General News

The California Housing Partnership annually assesses the historical loss and conversion risk of federally- and state-subsidized affordable rental properties. Its 2019 analysis found that between 1997 and 2018, California lost 15,044 affordable rental homes, one in four of which were financed with LIHTCs, and another 34,554 affordable rental homes are at risk of conversion.

On Thursday, Feb. 21, Vice President Mike Pence toured an opportunity zone in Columbia, South Carolina with Senator Tim Scott (R-SC). Vice President Pence delivered remarks at the Meeting Place Church which oversees a 23-acre, 215,000 square foot ministry complex which includes a full-service banquet and conference center, a renal care facility, professional counseling services, […]

This New York Time article explores some of the more than 80 Opportunity Zone Funds that have been set up so far. Some impact investors — whose aim is to make money while funding projects that bring about social or economic benefits — are targeting their funds toward areas in the Southeast and industrial Midwest. […]

In a speech at the National Association of Home Builders’ International Builders’ Show, Secretary Carson said, “we are looking into ways that would incentivize local officials to cut back on archaic state and local regulatory barriers, such as outmoded zoning and land use restrictions.” Politico’s Katy O’Donnell reports Sec. Carson said, “if we tell a […]

HUD announced the expansion a Federal Housing Administration (FHA) pilot program that streamlines FHA mortgage insurance applications for affordable housing developments that have equity from the sale of LIHTC Program to also include Section 221(d)(4) and Section 220 loan products.

The Missouri Department of Economic Development, in conjunction with the Missouri Housing Development Commission, the Missouri Department of Social Services, and the Missouri Department of Health and Senior Services, will host a webinar on the draft 2019 Action Plan for the State of Missouri. 

San Jose Mayor Sam Liccarddo announced that the city will devote nearly $100 million to 11 projects across the city over the next several years. The 11 projects are expected to provide 1,144 apartments to formerly homeless residents, low-income seniors and other vulnerable groups.

The Louisiana Housing Corporation (LHC) released a $25 million Notice of Funding Availability (NOFA) to increase and preserve affordable housing opportunities in 37 parishes impacted by Hurricanes Katrina and Rita. Specifically, $14.7 M has been allocated for recovery in New Orleans, which sustained the largest amount of damage from Katrina. The remaining dollars will be made available in all parishes that were impacted by the storms.

This New York Times article explains the benefits of the Opportunity Zones program for investors, developers and communities. “It’s arguably the most significant tax break in decades,” said Ben Miller, co-founder and chief executive of Fundrise, a real estate crowdfunding site that is sponsoring an opportunity fund. The funds are generally not for small-time investors. […]

Governor Kate Brown and Oregon Housing and Community Services released the statewide 5-year housing plan, Breaking New Ground. The plan focuses on six priorities and includes measurable goals to work towards by 2023:

The California Department of Housing and Community Development awarded more than $30 million from the National Housing Trust Fund program to help build new housing affordable for extremely low-income households.

The California Department of Housing and Community Development (HCD) announced the hire of Mark Stivers as the acting Deputy Director for the Division of Financial Assistance. The Division of Financial Assistance administers the HCD’s loan and grant programs.