News
Budget Preview: CDBG Program to Be Cut
President Obama is slated to release his FY-2012 Budget on February 14; however, news of budget priorities is beginning to be released. Last week the White House announced that the budget would fully fund the New Markets Tax Credit program at $5 billion.
Bill Introduced to Extend GO Zone Credit
On January 25, Senator Mary Landrieu (D-La.) introduced a bill (S. 30) to extend by one year the placed-in-service date for low-income housing tax credit rules applicable to Gulf Opportunity (GO) Zone properties.
Arizona Releases Utility Allowance Guidelines
The Arizona Department of Housing recently released its final utility allowance guidelines for low-income housing tax credit (LIHTC) properties.
Governor Cuomo Proposes Housing Budget Cuts
New York Gov. Andrew Cuomo recently revealed his 2011-2012 Executive Budget proposal that includes approximately $308 million for the Division of Housing and Community Renewal, a figure that represents a nearly $157 million reduction from last year’s budget.
HUD Solicits Feedback on Efficiency Conversion Standards
The U.S. Department of Housing and Urban Development has developed standards and requirements to permit the conversion of efficiencies to one-bedrooms in HUD assisted and/or insured housing.
New Report Shows Persistence of High Rent Burdens
The U.S. Department of Housing and Urban Development’s Office of Policy Development & Research has published a new report based on American Housing Survey data entitled, “Investigating Very High Rent Burdens Among Renters in the American Housing Survey.”
DC to Hold Public Hearing on NSP3 Funds
Washington DC’s Department of Housing and Community Development (DHCD) will hold a Public Hearing on Tuesday, February 15, 2011, to discuss the District’s proposed uses of Federal Neighborhood Stabilization Program Round Three (NSP3) Funds.
Ohio Schedules 2012 QAP Discussion Meeting
The Ohio Housing Finance Agency has announced that it will host a roundtable discussion with a selection of housing partners that will explore goals and priorities for the agency’s 2012 low-income housing tax credit program.
House Financial Services Subcommittee to Hold GSE Reform Hearing
The House Financial Services Committee Subcommittee on Capital Markets Chairman Scott Garrett announced today the Subcommittee will convene a hearing on reforming Fannie Mae and Freddie Mac.
House Financial Services Subcommittee to Hold GSE Reform Hearing
The House Financial Services Committee Subcommittee on Capital Markets Chairman Scott Garrett announced today the Subcommittee will convene a hearing on reforming Fannie Mae and Freddie Mac. The hearing will be held on Wednesday, February 9th at 2:00 p.m.
Brookings Issues White Paper on Energy Retrofits of Affordable Housing
The Brookings Institute has released a new white paper that offers a “magic pill” for the federal government by suggesting the possibility of over $1 billion in annual savings, improved building longevity, health, and affordability, as well as thousands of new jobs through retrofitting the federally subsidized multifamily portfolio in order to increase energy and water efficiencies and reduce operating costs.
Fannie Mae Introduce New Multifamily Product
Fannie Mae has announced the introduction of a new Guaranteed Multifamily Structures, or Fannie Mae GeMSTM, an expanded multifamily mortgage-backed securities (MBS) execution that will include DUS Megas, DUS REMICs and syndicated DUS Megas.