News

The Low Income Investment Fund (LIIF) is a Community Development Financial Institution (CDFI) that provides financing to support affordable housing, with a focus on serving low-income and underserved communities.

Affordable housing developers are under pressure to meet soaring demand for multifamily rental units amid rising interest rates and the escalating costs of construction.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released a revised Community Development Financial Institution (CDFI) Certification Application FAQs document and recorded webinars.  

The recent changes to the HUD Rental Assistance Demonstration (RAD) program offer several potential benefits and implications for non-PHA (private owner) developers who wish to leverage the program for affordable housing initiatives.

The Federal Housing Finance Agency‘s (FHFA) recent guidance on the Federal Home Loan Banks (FHLBanks) Affordable Housing Program (AHP), outlined in Advisory Bulletin 2024-05, introduces changes beneficial to developers of affordable multifamily rental projects.  

Many banks offer predevelopment loans through their community lending programs, especially if the project qualifies for Community Reinvestment Act (CRA) credits.

Oregon Housing and Community Services Announces Public Comment and Meeting Invitations for Proposed Rulemaking 

Minnesota Housing Housing Finance Agency’s announced reporting requirements for state-level prevailing wage statutes amended during the state’s 2023 and 2024 legislative sessions.

A recently released technical information release (TIR) from the Massachusetts Department of Revenue describes provisions in the state’s Affordable Homes Act (H.B. 4977), including changes in the State Historic Tax Credit and the introduction of the qualified conversion credit for converting commercial property into residential housing.

Connecticut Housing Finance Authority (CHFA) announced its brand-new program: Housing Authority Resident Program (HARP).

In a major boost for affordable housing, the LIHTC per-capita multiplier has reached $3 per person for the first time, while the Private Activity Bond (PAB) per-capita multiplier is set at $130 per person for 2025.

NH&RA’s HOPE VI/Mixed-Finance Working Group, a council formed to find preservation solutions to a portfolio of severely distressed properties, submitted recommendations to HUD last week for criteria it should consider in determining whether a property is eligible for a Section 18 repositioning.