News

Several civil rights organizations have filed a lawsuit in federal court challenging HUD’s decision to suspend the implementation of the Small Area Fair Market Rent rule, which was adopted in November 2016 and suspended earlier this year.  It is unclear at this juncture how the case will proceed. Five organizations – the NAACP Legal Defense […]

Representative Pat Tiberi (R-OH-12), the lead Republican sponsor on the House version of the Affordable Housing Credit Improvement Act (H.R. 1661) and a longtime champion of the Housing Credit, announced last week that he will leave Congress no later than January 31, 2018, nearly a year before his term ends. NH&RA thanks Rep. Tiberi for […]

The National Park Services has published its “Annual Report on the Economic Impact of the Federal Historic Tax Credit for Fiscal Year 2016.”  The report, which is produced by Rutgers University with assistance from the National Trust Community Investment Corporation—provides a quantitative analysis of the success of the federal historic tax credit (HTC). Key findings […]

HUD has issued a notice that permits Public Housing Authorities (PHAs) that are in Presidentially declared disaster areas to request an extension to the due date for making submissions if they meet either of the following qualifications: a) have submitted Letters of Interest (LOI) to reserve their position on the Rental Assistance Demonstration (RAD) waiting […]

The House Financial Services Subcommittee on Housing & Insurance will host a hearing entitled “Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform” on Wednesday, October 25, 2017.  The witness List includes: Mr. Kevin Chavers, Managing Director, BlackRock, on behalf of the Securities Industry and Financial Markets Association (SIFMA) Ms. Brenda K. Hughes, Senior Vice […]

The bill would incentivize coordination amongst housing authorities, school districts, and community organizations to improve educational and housing outcomes for children.

CohnReznick recently released the sixth installment of an ongoing report, Housing Tax Credit Investments: High Performance and Increased Need. The report surveys a portfolio of over 22,000 LIHTC properties and the numbers this year show the best performance recorded over the 31 year history of the LIHTC program.

HUD recently published a notice in the Federal Register that establishes an expedited process for reviewing requests for relief from HUD regulatory/administrative requirements for PHAs located in Texas, U.S. Virgin Islands, Puerto Rico, Florida, and Georgia. The expedited process will also apply to future Major Disaster Declarations for the remainder of 2017.

The Successful Stewardship of Multifamily Housing Recapitalization Workbook is designed to support the exploration and decision-making that owners will undertake to preserve their properties. 

For mixed-finance projects, it can be difficult to refinance a property prior to the expiration of the tax credit compliance period. With this in mind, HUD’s Office of Recapitalization has adopted alternative underwriting criteria for these properties.

The House this week began debate over its fiscal 2018 budget resolution. While Tax Reform is a large task for Congress to take on, passing a concurrent resolution over the next month will be a critical first step in making tax reform more plausible for the coming year.

As anticipated, Republican leadership released a tax reform framework intended to guide House and Senate tax writing committees in their drafting of tax reform legislation. The framework does not explicitly preserve the historic tax credit and envisions that most business tax credits will be repealed in order to achieve a 20% corporate tax rate.