General News

NCSHA released revamped model forms for LIHTC compliance monitoring, developed in collaboration with its members and stakeholders. NCSHA’s Recommended Practices in LIHTC Administration encourage housing finance agencies to adopt model forms, which help standardize compliance monitoring practices across states and create efficiencies for development owners and other LIHTC industry professionals.

Marcus & Millichap will host a webinar on October 10 at 1:00 pm EDT to discuss the recently-passed California Tenant Protection Act of 2019, also known as CA Assembly Bill 1482. The panelists (John Sebree, Marcus & Millichap; Jim Lapides,National Multifamily Housing Council; Damon Conklin,Federation of California Builders Exchanges; and John Chang, Marcus & Millichap) […]

The Quicken Loans Community Fund, the City of Detroit Housing and Revitalization Department and Quantified Ventures are seeking applications from local organizations that holistically tackle housing challenges affecting the health and well-being of the Detroit community – either by eliminating systemic barriers to housing, or by securing safe, quality housing for low-income and typically underserved […]

Following a report from the Urban Institute that estimates the Washington, DC region needs 374,000 more housing units by 2030, the Metropolitan Washington Council of Governments approved regional housing targets. DC Mayor Muriel Bowser set a goal to deliver 36,000 housing units by the year 2025. The office of the Deputy Mayor for Planning & […]

The Rockefeller Foundation announced $3.7 million in grants that will benefit four U.S. cities to help drive responsible private investment in Opportunity Zones. The Foundation named Washington, D.C., Oakland, Dallas and St. Louis as the newest participants in its Opportunity Zone Community Capacity Building Initiative, which launched in May 2019. The initiative will help cities […]

The Supreme Court of Georgia decided in Heron Lake II Apartments, LP et al. v. Lowndes County Board of Tax Assessors that LIHTCs do no constitute “actual income.” The decision centers around the argument that investors do not receive more money from anyone for tax credits rather, they merely pay less in taxes to the […]

The Joint Center for Housing Studies of Harvard University released a working paper, which details the dramatic decline of low-cost rental units over the past three decades. The number of units renting for less than $600 per month, adjusted for inflation, fell by almost 4 million between 1990 and 2017. The data also show that […]

Democratic presidential hopeful Senator Bernie Sanders (VT) released his expansive Housing for All plan, which is guided by the belief that every American must have a safe, decent, accessible and affordable home as a fundamental right. The plan proposed to build 7.4 million affordable units that will remain affordable in perpetuity through a ten-year, $1.48 trillion investment in the National Housing Trust Fund.

The Campaign for Housing and Community Development Funding will hold a webinar on FY 2020 Funding Outlook for Affordable Housing Programs on September 26 at 4:00 pm EDT. Doug Rice from the Center on Budget and Policy Priorities, Moha Thakur from the National Housing Trust, Steve Berg from the National Alliance to End Homelessness and […]

The California Legislature passed S.B. 451, which would create a State Historic Tax Credit (HTC) for 20 or 25 percent of qualified rehabilitation expenses (QREs) that meet specific criteria and would be in effect from 2021 through 2026. The credit would have a statewide cap of $50 million per calendar year, with $2 million set […]

The Washington State Housing Finance Commission released Nonprofit Transfer Disputes in the Low Income Housing Tax Credit Program: An Emerging Threat to Affordable Housing. In Washington and other states, nonprofit housing developers are struggling with legal challenges to statutory ownership transfers, draining resources away from affordable housing. The report defines the emerging threat and shares […]

The California Department of Housing and Community Development announced that Director Ben Metcalf has resigned, effective September 6. Chief Deputy Director Doug McCauley, will serve as acting director until a new director is appointed.