HUD Awards $18 Million in First Round of GRRP Funding

HUD awarded approximately $18 million in grant funding and loan commitments under the Green and Resilient Retrofit Program (GRRP) to owners of properties participating in HUD-Assisted Multifamily Housing programs. Congratulations to NH&RA members receiving funding through the Elements category: Enterprise Community Development, Fairstead, Homes for America, McCormack Baron Salazar, POAH, Related Affordable and Vitus.

Elements awards provide funding for property owners to include climate resilience and energy and water efficiency improvements at properties that are already in the process of a development or rehabilitation transaction. Upgrades financed under the Elements category will support a range of improvements, such as installation of heat-wave resilient cool roofs and fire-resistant roofs, on-site solar power systems, insulation and air sealing, heat pumps, energy efficient windows and similar upgrades.

Applications for the three GRRP categories (Elements, Leading Edge and Comprehensive) will be accepted on a rolling basis. The next applications are due on September 28 for the Elements, October 31 for Leading Edge and November 30 for Comprehensive.

HUD Releases HOME Monthly Reports

HUD has announced that the latest HOME Monthly Reports, as of November 30, 2024, are now available. Why it matters: These reports are crucial for Participating Jurisdictions (PJs) to effectively track and manage their housing initiatives. Details: The bottom line: These reports empower PJs to optimize their housing strategies, ensuring effective use of resources and […]

Ginnie Mae’s FY24 Annual Financial Report

Ginnie Mae has released its Fiscal Year 2024 (FY24) Annual Financial Report, and the numbers and initiatives are making an impact. Here are a few key takeaways:

Workforce Housing Debt Financing Updates

The northeast regional affordable housing community had the opportunity to receive an update on agency executions for workforce housing from PGIM’s Michael Lostocco at the NH&RA Fall Developers Forum. Fannie Mae and Freddie Mac have developed voluntary programs aimed at addressing housing affordability, particularly for middle-income renters.

FHFA Unveils Enterprises’ Three-Year Plans to Improve Housing Opportunities for the Underserved

Fannie Mae and Freddie Mac (the Enterprises) will seek to extend housing access in rural underserved markets, enhance their support for manufactured housing and continue addressing liquidity needs for first-time homebuyers, among a host of activities outlined in plans published by the Federal Housing Finance Agency (FHFA).