In a new brief, Federal Reforms to Strengthen Housing Stability, Affordability and Choice, the authors highlight the following eight frequently proposed federal reforms to existing housing programs and policies, identify their support among relevant housing stakeholders, and discuss evidence of their impact on housing stability, affordability and choice.
The Missouri Housing Development Commission (MHDC) will hold a virtual 2020 Application Workshop on September 30 from 9 a.m. to noon CT. This virtual forum will be open to applicants who wish to submit a 2020 application for Federal and State LIHTCs, HOME funds, National Housing Trust Fund, and MHDC Fund Balance. Anyone planning on submitting a 2020 Rental Production application should plan on attending.
The Arizona Department of Housing (ADOH) issued updated compliance guidance for rental properties with LIHTC, HOME, state and national Housing Trust Fund and Neighborhood Stabilization Programs funding sources. IRS Notice 2020-53 allows income recertifications to be delayed for the remainder of the year. However, it does not delay or exempt owners/agents from ensuring LIHTC households are still meeting student eligibility requirements.
The Alabama Housing Finance Authority will hold a public hearing at 9:00 am CT on July 21 concerning the proposed 2021 HOME Action Plan, the Housing Credit Qualified Allocation Plan and the National Housing Trust Fund Allocation Plan (Plans) for the distribution of HOME funds, Housing Credits and National Housing Trust Funds in exchange for the new construction and substantial rehabilitation of low-income projects and for the monitoring of HOME, Housing Credits and National Housing Trust Funds for all projects. The hearing will be held at the Riverwalk Stadium located at 200 Coosa Street, Montgomery, AL, 36104.
Kentucky Housing Corporation (KHC) amended the 2015-2019 Consolidated Plan and 2019 Annual Action Plan and is accepting comments through May 19. KHC recently received additional funding allocations through the CARES Act for CDBG, ESG and HOPWA, necessitating amendments to planning documents.
The California Department of Housing and Community Development (HCD) awarded a total of $85.5 million to developers and counties throughout California in the first round of funding for the Housing for a Healthy California program. Funding for the program comes from both the Federal National Housing Trust Fund and California’s Building Homes and Jobs Trust Fund.
The National Low Income Housing Coalition (NLIHC) released research notes, “The Need for Emergency Rental Assistance During the COVID-19 and Economic Crisis,” that concludes that Congress must invest up to $100 billion to keep the lowest-income households stably housed over the next year during and in the immediate wake of the COVID-19 pandemic. The report […]
Former Vice President and Democratic presidential candidate Joe Biden released his housing plan, which calls for the expansion of LIHTC authority by $10 billion and the permanent authorization and expansion of the New Markets Tax Credit.
The Federal Housing Finance Agency (FHFA) recently authorized Fannie Mae and Freddie Mac to disburse payments to HUD for the Housing Trust Fund (HTF) and to the Treasury Department for the Capital Magnet Fund (CMF). According to FHFA, HTF will receive $326.4 million for the year, while CMF will receive $175.8 million. Last year, HTF […]
On February 7, the White House Opportunity and Revitalization Council, chaired by HUD Secretary Ben Carson, released its one-year report on Opportunity Zones to President Trump. The report makes 43 legislative and regulatory recommendations relating to Opportunity Zones, including a call for the collection of data to assess the incentive’s value to distressed communities.
Applications for the National Housing Trust Fund Program (NHTF) are being accepted by Alabama Housing Finance Authority (AHFA) for the remaining 2018 and 2019 funding. Applications to be considered for this funding pool must be received by AHFA prior to 5:00 pm ET, on Friday, March 6, 2020. The NHTF Program Status Report includes pending applications, awards, returned awards and terminated applications.
President Trump’s Administration released the Fiscal Year (FY) 2021 budget request, “A Budget for America’s Future.” HUD is allocated $47.9 billion in funding, a 15.2 percent decrease over FY 2020 enacted levels with notable zeroing out of the HOME program, Community Development Block Grants (CDBG), Public Housing Capital Fund, Choice Neighborhoods and HOPE VI.