Federal / Agency News

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.

HUD’s Office of Community Planning and Development (CPD) issued Notice CPD-23-12 providing implementation guidance for Build America, Buy America (BABA) domestic sourcing requirements for CPD programs, including the HOME Investment Partnerships program and Housing Trust Fund.

The U.S. Department of Transportation (DOT) is hosting a series of webinars for audiences interested in the potential use of the Railroad Rehabilitation and Improvement Financing (RRIF) and Transportation Infrastructure Finance and Innovation Act (TIFIA) programs to finance transit-oriented development (TOD) projects, including commercial-to-residential conversions.

HUD and the Advisory Council on Historic Preservation (ACHP) announced that interested parties can apply for the 2024 ACHP/HUD Secretary’s Award for Excellence in Historic Preservation award.

The Federal Housing Finance Agency (FHFA) announced that the 2024 multifamily loan purchase caps for Fannie Mae and Freddie Mac (the Enterprises) are $70 billion for each Enterprise, for a combined total of $140 billion to support the multifamily housing market.

The Kentucky Department for Local Government (DLG) is seeking input from communities affected by the flooding from July 2022.

Last week the Senate passed a Fiscal Year (FY) 2024 appropriations package which included the Transportation, Housing and Urban Development (THUD) bill.

HUD’s Office of Policy and Development Research submitted its Worst Case Housing Needs 2023 Report to Congress, showing that worst-case housing needs reached a record high of 8.53 million renter households in 2021.

The Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on Fannie Mae and Freddie Mac’s (the Enterprises’) proposed modifications to their 2022-2024 Duty to Serve Plans.  FHFA will accept comments through December 6 via this form.

The Federal Housing Finance Agency will hold a the first in a series of property insurance symposiums on November 14 and 15, 2023.

The New Jersey Housing and Mortgage Finance Agency’s (NJHMFA) board of directors approved two new programs, the Urban Preservation Program (UPP) and Workforce Housing Program (WHP).

The U.S. Department of Agriculture’s Rural Housing Service (RHS) Office of Multifamily Housing announced a proposed rule that would update the insurance coverage and deductible requirements that have been in place since 2004 for its multifamily direct loan and grant programs.