News
IRS Allocates Additional $8.2 Million in Unused LIHTCs to 28 States
The Internal Revenue Service (IRS) allocated an additional $8.2 million in unused LIHTC carryovers to 28 states, ranging from $1.1 million to Texas to $24,409 to Vermont.
Nominations for Edson Awards Due May 3
The Affordable Housing Tax Credit Coalition (AHTCC) is now accepting nominations for its annual Charles L. Edson Tax Credit Excellence Awards, which recognize outstanding affordable housing developments and organizations that have demonstrated especially impactful use of the LIHTC.
HUD Publishes FY 2024 AAFs
HUD published the Annual Adjustment Factors (AAFs) for Fiscal Year (FY) 2024. AAFs are used to adjust rents for housing assistance payments (HAP) contracts.
HUD Highlights Congressional Changes to RAD Statute, Implementation Guidance Forthcoming
HUD’s Office of Housing detailed the recent changes to the Rental Assistance Demonstration (RAD) statute included in the FY 2024 Appropriations bill.
USDA Formalizes 30-Day Written Eviction Notices
A new Rural Housing Service rule requires owners of Section 515 and 514/516 rental properties to give tenants written notification at least 30 days before terminating a lease or taking eviction actions.
DC Opens Emergency Rental Assistance Program Portal
The DC Department of Human Services (DHS) reopened its Emergency Rental Assistance Program (ERAP) application portal on April 1.
Flexibility Increased for Rural Multifamily Owners to Use Surplus Cash
A new regulation allows owners of properties with financing from USDA’s Section 515 and 514/516 rental programs to apply cash to approved soft debt.
Court Grants Injunction of CRA Final Rule – Delays Implementation
Judge Matthew Kacsmaryk of the U.S. District Court for the Northern District of Texas granted the injunction to extend the Community Reinvestment Act (CRA) final rule’s effective date—April 1—along with all other implementation dates.
HUD Publishes 2024 Income Limits, Implements Ten Percent Cap
HUD published the 2024 Income Limits, which determine eligibility for assisted housing programs, including the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly and Section 811 housing for persons with disabilities programs, as well as Multifamily Tax Subsidy Project (MTSP) income limits that determine eligibility for LIHTC and tax-exempt private activity bond (PAB)-financed properties.
2024 Presidential Economic Report Includes Plan to Boost Housing Supply
The Council of Economic Advisers released the 2024 Economic Report of the President, which includes a chapter on Increasing the Supply of Affordable Housing.
Grand Opening at The Doris on Main in Wheeling
Woda Cooper Companies, Inc. hosted a grand opening and ribbon-cutting for community leaders and supporters March 15, 2024, at The Doris on Main, a new market-rate 46-unit housing community with luxury amenities located at 930 West Main.
HUD to Host Innovative Housing Showcase: June 7-9
HUD announced it will once again host the