General News

On Thursday, June 6 the Community Development Financial Institution (CDFI) Fund announced the calendar year 2013 New Markets Tax Credit (NMTC) allocations. A total of 310 Community Development Entities (CDEs) applied, requesting a total of approximately $25.9 billion in allocations.

On Thursday, May 29, Colorado Governor John Hickenlooper signed HB-1017 into law, renewing Colorado’s State Low Income Housing Tax Credit program. Sponsored by Representative Crisanta Duran and Senator Jessie Ulibarri, HB-1017 will create significant new resources to support the development of affordable rental housing across the state.

On May 23, President Obama announced significant cabinet position changes, including his nominations of Mayor Julián Castro of San Antonio to become the next Secretary of the Department of Housing and Urban Development (HUD) and current HUD Secretary Shaun Donovan to head the White House Office of Management and Budget (OMB).

All conference materials, PowerPoint presentations, relevant articles, reports, memos, etc. from the 2014 Spring Developers Forum are available below under the relevant session titles.

HUD has published its quarterly notice of all regulatory waivers that the Department has approved for the Office of Community Planning and Development, the Office of Housing – Federal Housing Administration (FHA), and the Office of Public and Indian Housing.

QAP Deadlines

Representatives Pat Tiberi (R-OH) and Richard Neal (D-MA) recently introduced H.R. 4717, a bill which would establish a permanent floor for both the 9% and 4% Low-Income Housing Tax Credit (LIHTC). The bill would create a fixed nine percent rate for new rental construction property and a fixed four percent rate for existing property.

On May 21, the full House Committee on Appropriations approved the fiscal year (FY) 2015 appropriations bill for the Department of Transportation, Department Housing & Urban Development (HUD) and Related Agencies by a vote of 28-21. There were no material amendments adopted in full committee markup.

All conference materials, PowerPoint presentations, relevant articles, reports, memos, etc. from the 2014 Spring Developers Forum are available below under the relevant session titles.

The Senate Banking Committee on Thursday, May 15 endorsed the Housing Finance Reform and Taxpayer Protection Act of 2013 (S. 1217), by a bipartisan vote of 13-9.

Last week, Maryland affordable housing advocates celebrate the success of the Multifamily Rental Housing Programs Efficiency Act (HB 453), legislation that will reduce municipal barriers to rental housing production. Advocates also succeeded in securing $25.73 million for the Rental Housing Works (RHW) program, the highest level of funding for the program in its history.

The U.S. House of Representatives Transportation-HUD (THUD) Appropriations Subcommittee on May 5, 2014 released its draft fiscal year (FY) 2015 appropriations legislation for the Department of Housing and Urban Development (HUD).