News

The ULI Terwilliger Center for Housing, in collaboration with RCLCO Real Estate Advisors, released a report looking at the changing demand dynamics for family rental housing, development typologies that are responding to this demand and barriers to family rental housing development. The report points out that renter families tend to have as many children as homeowners. And while renter families tend to require just as much space as families who own their homes, most new rental housing units are much smaller than similarly aged for-sale housing units

The California Housing Partnership published the 2020 Housing Need Reports for all of California’s 58 counties. The reports document the gap in affordable homes versus need and looks at costs that the lowest income renters face statewide and at the county-level. The reports make several statewide policy recommendations, including making permanent the $500 million annual […]

Senate Finance Committee Ranking Member Ron Wyden (D-OR) recently released an outline of affordable housing priorities he will pursue in the next Coronavirus response bill. The six priorities are focused on preserving and expanding affordable housing and, in particular, on supporting LIHTC properties.

The ACTION Campaign developed a fact sheet showing the nationwide impact of the four percent LIHTC, as well as state-specific fact sheets for 21 states and the District of Columbia, which would most benefit from a minimum four percent LIHTC rate.

Sixty-seven mayors representing communities across 28 states and the District of Columbia, joined a letter urging Congress to include provisions that support the LIHTC in the next Coronavirus response package.

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened the fiscal year (FY) 2020 funding round for the Capital Magnet Fund. The application process consists of two parts: submitting the SF-424 Mandatory form through Grants.gov and submitting the rest of the application through the CDFI Fund’s Awards Management Information System (AMIS). 

The National Low Income Housing Coalition (NLIHC) and the Public and Affordable Housing Research Corporation (PAHRC) released a new report, 2020 Picture of Preservation, which estimates that nearly 300,000 may be lost from the nation’s affordable stock in the next five years.

The Internal Revenue Service issued Notice 2020-41 to extend the continuity safe harbor for renewable energy production tax credit (PTC) and investment tax credit (ITC) properties that began construction in 2016 or 2017. The notice adds an extra year to the four-year continuity safe harbor in existing guidance, stating that those projects placed in service within five years will be deemed continuous.

Today the Office of the Comptroller of the Currency (OCC) released its final rule on Community Reinvestment Act (CRA) Regulations and a non-exhaustive list of CRA activities. The Federal Deposit Insurance Corporation (FDIC) declined to join today’s final rule saying in a statement, “While the FDIC strongly supports the efforts to make the CRA rules clearer, more transparent, and less subjective, the agency is not prepared to finalize the CRA proposal at this time.

The National Council of State Housing Agencies and Novogradac released a report examining the impact of lowering the 50 percent test for four percent LIHTC and tax-exempt bond financed properties and found that a lowered test could result in the financing of between 177,665 and 1,421,320 affordable homes over the next ten years.

Governor Gavin Newsom released a revised state budget for California, which maintains earlier commitments to funding $500 million in State LIHTCs in 2021. The proposal also includes $750 million in federal Coronavirus Relief Funds to acquire hotels and motels so that homeless individuals temporarily sheltered through Project Roomkey will have a place to live after […]

South Carolina enacted the Workforce and Senior Affordable Housing Act when House Bill 3998 was signed into law by Governor Henry McMaster (R) on May 14, 2020. The legislation allows for the allocation of state credits matching the federal credit allocation on both nine and four percent deals for deals placed in service between January […]