News

Representatives Jim Clyburn (D-SC), Alma Adams (D-NC) and Lacy Clay (D-MO) introduced the Opportunity Zone Reform Act (H.R. 5042) which would eliminate Opportunity Zones that are not low-income and allow states to replace those zones with ones that are low-income as defined by the New Markets Tax Credit. The bill also would prohibit investments in […]

Governor Ron DeSantis (R-FL) announced full funding for affordable and workforce housing programs. Unveiled in his Bolder, Brighter, Better Future Budget, the Governor recommends providing $387 million to the affordable housing trust funds – $119.8 million for the State Apartment Incentive Loan (SAIL) program and $267.2 million for the State Housing Initiative Partnership (SHIP) program.

HUD User published a case study on the Riverport Family Scholar House, one part of a larger multi-generational housing development. Riverport provides affordable housing and a network of support services to single parents and foster care alumni who are pursuing post-secondary education in Louisville, KY. Residents receive access to free or heavily subsidized child care, […]

The Internal Revenue Service (IRS) released Revenue Procedure 2019-44, which sets state ceilings for nine percent LIHTCs and private activity bonds (PAB). The LIHTC cap is the greater of $2.8125 multiplied by the state population or $3,217,500. The PAB cap is the greater of $105 multiplied by the state population or $321,775,000.

HUD published proposed revised forms of the Public Housing Authority Annual Contributions Contract (ACC) and Mixed Finance Amendment to the ACC (MFACC Amendment) for public review and comment. HUD also published a side-by-side comparison chart of the revisions to the ACC, and redline versions of the ACC and MFACC Amendment.

Democratic presidential hopeful Mayor Pete Buttigieg (South Bend, IN) released An Economic Agenda for American Families which includes spending $430 billion on affordable housing measures. “He will enable more than 2 million more units of affordable housing to be built or restored where it is needed most, using billions of dollars of investments in the Housing Trust Fund, Capital Magnet Fund, HOME and CDBG funds, and the Low Income Housing Tax Credit.”

HUD’s Office of Affordable Housing Programs (OAHP) is offering a Building HOME training series in January and February of 2020. The series will provide an overview of the HOME Investment Partnerships Program (HOME), including the latest requirements codified in the HOME Final Rule.

Representative Rashida Tlaib (D-MI) sent a letter to the chairmen of the House Committee on Ways and Means, Committee on Oversight and Reform Subcommittee on Economic and Consumer Policy, and the Committee on Financial Services Subcommittee on Oversight and Investigations to request an investigative hearing on whether political contributions influenced the designation of opportunity zones in her district and across the country.

Representatives Hank Johnson (D-GA) and Bobby Rush (D-IL) introduced H.R. 4999 which would require investments that benefit from the opportunity zones (OZs) incentive to reach certain benchmarks in diversity and affordable housing. The bill would require all qualified opportunity funds (QOFs) to have advisory boards for each OZ in which they invest.

Voters in multiple jurisdictions across the country approved housing- and mitigation-related ballot measures. Voters in Durham, NC approved a $95 million affordable housing bond by a 76 to 24 percent margin. The measure will be paired with $65 million in federal and local funding over the next five years to support affordable housing development and […]

Last week the Senate voted 84-9 to pass a four-bill FY 2020 spending package that includes funding for Agriculture, Commerce-Justice-Science, Interior-Environment and Transportation-HUD. The bill includes modest increases over FY 2019 funding levels for rental assistance programs but cuts funding for Choice Neighborhoods, Housing for Persons with AIDS, Indian Housing Block Grants and Community Development Block Grants.

The Senate Committee on Banking, Housing and Urban Affairs will hold a hearing at 10:00 am ET on November 7 entitled “Examining Bipartisan Bills to Promote Affordable Housing Access and Safety.” The hearing will take place in Room 538 of the Dirksen Senate Office Building and via webcast. The witnesses are Ivory Mathews with Columbia […]