News
Long-time HUD Official Selected to Lead Office of Asset Management and Portfolio Oversight
Nancie-Ann Bodell has been selected to permanently lead the Department of Housing and Urban Development Office of Asset Management and Portfolio Oversight (OAMPO). Nancie-Ann has spent more than 25 years in the Office of Multifamily Housing at HUD.
New HUD Resources Help PHAs Calculate Public Housing Subsidies for RAD Conversions
HUD released two new files to assist public housing authorities to calculate and access the public housing subsidy that will be available to properties converted under the Rental Assistance Demonstration (RAD) program.
It’s Time to Call Your Congressman
Key housing programs are in serious jeopardy. Your elected officials will soon be back in your district for August recess and there’s no better time to reach out and show them the importance of the programs that support the development of affordable housing.
Community Investment Corporation “On Bill” Energy Financing Fact Sheet
In cooperation with the utility companies (ComEd, NICOR, North Shore Gas, Peoples Gas), CIC-Energy Savers will soon offer loans for energy retrofits of multifamily (5 to 50 units) properties which can be repaid as an additional item on a utility bill. Download
Energy Savers Fact Sheet
ENERGY SAVERS helps lower operating costs of apartment buildings by reducing energy usage. FINANCING Energy Savers loans are secured with a second mortgage lien. The first mortgage lender must allow the Energy Savers subordinate loan to be secured with a subordinate mortgage. The property must be: 1. An apartment building with at least five (5) […]
Report Recommends Joint IRS-HUD Administration to Oversee LIHTC Program
A report from the Government Accountability Office suggests that a joint administration between the IRS and the Department of Housing and Urban Development (HUD) would benefit the Low-Income Housing Tax Credit Program.
Senate Tax Reform Working Group Report Estimates HTC, LIHTC, NMTC Expenditures
A report from the Senate Finance Committee Community Development & Infrastructure Bipartisan Tax Working Group estimated expenditures for the historic tax credit, low-income housing tax credit, and new markets tax credit for fiscal years 2014-2018. The report is meant to inform the committee’s discussions on tax reform. The report did not make any recommendations regarding the tax credit programs.
White House Amps Up Renewable Energy Goals for Federally-Subsidized Housing
The Obama Administration announced a new solar initiative to increase access to solar energy, including low- and moderate- income communities, and expand opportunities join the solar workforce. Among several key components, the initiative aims to install 300 megawatts of renewable energy in federally-subsidized housing.
Boston Capital Invests in Affordable Housing for Veterans in Boston, MA
Boston Capital is investing in the rehabilitation of Court Street Veterans Housing, a 97-unit apartment community serving formerly homeless and at-risk veterans in Boston, Massachusetts. Court Street Veterans Housing will be rehabilitated in part with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program.
IRS Issues Update on Qualifying Date for Energy Properties
The Treasury Department and the Internal Revenue Service released performance and quality standards that small wind energy property must meet to qualify for the renewable energy investment tax credit (ITC) or production tax credit (PTC).
House Passes Legislation to Support Upgrades to Water, Energy Systems in HUD-Assisted Properties
The U.S. House of Representatives passed a bill that would help leverage private investment to fund upgrades to water and energy systems in aging HUD-assisted housing. The bill will go next to the Senate for consideration.
HUD Seeks Mission-Based and Private Lenders for Small Building Risk-Sharing Initiative
The U.S. Department of Housing and Urban Development announced a Small Building Risk Sharing Initiative, which aims to facilitate the financing of small multifamily properties. HUD is looking for both “Mission Based Lenders,” including Community Development Finance Institutions (CDFIs), other nonprofit lenders, public and quasipublic agenices, and “Private Lenders” that are approved as FHA MAP Lenders to participate in the program as Qualified Sharing Program Entities (QPEs).