy and water retrofits, were signed into law with the FAST Act.
CDFI Fund Updates NMTC Certification, Compliance, Monitoring FAQs
The revised answers to NMTC frequently asked questions add, revise, and update earlier versions from December 2014 and October 2015.
Massachusetts Issues Planning Grant NOFA for State Public Housing
Up to $1 million in planning and pre-development funds is available to housing authorities interested in redeveloping their state-aided public housing as a mixed income development in partnership with a developer.
HUD Establishes Basic Statutory Mortgage Limits for Multifamily Housing Programs
The Department of Housing and Urban Development adjusted Basic Statutory Mortgage Limits for the Multifamily Housing Section 207, 213, 220, 221(d)(4), 231, 234 programs. They have an effective date of January 1, 2015.
HUD Provides Answers to Section 8 Renewal Policy Guide FAQs
The Department of Housing and Urban Development released responses to frequently asked questions regarding the Section 8 Renewal Policy Guide.
Report: Affordable Housing Offers Opportunities to All Types of Investors
A recent report profiles successful efforts to preserve affordable housing using below-market debt funds, private equity vehicles, and real estate investment trusts (REITs).
HUD Multifamily DAS Ben Metcalf Appointed to Lead California DHCD
California Governor Edmund Brown, Jr. appointed Ben Metcalf, former Deputy Assistant Secretary in the Department of Housing and Urban Development Office of Multifamily Housing Programs, to direct the California Department of Housing and Community Development.
New HUD Grant Funds Available to Rehab Distressed Public Housing
HUD announced Choice Neighborhoods Planning and Action Grants, designed to spur the redevelopment of severely distressed public and HUD-assisted housing and transform surrounding neighborhoods. PHAs that are considering applying for RAD for demolition and new construction, or major rehabilitation or reconstruction, are encouraged to apply for a Choice Neighborhoods Planning and Action Grant.
WinnDevelopment Spins a New Story for 110-Year-Old Yarn Mill
Massachusetts Governor Charlie Baker joined WinnDevelopment and its partners to celebrate the groundbreaking of a new project to transform the Nockege Mill in downtown Fitchburg, MA, into 96 units of mixed-income housing.
Massachusetts LIHTC, Section 8 Property Rebuilt with Modular Homes
An aging 200-unit property, owned by an affiliate of The Community Builders, will be demolished and replaced by modular, prefabricated homes. MassHousing provided $53 million in financing for the transaction, which includes Low-Income Housing Tax Credits and a renewed 20-year Section 8 HAP contract.