News
Evanston, IL First in Country to Offer Reparations Program for Black Residents
The 8-to-1 vote will initially make $400,000 available in $25,000 homeownership and improvement grants, as well as in mortgage assistance for Black residents, primarily those can show they are direct descendants of individuals who lived in the city between 1919 and 1969 and suffered from such discrimination.
Group of 2,300 Organizations Urge Evection Moratorium Extension
A group of 2,272 associations, organizations and elected officials sent a letter to President Joe Biden, HUD Secretary Marcia Fudge and Centers for Disease Control Director Rochelle Walensky urging improving and extending the current CDC eviction moratorium through “the end of the pandemic.”
NH&RA Joins Groups Asking for Commerce Dep’t. Review of Lumber Prices
National Housing & Rehabilitation Association joined more than 30 organizations in a letter to Commerce Secretary Gina Raimondo calling for a review and remedies for lumber prices that have nearly tripled in the past year.
Evictions Down, But Not All Renters Are Taking Advantage of Moratoriums, GAO Says
Eviction moratoriums at the federal, state and local level have helped reduce eviction filings, but some eligible renters may not be aware of programs and further outreach is needed, according to a Government Accountability Office (GAO) report issued March 15.
NPS Publishes Annual Historic Tax Credit Report for 2020
On March 9 the National Park Service published its FY-2020 Annual Report for the Historic Tax Credit Program. Last fiscal year, the NPS processed 989 Certifications of completed work (Part 3) resulting in an estimated $6.54 billion in rehabilitation costs.
IRS Posts Population Figures Used to Calculate LIHTC, PAB Cap
On March 15, 2021, the IRS published Notice 2021-19, which advises state a local housing credit agencies and issuers of private activity bonds of the state population figures that are used to calculate the annual state allocation for the 9% LIHTC as well as the state’s private activity bond cap.
Congress Advances $1.9 Trillion COVID Package
Over the weekend, the Senate passed the American Rescue Plan Act of 2021 (H.R. 1319) and the House today approved the amended version 220-211. A spokeswoman for President Joe Biden said he is expected to sign the bill on Friday.
District Judge Rules CDC Eviction Moratorium Unconstitutional, DOJ Appeals
On February 25, 2021, U.S. District Judge J. Campbell Barker issued a ruling in Terkel v. Centers for Disease Control & Prevention (CDC) that declares the CDC eviction moratorium unconstitutional.
Fudge Confirmed as HUD Secretary
This morning the Senate voted 66-34 to confirm Representative Marcia Fudge (D-OH) as secretary of HUD. NH&RA supported Secretary Fudge’s nomination and looks forward to working with her!
FHFA Extends COVID-19 Forbearance through June 30
The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will offer COVID-19 forbearance to qualifying multifamily property owners through June 30.
FHFA Authorizes More than $1 Billion to NHTF, CMF
The Federal Housing Finance Agency (FHFA) announced the authorization of more than $1 billion in affordable housing allocations to Fannie Mae and Freddie Mac, the largest disbursement in history. HUD’s National Housing Trust Fund (NHTF) will receive $711 million and the Department of the Treasury’s Capital Magnet Fund (CMF) will receive $383 million.
U.S. District Court Rules ROFR Not Triggered
The U.S. District Court for the Eastern District of Michigan released a new opinion in the matter of SunAmerica Housing Fund 1050 v. Pathway of Pontiac Inc. et al. The court ruled that, in the absence of language otherwise, the right of first refusal (ROFR) was a classic ROFR under Michigan law and common law, requiring intent on the part of the LIHTC partnership to sell its property interest.