COVID-19

The Centers for Disease Control and Prevention (CDC) extended its eviction moratorium through March 31, 2021. In his American Rescue Plan, President Joe Biden calls on Congress to extend its current eviction moratorium, which expires on January 31, 2021, through September 30, 2021.

President Joe Biden recently unveiled his COVID-19 and economic recovery plan. Of interest to our members, the sweeping $1.9 trillion plan calls for another round of $1,400 stimulus payments to individuals, an eviction moratorium on federal guaranteed mortgages until September 30, 2021, an additional $30 billion for rental assistance ($5 billion of which is dedicated to home energy and water costs and arrears), $5 billion in emergency assistance to help secure housing for people experiencing or at risk of homelessness.

Internal Revenue Service Notice 2021-12 extends the temporary relief for qualified LIHTC projects. The 10 percent test for carryover allocations and the 24-month minimum rehabilitation expenditure period are extended until September 30. The deadline for income recertifications and compliance monitoring is extended until October 1 and the placed-in-service deadline is extended to December 31.

The Department of the Treasury released FAQs for the new $25 billion emergency rental assistance (ERA), which: requires applicants for assistance to provide third-party source documentation evidencing income and their experience of unemployment or financial hardship due directly or indirectly to COVID-19; clarifies that applicants who occupy a federally-subsidized or mixed-use property, including LIHTC properties, […]

The Department of the Treasury released guidance on its new $25 billion Emergency Rental Assistance (ERA) program. Eligible grantees (states and local governments with populations of more than 200,000) will have until January 12 to provide payment information and sign the acceptance of award terms in order to receive the money by January 26. Eligible […]

On December 27, the president signed the Consolidated Appropriations Act, 2021, making the four percent LIHTC rate permanently fixed and providing $25 billion of rental assistance. Our detailed summary of the bill is available.

The Low Income Investment Fund (LIIF) said it has launched a $20 million COVID-19 LIHTC Developer Fee Bridge Initiative to support affordable housing developers facing liquidity challenges in the wake of the Coronavirus pandemic and ensuing recession. LIIF said in a press release that with a guarantee from the Community Investment Guarantee Pool (CIGP), the flexible capital would be available to fill gaps created when fees are stalled in phases of LIHTC development.

The $748 billion aid package is widely seen as the one that will advance; it contains $25 billion in rental assistance and extends the CDC eviction moratorium through January 31, 2020. Any one individual household is eligible to receive up to 18 months of assistance for arrearages and future rent payments. Importantly, landlords and owners may apply on behalf of tenants. Thank you to the many NH&RA members that contributed to the development of the NH&RA’s COVID-19 housing assistance advocacy letter, several of the asks in that letter are included in the legislative text!

Florida Housing extended its deadline for submitting Coronavirus Relief Fund (CRF) Subsidy Request Reports to December 18.

In response to recent HUD guidance, the Compliance Division of the Texas Department of Housing and Community Affairs (TDHCA) posted updated guidance related to COVID-19. TDHCA also posted the draft 2021 Initial Ceiling Summary in preparation for the 2021 nine percent LIHTC application cycle.

The Wisconsin Housing and Economic Development Authority (WHEDA) is extending the deadline for 2021 LIHTC applications to provide additional flexibility and support for affordable housing developers navigating technology changes and COVID challenges.

A new report from the Joint Center for Housing Studies of Harvard University (JCHS) presents results from a survey conducted between June 23 and July 17, 2020 to explore the experiences of service coordinators during the early months of COVID-19.