General News

Novogradac published updated unit financing estimates of enacting a minimum four percent LIHTC , which estimates more than 126,000 additional affordable rental homes would be created or preserved from 2020 to 2029. 

In this blog post, Whitney Airgood-Obrycki with the Joint Center for Housing Studies of Harvard University estimates assistance for renters with at-risk wages could range from $274 million up to a staggering $7.5 billion.

According to Terner Center estimates, nearly 16.5 million renter households have at least one worker in an industry likely to be immediately affected by efforts to flatten the curve in the COVID-19 pandemic.

The National Housing Conference (NHC) will host a webinar with Federal Housing Administration (FHA) Commissioner Brian Montgomery on continued steps HUD and FHA are taking to assist borrowers, renters, lenders and property owners throughout the pandemic on May 1 from 1:00 – 2:00 pm ET.

Stewards of Affordable Housing for the Future developed a communications tip sheet and blog post for sensitive conversations with residents about whether they can pay rent, how to access assistance or how to structure repayment agreements, etc.

The National Low Income Housing Coalition (NLIHC) created a searchable database and map of multifamily properties covered under the federal moratoriums to help renters know if they are protected.

On April 12, 2020, Governor Andrew M. Cuomo signed Executive Order 202.16 to help expedite the formation of essential developments, including affordable housing and homeless shelters.

Governor Gavin Newsom announced that California has become the first state in the nation to secure FEMA approval to provide safe isolation capacity for tens of thousands of people experiencing homelessness in California in order to protect them and the state from COVID-19.

Fannie Mae released updated COVID-19 Forbearance Process Guidance following the enactment of the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The guidance outlines the necessary steps for submitting delegated forbearance notifications for a Borrower impacted by COVID-19. Fannie Mae is also updating the intake process for submitting non-delegated forbearance requests and modifications. Effective […]

Last week California Governor Newsom made three key housing leadership appointments. Gustavo Velasquez was named director of the California Department of Housing and Community Development (HCD). Zack Olmstead was appointed chief deputy director at HCD. HCD’s Doug McCauley was appointed commissioner of the California Department of Real Estate by Governor Newsom.

The California Department of Housing and Community Development (HCD) awarded a total of $85.5 million to developers and counties throughout California in the first round of funding for the Housing for a Healthy California program. Funding for the program comes from both the Federal National Housing Trust Fund and California’s Building Homes and Jobs Trust Fund.

The New York State Legislature has expanded prevailing wage requirements for “covered projects.” However, there are notable exceptions for affordable and supportive housing.