News

The President’s proposed FY-2017 budget shows support for several of the key tax credit, HUD, and rural development programs that spur the development of affordable housing by private developers.

CDFIs and qualified non-profits can use Capital Magnet Fund awards to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees.

The new MAP Guide delegates more underwriting responsibility to approved “MAP lenders” and includes all relevant guidance published by FHA since the MAP Guide was last updated in 2011.

Funds are available to CDFIs and qualified non-profit organizations. Capital Magnet Fund awardees are able to utilize funds to create financing tools such as loan loss reserves, revolving loan funds, risk-sharing loans, and loan guarantees. Applications are due March 16.

HUD is proposing to reduce 2016 FHA Mortgage Insurance Premiums for affordable housing and green and energy efficient housing. HUD is accepting comments on the proposal through February 29. The changes would go into effect April 1.

The CDFI Fund received 238 applications for New Markets Tax Credit allocations from 43 states, the District of Columbia, Puerto Rico, and Guam. The CDEs requested more than 5 times the available authority of $3.5 billion.

Funding made available under this NOFA must be used to fund supportive services in eligible existing HUD-assisted multifamily developments targeted to elderly households. Applications are due no later than Monday, April 18, 2016.

HUD released answers to frequently asked questions regarding the Pay for Success Permanent Supportive Housing Demonstration. The demonstration aims to develop a model for a population continuously cycling between the criminal justice system and homeless services.

On Tuesday, January 5, HUD hosted a listening session focused on fair housing standards related to HUD’s Rental Assistance Demonstration program. Before attending the session, NH&RA Executive Director worked with our RAD User Group to compile feedback for HUD officials. During the session, developers, public housing authorities, and fair housing advocates provided comments to senior and program leadership from HUD offices involved in public housing, multifamily housing and fair housing.

Local governments and their partners who receive CDBG, HOME, ESG, or HOPWA formula funding from HUD will use the AFFH Assessment Tool.

The volume presents certain federal and state tax incentives promoting the renewable energy and energy efficiency industries. It includes the recent energy tax credit extensions in the 2015 PATH Act and the 2016 Consolidated Appropriations Act. Download

Across the 20,000-project LIHTC portfolio, occupancy, debt coverage ratio, and cash flow has improved and the number of “underperforming” properties has gone down. CohnReznick will hold a webinar to discuss the report on Thursday, January 21 at 1:00pm ET.