News
LIHTC and JV Equity Funds Bolster Affordable Housing
Enterprise has successfully secured over $500 million through the closing of two new affordable housing funds.
NeighborWorks America Funding the Costs to Closing
NeighborWorks America provides predevelopment loan funds to help developers cover early-stage costs associated with affordable housing projects.
The Treasury’s Capital Magnet Fund
The Capital Magnet Fund (CMF), administered by the U.S. Department of the Treasury, aims to support affordable housing development and community revitalization efforts.
CDFI Fund Provides Update for FY 2024-2025 NMTC Allocation Round
CDFI announced the next round of the New Markets Tax Credit Program (NMTC Program) will make $10 billion in Allocation Authority available, and the round will span calendar years (CYs) 2024 and 2025.
Funding Predevelopment Costs
Predevelopment funding for affordable projects plays a crucial role in realizing the vision for the projects covering the upfront costs incurred before a project can formally begin.
Section 538 Loan Program
USDA Section 538 loans are part of the U.S. Department of Agriculture’s Rural Development program aimed at supporting the construction, renovation and preservation of affordable rental housing in rural areas.
HUD’s Recent Housing Investments
The recent announcement of over $279 million in new investments through HUD’s Green and Resilient Retrofit Program (GRRP) represents a significant boost for affordable housing developers, particularly those focused on multifamily rental units.
Department of Housing and Community Development Updates Q&A on 2024 Consolidated RFP for Affordable Housing Projects
The Department of Housing and Community Development (DHCD) has compiled a list of questions submitted regarding the 2024 Consolidated Request for Proposals (RFP) for Affordable Housing Projects.
California Awards $130.7 Million to Help 18 Communities House People Living in Encampments
Governor Gavin Newsom today announced nearly $130.7 million in Encampment Resolution Funding (ERF) program grants to help 18 cities, counties, and Continuums of Care (CoCs) resolve critical encampment concerns, address the housing and health and safety needs of 3,364 people living in encampments, and permanently house 1,565 people.
California Enacts Law to Limit Rent Increases on all LIHTC Properties
California Gov. Gavin Newsom recently signed into law a bill that expands the existing California Tax Credit Allocation Committee (CTCAC) limit on rent increases for tenants in properties financed by low-income housing tax credits (LIHTCs) or private activity bonds (PABs).
Federal Funding for Affordable Development
The Multifamily Preservation and Revitalization (MPR) Program and Section 515 Subsequent Loans for Preservation for FY 2024 offer significant financial resources to help affordable multifamily rental developers maintain and improve their properties in rural areas.
HUD Funding Navigator
HUD has launched new guidelines and resources to bolster the nation’s affordable housing stock against climate-related challenges through rapid retrofitting and weatherization efforts.