Federal / Agency News
RFP for NMTC Program Native Initiative Due Nov. 19
The Community Development Financial Institutions Fund released a Request for Proposal related to a procurement that is part of a broader effort to increase New Markets Tax Credit investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands and Alaskan Native Village Statistical Areas.
CDFI Fund Opens CY 2021 NMTC Allocation Round; Application Deadline Jan. 13, 2022
The Community Development Financial Institutions (CDFI) Fund released a notice of allocation availability (NOAA) for the $5 billion calendar year 2021 allocation round of the New Markets Tax Credit (NMTC) program, along with application materials and an updated application FAQ document.
CDFA Report: $17.2 Billion in Multifamily Bonds Issued in 2020, 62 Percent of All Bonds Issued
Council of Development Finance Agencies’ (CDFA) Annual Volume Cap Report for 2019 and 2020.
HUD Allocates Over $2 Billion in CDBG for Disaster Relief
HUD announced the allocation of more than $2 billion ($2,040,617,000) in CDBG-Disaster Recovery (CDBG-DR) and CDBG-Mitigation (CDBG-MIT) funds.
LIHTC, $154 Billion in Housing Spending Now Included in Build Back Better Act
House leadership recently released an updated version of the Build Back Better Act, which now includes $153.95 billion in direct housing spending provisions as well as several key LIHTC provisions.
Spending Provisions of Budget Reconciliation Released; Still Awaiting Tax Provisions
Last week, the House released the 1,684-page budget reconciliation bill text for spending provisions, which includes $153 billion for housing.
Using Community Income Levels to Help Tenants Get Emergency Rental Assistance
In a new Joint Center for Housing Studies at Harvard University blog post, Sam Gilman makes the case for using community income levels to help tenants get Emergency Rental Assistance. Gilman is the co-founder and COO of the COVID-19 Eviction Defense Project.
$10 Billion in ERA Funds Distributed Through September
Last week, the Department of the Treasury announced state and local governments distributed nearly $2.8 billion from the Emergency Rental Assistance program to more than 510,000 households in September, up from 459,000 households in August.
Comments on HUD’s 30-Day Notice Period for Non-Payment of Rent Evictions in HUD-Assisted Properties Rule Due Nov. 8
HUD published an interim final rule, which prohibits the eviction of tenants for nonpayment of rent from HUD-subsidized public housing and certain properties with project-based rental assistance without providing a 30-day notice period that includes information about available federal emergency rental assistance.
HUD Posts Ask a Question Responses to 2020 MAP Guide
HUD’s Office of Housing published the responses to the Ask a Question tool set up in March 2021 for the 2020 Multifamily Accelerated Processing (MAP) Guide.
Action Alert: Include LIHTC, Affordable Housing in Budget Reconciliation
Budget reconciliation negotiations remain ongoing with a deadline of October 31. Advocacy is needed specifically from Senators and Representatives to leadership (Speaker Nancy Pelosi (D-CA) and Senator Majority Leader Chuck Schumer (D-NY)) and to the National Economic Council at The White House.
Senate Committee Considers Nomination of Assistant Secretary for Administration at HUD
The Senate Committee on Banking, Housing and Urban Affairs held a hearing on October 26 to consider the nomination of Elizabeth de Leon Bhargava to be an assistant secretary for Administration at HUD.