The NCSHA Policy and Government Affairs team provides ongoing 2018 midterm election analysis.
Fund managers aiming to raise capital through the Opportunity Zone (OZ) tax incentive enacted last year are heavily focused on commercial real estate in larger urban areas, according to a new analysis by the National Council of State Housing Agencies (NCSHA).
The National Council of State Housing Agencies (NCSHA) released the Opportunity Zone Fund Directory. This new online resource provides descriptions and contact information for publicly-announced Opportunity Funds that have been formed for the purpose of attracting investment in Opportunity Zones.
NCSHA released a significantly expanded second edition of its Opportunity Zone Fund Directory today, including details on 34 Qualified Opportunity Funds (QOFs) formed to attract Opportunity Zone investment. Opportunity Zones are a new community development tool authorized in the Tax Cuts and Jobs Act of 2017 to encourage investment in designated high-poverty neighborhoods.
On November 6, the Federal Housing Finance Agency (FHFA) released its 2019 multifamily lending caps for the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac. Each of the firms’ multifamily business will be capped at $35 billion next year, mirroring allocations to each GSE in 2018.
Freddie Mac has published three additional white pages in its “Duty-to-Serve” series, designed to examine efforts to encourage housing affordability and increase rental and homeownership opportunities in underserved markets. The papers address Housing Credit incentives, affordable housing in high-opportunity areas, and mixed-income housing in areas of concentrated poverty.
The Iowa Finance Authority Board of Directors today approved a $360,000 low-interest loan to the City of Garner for the construction of twelve new workforce rental townhomes. The award was made through the Workforce Housing Loan program, which provides financial assistance in the form of low-cost repayable loans to cities and counties.
The Iowa Finance Authority Board of Directors today awarded $100,000 to Habitat for Humanity of Iowa to support the creation of a new statewide mobile disaster response team. The team’s efforts will first be focused on assisting with home damage caused by the July 19, 2018 tornado in Marshalltown.
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) has invited hospitals statewide to participate in a $12 million innovative partnership program promoting investment in affordable and supportive housing in their communities.