Federal / Agency News

HUD’s Office of Multifamily Housing Programs announced that construction investment for affordable housing preservation through the Rental Assistance Demonstration (RAD) program has surpassed $15 billion since the program’s inception in 2013.

HUD will host a webinar from 1 to 2 p.m. ET on November 1 to introduce the Community Resilience Toolkit and the Climate Resilience Implementation Guides. The guides provide step-by-step instructions on how to implement specific resilience projects and programs to address climate hazards using Community Planning and Development (CPD) and other funding.

From noon to 1 p.m. ET on November 9 HUD will host a webinar aimed at newer nonprofits interested in developing affordable rental housing for low- and moderate-income households.

An op-ed by Treasury Secretary Janet Yellen and U.S. HUD Secretary Marcia Fudge calls President Biden’s plan to boost affordable housing both unprecedented and necessary.

IRS Revenue Procedure 2022-38 sets the per-capita multiplier for nine percent LIHTCs ($2.75) and the small state minimum ($3,185,000), as well as the private bond multiplier ($120) and the small state minimum ($358,845,000).

A new guide from HUD, Increasing the Supply of New Affordable Housing: Quick Guide to Using HUD’s Community Planning and Development (CPD) Programs, details funding sources available for affordable housing and provides case studies.

The National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation’s (PAHRC) new joint report, Improving Low-Income Housing Tax Credit Data for Preservation, examines the extent to which housing finance agencies (HFAs) provide data on LIHTC properties at the state and local levels and analyzes the catalysts, challenges and necessary resources impacting their ability to collect, maintain and report LIHTC property data to HUD and the wider public.

The Biden-Harris administration announced progress on implementing its Housing Supply Action Plan.

The IRS also issued Notice 2022-52, which extends placed-in-service (PIS) deadlines by one year for allocations starting in 2019.

The Internal Revenue Service (IRS) and the U.S. Department of the Treasury issued new final regulations on the average income test (AIT).

Fannie Mae announced the appointment of Priscilla Almodovar as chief executive officer (CEO) and member of the Board of Directors, effective Dec. 5, 2022.

The. U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced three guarantees totaling $355 million under the Community Development Financial Institution (CDFI) Bond Guarantee Program.