Federal / Agency News

The White House announced new appointments by President Biden to the Community Development Advisory Board (the Advisory Board), a 15-person federal advisory committee to the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund).

HOME Investment Partnerships Program (HOME) grants are subject to the grant closeout requirements at 2 CFR 200.344, which require all grants to be closed out within one year of the end of the grant’s period of performance.

Novogradac announced it is providing an additional benefit for LIHTC stakeholders. In addition to Novogradac’s LIHTC equity pricing page, which provides a nationwide average of equity price per credit, a new page, available upon request, offers data for regions and some states. 

The U.S. Department of Housing and Urban Development published a notice in the Federal Register establishing 2025 difficult development areas (DDAs) and qualified census tracts (QCTs) for LIHTCs.

MO, MA and PA Make Big Changes to State Credits

HUD recently announced a significant policy change that will impact developers involved in the LIHTC program.

The EPA’s $27 billion Greenhouse Gas Reduction Fund (GGRF), funded through the Inflation Reduction Act, offers significant opportunities for affordable housing multifamily rental developers.

FHFA recently proposed new housing goals for Fannie Mae and Freddie Mac, set to be in place from 2025 through 2027.

Affordable housing developers are facing significant challenges due to the rising cost of property insurance as outlaid in a recent New York Times article.

The Biden-Harris administration awarded nearly $140 million to expand affordable housing for people with disabilities through the Department of Housing and Urban Development’s Section 811 Project Rental Assistance program.

The Department of Housing and Urban Development has launched the Legacy Challenge to encourage communities to use Section 108 through the Community Development Block Grants to build housing.

A report from The Providence Journal highlights a new pilot initiative by the Providence Affordable Housing Trust Fund.