News
Freddie Mac Requires Multifamily Underwriting Appraisal Checklist
Effective March 4, Freddie Mac underwriters requires a new compliance checklist for the initial appraisal submitted to Freddie Mac for each loan/property.
HUD Publishes Budget Based Rent Adjustments for Mark-to-Market (M2M) Properties Notice, Training March 12
HUD’s Office of Multifamily Housing Programs published Housing Notice 2024-05, which allows budget-based rent adjustments (BBRA) for Section 8 project-based rental assistance housing assistance payment contracts at properties subject to a M2M Use Agreement.
Biden-Harris Administration Extends FFB Risk-Sharing Program Indefinitely
The Biden-Harris administration announced new actions to boost housing supply and lower housing costs, including an indefinite expansion of the Federal Financing Bank (FFB) Risk-Sharing program.
NLIHC Publishes 2024 Advocates’ Guide
The National Low Income Housing Coalition released the Advocates’ Guide 2024: A Primer on Federal Affordable Housing and Community Development Programs and Policies.
120 Organizations Join Letter to Senate; Continue Advocacy Needed
NH&RA joined with 120 national and state affordable housing organizations in a letter to Senate leadership, urging the Senate to enact the LIHTC provisions included in the legislation.
HUD Updates Discretionary Policies for Owners Implementing HOTMA
HUD published a revised HOTMA Implementation Notice (Notice H 2023-10) that now includes information to address the asset limitation found in Section 104 of the Housing Opportunity Through Modernization Act of 2016.
Housing Colorado Eagle Award Nominations Due March 8
Housing Colorado’s Eagle Awardees will be honored at an Awards Ceremony on May 30.
Nominations for Novogradac’s Journal of Tax Credit Awards Due March 1
The 2024 Novogradac Journal of Tax Credits Awards recognize excellence in affordable housing, historic preservation and community development.
IRS Issues Updated Guidance for Form 8823
The Internal Revenue Service (IRS) issued updated guidance for completing Form 8823, the form used by State and Local LIHTC agencies to notify the IRS in the event of noncompliance or building disposition.
House Approves Tax Package with LIHTC Priorities, Advocacy Needed in the Senate
Last week, the House of Representatives voted overwhelmingly (357-70) to pass The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024).
SAHF’s Carbon Roadmap Updates Includes New Features to Support Decarbonization Implementation
Stewards of Affordable Housing for the Future (SAHF) updated its Multifamily Portfolio Carbon Emissions Roadmap, which allows portfolio owners to create action plans to reduce their annual greenhouse gas (GHG) emissions in CO2 equivalent.
IRS Provides Guidance on Returned Disaster Housing Credit Authority
The Internal Revenue Service (IRS) published Revenue Ruling 2024-5, which provides guidance on the treatment of returned disaster Housing Credits for the 11 states and Puerto Rico that received disaster credit authority in the Taxpayer Certainty and Disaster Tax Relief Act of 2020.