Federal / Agency News

The adjustment leaves per-capita amounts unchanged for LIHTCs and PABs. However, the LIHTC small state minimum was reduced by $5,000 while the small state minimum for PABs was reduced by $665,000.

NH&RA urges members and other interested parties to support legislation to make the New Markets Tax Credit permanent as well as increase annual allocation authority. The NMTC Coalition has provided information and resources for how you can help.

Six communities across the country have been awarded a total of almost $5 million from HUD’s Choice Neighborhoods Initiative. The grants allow local leaders flexibility in executing their own comprehensive plans for community revitalization. Developer partners involved with the awards include NH&RA Members Telesis (Cleveland) and Pennrose (Philadelphia).

Data in the Opportunity Zones Information Resource has been updated from information provided in a February 8, 2018, release to include all census tracts that meet the New Markets Tax Credit Program (NMTC) Low-Income Community definition and additional contiguous census tracts eligible for designation as a QOZ.

Owners will be able to sign up for individual 30-minute sessions with HUD staff during designated times each week on Tuesdays and Thursdays from 2:00 – 4:00 PM EST.

The Fund received 230 applicants this year requesting a total of $16.2 billion in NMTCs.

The plan might inadvertently benefit affordable housing by lifting state volume caps on Private Activity Bonds, but it does not outline additional funding for affordable housing. While savings from cuts to the Department of Transportation would be sent back to that same Department in the form of grants, the same would not be true for HUD, whose cuts would also ostensibly pay for the infrastructure plan, but as affordable housing is not a part of the plan, HUD would receive nothing back in return.

The cut to the Department’s budget means proposed elimination for several programs, while a select few programs are kept at level or awarded increased funding. While Congress will not take the numbers to heart, a rent hike or work requirements for able-bodied families receiving rental assistance is possible.

The January 2018 edition of RADTalk, HUD’s RAD Newsletter, is celebrating $5 billion of construction activity for 2017. Furthermore, the recent issues also takes a deep dive into RAD Mod Rehab transactions.

The Federal Housing Finance Agency recently published the final rule stipulating housing goals for Fannie Mae and Freddie Mac for the next two years. The majority of both single family and multifamily goals remain the same from the previous two years. The GSEs must now support 315,000 rental homes serving 80% AMI or lower, an […]

Without an agreement, the law would reduce spending to $549 billion for defense and $516 billion for nondefense. Under the bi-partisan deal, those caps would be increased in FY 18 by $63 billion for non-defense domestic spending and $80 billion for defense spending.

HUD has released an updated report of recently released instructional materials as well as revisions dealing with various errors.