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.

HUD reissued the Update on Budget Based Rent Adjustments (BBRA) for Properties Assisted under Project Rental Assistance Contracts (PRACs) memo with a correction to paragraph five. The original correspondence dated March 12, 2020, referenced monthly per-unit deposit levels rather than annual per-unit deposit levels, as was intended.

Senate Majority Leader Mitch McConnell (R-KY) announced that the Senate will be in session on May 4. The House announced it would return from recess only to reverse course after conflicting advice from the Capitol physician and an outcry from members. In the next Coronavirus relief package, Leader McConnell will push for liability protections for […]

HUD created a resource for residents and families living in multifamily properties, which addresses steps residents can take in case of lost income during COVID-19, provides local contact information and explains the eviction moratorium in the CARES Act.

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.

The National Trust for Historic Preservation and Historic Tax Credit (HTC) Coalition developed a one pager outlining recommendations to improve and bolster the HTC in a future stimulus package.

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.

Applications for Delaware State Housing Authority’s Housing Development Fund (HDF) for Special Populations are now available. The $1.5 million Special Populations HDF loan creates and increases the supply of affordable housing for special needs populations.

Yesterday the Senate passed by voice vote the Paycheck Protection Program and Health Care Enhancement Act (H.R. 266), which appropriates an additional $321 billion to the Payment Protection Program, $60 billion for loans and grants for economic disaster assistance, $75 billion for hospitals and $25 billion for testing. The House is expected to pass the bill on Thursday by allowing members to vote by proxy, in which a member could designate a colleague to vote on their behalf.

The National Council of State Housing Agencies (NCSHA) released a matrix comparing the LIHTC accommodations NCSHA is requesting from the IRS to those allowed under existing IRS Revenue Procedures 2014-49 and 2014-50, which provide relief in instances of Presidentially-declared Major Disasters, and to recent IRS Notice 2020-23, which extends certain program deadlines until July 15, […]