News
Silicon Valley Bank Collapse Puts San Francisco’s Affordable Housing Projects in Limbo
An article in The San Francisco Standard details the risk to affordable housing projects in San Francisco following the collapse of Silicon Valley Bank.
Senate Finance Committee Holds Hearing on Increasing Affordable Housing; Chairman Wyden Introduces DASH Act
The Senate Finance Committee held a hearing on March 7, 2023 to discuss tax policy’s role in increasing the affordable housing supply for working families.
President Biden Releases FY 24 Budget Request
On March 9, the White House released its fiscal year (FY) 2024 budget proposal, which notably calls for $51 billion in additional LIHTCs, a new Neighborhood Homes Tax Credit, and mandatory funding for new project-based rental assistance contracts.
Senate Reintroduces HTC-GO
Senators Ben Cardin (D-MD), Bill Cassidy (R-LA), Maria Cantwell (D-WA) and Susan Collins (R-ME) reintroduced the Historic Tax Credit and Growth Opportunity Act (HTC-GO) of 2023 (S. 639).
CDFI 2023 Capital Magnet Fund Applications & ACR Conference Call
The Community Development Financial Institutions Fund (CDFI Fund) announced that the Fiscal Year 2023 Capital Magnet Fund applications are due on March 21 at 11:59 p.m. ET.
HUD Problem Solving Clinic (CDBG) and CDBG Reports
HUD’s Office of Disaster Recovery (ODR) announced that it is sponsoring the 2023 Community Development Block Grant Disaster Recovery and Mitigation (CDBG-DR and CDBG-MIT) Problem Solving Clinic.
Iowa Sends LIHTC Tips
The Iowa Finance Authority’s (IFA) Housing Tax Credit team announces the development of a series of helpful application tips to make the application process as seamless as possible for partners.
Senate Banking Committee Hearing on Housing – March 7
The Senate Committee on Banking, Housing and Urban Affairs will hold a hearing on March 7 at 10 a.m. ET on Increasing Affordable Housing Supply.
Jodie Harris to Step Down at CDFI Fund
At the end of April, Jodie Harris will step down as director of the Community Development Financial Institutions Fund (CDFI Fund) to serve as president of the Philadelphia Industrial Development Corporation (PIDC).
Community Development Financial Institutions Fund FAQ’s
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Frequently Asked Questions (FAQ) page for the CDFI Certification Blackout Period on its website.
CBO Increases CPI Estimates with Implications for HUD, LIHTC Properties
The Congressional Budget Office (CBO) released its Budget and Economic Outlook for 2023 to 2033, which includes the consumer price index (CPI) figure that has historically been used by HUD to determine income limits for LIHTC properties.
JCHS Rental Markets One Year After Our America’s Rental Housing Report Webinar– Feb. 24
In early 2022, when the Joint Center for Housing Studies of Harvard University released its last biennial America’s Rental Housing report, demand for rental housing was surging, rents had risen dramatically, vacancy rates were at 40-year lows, and many lower-income renters struggled to pay the rent.