News
CDFI Fund Releases Summary Report and Data on NMTC Investments
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a summary report and data collected on all New Markets Tax Credit (NMTC) investments across the nation through the fiscal year (FY) 2021 reporting period.
FHFA Director Sandra Thompson’s Statement on Best Practices for Adverse Action Notices for Renters
A written notice paired with a report copy allows the borrower to demonstrate they have fulfilled their legal obligations under the Fair Credit Reporting Act (FCRA), and also permits rental applicants to understand the basis for any denial, fully assert their rights with tenant screening companies, and more effectively correct their records.
NH&RA Submits Comments on NCSHA’s Proposed Revisions to Recommended Practices in Housing Credit Administration
NH&RA submitted comments to the National Council of State Housing Agencies’ (NCSHA) draft proposed revisions to its Recommended Practices in Housing Credit Administration (summary, red-line).
EPA Proposes Lead-Based Paint Rule for Federally Assisted Housing
The Environmental Protection Agency (EPA) published a proposed rule to significantly lower acceptable levels of lead-based paint (LBP) and make abatement protocols much more stringent for federally assisted properties built before 1978 that undergo renovation.
IRS Publishing Final Regulations, Application Process for ‘Adder’ ITCs for Solar, Wind at Low-Income Communities, Federally Subsidized Residential Buildings
The Internal Revenue Service (IRS) published final regulations for the “adder” investment tax credit (ITC) percentages for solar or wind facilities built in low-income communities or in connection with federally subsidized residential buildings.
California Releases Amendment to Transition Reserve Policy and Funding Availability Calendar
The California Department of Housing and Community Development (HCD) released an amendment to its Transition Reserve Policy Administrative Memo, which implements statutory changes made under SB 948 (Chapter 667, Statutes 2022) applicable to Health and Safety Code Section 60468.
New Hampshire Announces Listening Session for Tax Exempt Bond and NOFO
New Hampshire Housing (NHH) will host a virtual listening session on August 17 at 1:30 p.m. ET to solicit feedback on the NHH Tax-Exempt Bond and four percent LIHTC Notice of Funding Opportunity (NOFO).
NH&RA Submits Comments to FHFA’s Request for Input on Multifamily Tenant Protections
Last week, NH&RA submitted comments to the Federal Housing Finance Agency’s (FHFA) Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac (the Enterprises).
HUD Launches $85 Million PRO Housing Funding Opportunity
HUD opened the $85 million first-of-its-kind competitive Pathways to Removing Obstacles to Housing (PRO Housing) funding opportunity for jurisdictions.
HUD Publishes Updated Public and Assisted Housing Guidance for Treatment of Solar Programs for Residents to Benefit
HUD published updated guidance for Public Housing Authorities (PHAs) and owners of properties participating in HUD Multifamily Assisted Housing programs regarding the treatment of financial benefits received from participation in community solar energy programs or the presence of on-site solar facilities.
Rural Development Publishes Procedural Notice 589
Rural Development (RD) published Procedural Notice (PN) 589 announcing management fees for Fiscal Year (FY) 2024.
HUD Posts CDBG-DR and MIT Monthly Performance Reports
HUD announced that it posted the latest versions of the Community Development Block Grant Disaster Recovery (CDBG-DR) and CDBG-Mitigation (CDBG-MIT) Monthly Performance Reports.