Federal / Agency News
Over 46,000 Applications Received for Low-Income Communities Bonus Credit Program
The U.S. Department of the Treasury, Internal Revenue Service (IRS) and Department of Energy (DOE) announced that the Low-Income Communities Bonus Credit Program received more than 46,000 applications within the initial 30-day application period.
HUD Publishes 2024 OCAFs; National Rate of 5.3 Percent
The U.S. Department of Housing and Urban Development published the operating cost adjustment factors (OCAFs) for eligible multifamily housing properties with an anniversary date on or after Feb. 11, 2024.
House Financial Services Subcommittee Hearing on Housing Affordability – Today at 10 a.m.
The Housing and Insurance Subcommittee of the House Financial Services Committee will hold a hearing on “Housing Affordability: Governmental Barriers and Market-Based Solutions” at 10 a.m. ET on December 6.
HUD Publishes Draft Notice of Processing Budget-Based Rent Increases
HUD’s Office of Multifamily Housing Programs published a draft housing notice clarifying the circumstances under which HUD will approve a budget-based rent increase for projects subject to Low Income Housing Preservation and Resident Homeownership Act (LIHPRHA) Use Agreements.
HUD Publishes Notice for Green Mortgage Insurance Premium Reporting
HUD’s Office of Multifamily Housing Programs and Office of Residential Care Facilities published a Housing Notice titled Required Use of Portfolio Manager for Green Mortgage Insurance Premium Compliance Reporting,
Florida Releases RFA Documents and Schedules Workshop
The Florida Housing Finance Corporation (FHFC) recently released a draft Request for Applications (RFA) 2024-102 SAIL Financing for Smaller Permanent Supportive Housing Developments for Persons with Special Needs to their website, including and a draft of the excel Exhibit A.
Congress Approves Temporary Funding Measure through the New Year
Last week, the Senate passed the spending bill with an 87-11 tally, ending the threat of a government shutdown until after the holidays.
HUD, HHS Unveil Health-Focused Housing Efforts
The Biden-Harris administration released a new resource to help take action to address homelessness, The U.S. Playbook to Address Social Determinants of Health.
HUD Streamlines Enrollment Process for Affordable Connectivity Program
HUD announced a new data-sharing agreement with the Federal Communications Commission (FCC) to support access to the Affordable Connectivity Program (ACP) by reducing barriers to enrollment.
CDFI Fund Releases Updated FAQ Document for NMTC Compliance
The Community Development Financial Institutions (CDFI) Fund released an updated frequently asked questions (FAQ) document concerning compliance for the New Markets Tax Credit (NMTC) incentive.
Pennsylvania Announces Reminder to Submit 9 Percent Applications
The Pennsylvania Housing Finance Agency (PHFA) announced a reminder to submit the full nine percent application by Jan. 11, 2024 at 5:00 p.m. ET in both hard copy and electronic format.
IRS Increases 2024 LIHTC and PAB Per Capita Rates, Minimums
In Revenue Procedure 2023-2024 the Internal Revenue Service (IRS) increased the 2024 nine percent LIHTC ceiling to the greater of $2.90 multiplied by the state population or $3,360,000.