General News

The Community Economic Development Assistance Corporation released a report, which explores the risk that LIHTC-financed properties in Massachusetts will convert to market-rate housing at Year 30. Roughly 86 percent of the 15,679 LIHTC units approaching year-30 are subject to some form of longer-term affordability restriction and will not be at risk for market conversion before December 31, 2030.

The California Housing Partnership and Housing California released California’s Roadmap HOME 2030, an initiative to develop a ten-year “Marshall Plan” that will set the course for creating a California with homes for all.

The California Housing Partnership released the 2020 Affordable Homes at Risk report, which found that that California has already lost 15,004 affordable rental homes and that another 31,821 affordable rental homes are currently at risk of market rate conversion in the next decade.

A group of California Assembly members introduced a bill that would inject $2 billion into addressing California’s homelessness crisis — an immediate effort to meet the governor’s request for permanent funding to tackle the problem.

The Illinois Housing Council has been working with the Cook County Assessor’s Office on strategies to ensure that deed-restricted, affordable rental properties receive fair and accurate property assessments. The Assessor’s Office recently created the Real Property Income & Expense (RPIE) Online tool, which is a digitally secure tool for commercial property owners to provide data […]

LOUIS, MO – With three recently closed transactions to support community development projects in Florida, New Jersey, and North Carolina, Smith NMTC Associates, LLC has surpassed $500M in tax credit investments. Additional projects in development for 2020 include the Delmar DivINe initiative in St. Louis and proposals in Georgia, Maryland, New Jersey, Texas, and Virginia.

The Joint Center for Housing Studies of Harvard University (JCHS) will host an event with Whitney Airgood-Obrycki, lead author of the new America’s Rental Housing report, to discuss key findings, including how low vacancy rates, limited new construction and a growing number of higher-income renters are driving the rental affordability crisis.

The Affordable Housing Tax Credit Coalition (AHTCC) is accepting entries for the 2020 Charles L. Edson Tax Credit Excellence Awards through March 11.

Maine Governor Janet Mills (D) signed H.P. 1180 to create a State LIHTC that is equal to the Federal LIHTC, beginning January 1, 2021. The Maine LIHTC will have a $10 million annual statewide cap, but unallocated funds can be carried forward to create a maximum $15 million per year.

The Metropolitan Council of Nashville and Davidson County (Metro Council) amended the original fast track legislation to include inspections and certificates of occupancy by the Department of Codes and Building Safety for qualifying affordable housing developments.

President Trump’s Administration released the Fiscal Year (FY) 2021 budget request, “A Budget for America’s Future.” HUD is allocated $47.9 billion in funding, a 15.2 percent decrease over FY 2020 enacted levels with notable zeroing out of the HOME program, Community Development Block Grants (CDBG), Public Housing Capital Fund, Choice Neighborhoods and HOPE VI.

HUD published Housing Notice 20-02 for Delegated Processing for Certain Capital Advance Projects, which aligns with HUD’s most recent Section 202 and 811 Capital Advance Notices of Funding Availability (NOFA). The notice updates Housing Notice 2013-12 by streamlining the firm commitment process by mandating a timely issuance within 12 months