Congress

Following approval by the U.S. Senate on December 13, Congress completed final action on a consolidated $446.8 billion omnibus appropriations bill (HR 3288) for Fiscal Year 2010. The measure was sent to President Obama on December 15 for his expected signature.

NH&RA’s Council for Energy Friendly Affordable Housing is pleased to report that a new Senate bill (S. 2897) has been introduced by Senator Michael Bennet (D-CO) that would create significant financial incentives for owners of federally-assisted housing projects to improve their properties’ energy efficiencies and reduce energy costs.

The House of Representatives has passed tax extenders legislation (HR 4213) on a vote of 241-181. The measure now awaits consideration in the U.S. Senate. Key provisions include…

President Obama has announced plans to freeze domestic discretionary spending at its current level for three years.

Check out our YouTube Channel to view our 2009 Affordable Housing Vision Awards addresses from Lisa B. Alberghini, President of the Planning Office for Urban Affairs, Inc. and David A. Smith. CEO of CAS Financial Advisory Services.

U.S. Housing and Urban Development (HUD) announced that nearly 200 apartment units in New York City will become more energy efficient as the result of $3.6 million in funding being awarded today to Jonathan Rose Companies, a New York-based property owner and developer.

The Harvard Joint Center, with help from the What Works Collaborative, has published a new report entitled, “The Disruption of the Low-Income Housing Tax Credit Program: Causes, Consequences, Responses, and Proposed Correctives.”

While tax credit equity remains the biggest industry concern, debt financing is also elusive for many developers. 2010 promises to be a challenging year–originations are down, underwriting standards are only becoming stricter and, with then end of the TCAP program and declining state budgets, gap financing will become even more difficult to obtain. NH&RA can help!

Leaders of the Senate Finance Committee, Max Baucus (D-MT) and Chuck Grassley (R-IA) yesterday sent a letter to Senate Majority Leader Harry Reid (D-NV) and Minority Leader Mitch McConnell (R-KY) with regards to expiring tax assistance provisions not included in the House-passed extenders legislation.

U.S. Senator Dianne Feinstein (D-CA) recently introduced a measure to help stimulate and resume development of renewable energy facilities, such as wind farms and solar panel factories.

The U.S. House of Representatives passed on December 16 the Jobs for Main Street Act, which includes over $150 billion in provisions intended to spur job creation and fund various infrastructure and relief programs with targeted investments for highways and transit, school renovation, hiring of teachers, police, and firefighters, and job training.

The U.S. House of Representatives and Senate conferees have agreed to a $446.8 billion omnibus appropriations bill (HR 3288). This “˜omnibus’ legislation includes the Transportation-HUD appropriations measure as well as the Commerce-Justice-Science, Financial Services, Labor-Health and Human Services, Milcon-VA, and State-Foreign Operations bills.