News
Secretary Fudge to Retire on March 22
HUD Secretary Marcia Fudge announced her retirement and resignation from the position of Secretary of HUD, effective March 22, 2024.
DOE Publishes Rebate/LIHTC Case Study
The Department of Energy (DOE) published a new case study on Using Whole Home Energy Rebates to Preserve Affordable Multifamily.
Biden-Harris Administration Releases FY 2025 Budget Request; Housing Featured in State of the Union
Earlier this week, the Biden-Harris administration released its Fiscal Year (FY) 2025 budget request, which serves as a marker for policy priorities, especially during a presidential election year.
FHFA Hosts Multifamily Insurance Symposium – Today, March 13; Treasury Department Announces Collaboration with Regulators Studying Insurance Cost Impact
The Federal Housing Finance Agency (FHFA) is holding a Multifamily Insurance Symposium from 10 a.m. to 4 p.m. ET today, March 13.
Treasury Modifies SLFRF, ERA Rules to Amplify Housing Production
The Treasury Department announced updated guidance for the State and Local Fiscal Recovery Fund (SLFRF) and the Emergency Rental Assistance (ERA2) programs, which make it easier for states and local governments to use these programs to build and preserve affordable housing.
Tax Court Rules on Including Construction Period Finance Costs in LIHTC Basis
In the 23rd Chelsea Associates case, the U.S. Tax Court ruled that an appropriate share of finance costs attributable to the construction period of the affordable housing part of a project can be included in tax credit basis.
Appropriations Update
The House will vote on six of the 12 Fiscal Year (FY) 2024 bills today.
FHFA Announces $301 Million for CMF & NHTF
The Federal Housing Finance Agency (FHFA) announced that the Housing Trust Fund and Capital Magnet Fund will receive approximately $301 million for affordable housing initiatives from Fannie Mae and Freddie Mac (the Enterprises).
Proposals for HUD’s Innovative Housing Showcase Exhibitors Due March 29
HUD issued a notice requesting proposals from exhibitors to showcase innovations for the Innovative Housing Showcase in June of this year in Washington, DC.
HUD Extends Deadline to Update Tenant Selections Plans
HUD issued Notice H 2024–04 extending the updated Tenant Selection Plans to include HOTMA provisions from March 31, 2024 to May 31, 2024.
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.
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.