HFA News
PHFA Applauds Creation of PA Low Income Housing Tax Credit Program
The Pennsylvania Housing Finance Agency applauds the passage of Senate Bill 30 and its signature into law today, creating the Pennsylvania low-income housing tax credit (LIHTC) program. The legislation was written by Senator Tom Killion and received strong bipartisan support in the General Assembly. It will mirror the federal LIHTC program established in 1986. That program allocates tax credits to the states that developers then use to raise capital for the construction of affordable rental housing. In exchange for receiving the tax credits, developers agree to keeps rents affordable for a number of years in the apartments that are built.
Kansas Housing, Office of Rural Prosperity Request Bids for Statewide Housing Needs Assessment
State officials will commission Kansas’ first comprehensive study of housing needs and resources in more than 20 years, Lieutenant Governor Lynn Rogers announced. The state’s Office of Rural Prosperity, in conjunction with Kansas Housing Resources Corporation (KHRC), the state’s housing finance agency, is releasing a Request for Proposal (RFP) soliciting bids from qualified firms to develop, conduct, and deliver the assessment. Kansas has not conducted a major housing study in decades, resulting in a dearth of data on existing housing resources and current and projected needs.
CalHFA’s Mixed-Income Program Wins National Award
California's Mixed-Income Program (MIP), which is administered by the California Housing Finance Agency (CalHFA) as a result of support and collaboration across all sectors of the government from Governor Gavin Newsom's Administration to the Legislature to the State Treasurer's Office, has won a national award for program excellence. The National Council of State Housing Agencies (NCSHA) made the announcement at its annual conference Oct. 27, naming CalHFA's program a 2020 winner in its Rental Housing: Encouraging New Construction category.
WHEDA’s Altoro Elected to Executive Committee of the National Council of State Housing Agencies
Joaquín Altoro, CEO of the Wisconsin Housing and Economic Development Authority, has been elected to serve as the at-large member of the executive committee of the National Council of State Housing Agencies. Altoro, who started a two-year term on NCSHA’s board of directors in 2019, was elected to the executive committee role by the other board members. NCSHA is a nonprofit, nonpartisan organization created to advance the efforts of the nation’s state housing finance authorities and their partners to provide affordable housing to those who need it.
Governor Wolf Announces Investment of Tax Credits in North Philadelphia to Build Transformative Mixed-Use Development
Governor Tom Wolf today announced that Commonwealth Cornerstone Group has completed a New Markets Tax Credit transaction of $16.5 million to help fund construction of a new shopping complex and 98 mixed-income units of rental housing along the 2000-2200 block of Ridge Avenue in North Philadelphia. The 231,000-square-foot commercial shopping complex already has four major tenants lined up to begin business when construction is completed.
Iowa Finance Authority Honored with National Marketing Award
The Iowa Finance Authority was recently honored with a national marketing award from the National Council of State Housing Agencies (NCSHA) for their 2019 annual report, which showcases the positive chain reactions affordable housing creates throughout the state of Iowa. “Housing is a leading driver in Iowa’s economic vitality, community and workforce development and health and educational outcomes,” said Iowa Finance Authority and IEDA Executive Director Debi Durham. “Communicating these success stories is essential, especially as we work to significantly increase housing options for Iowans as we grow our state.”
Housing Agency Awarded Supplemental Counseling Grant
North Dakota Housing Finance Agency (NDHFA) has been awarded a $69,472 Supplemental Comprehensive Housing Counseling Program grant for FY 2020 from the U.S. Department of Housing and Urban Development (HUD). “The HUD grant supports housing counseling services including foreclosure avoidance and rental counseling that are especially important to North Dakotans right now as we work through the personal challenges of the COVID-19 pandemic,” said David Flohr, NDHFA executive director.
Housing Assistance Available for South Dakotans Impacted by COVID-19
South Dakota Housing Development Authority (SDHDA) has been awarded $10 million to assist South Dakotans who have been financially impacted by COVID-19 and need help paying their housing expenses such as rent, mortgage, and/or utilities. The assistance, funded by the State of South Dakota from the Federal Coronavirus Aid, Relief and Economic Security (CARES) Act, can provide South Dakotans with up to $1500 a month.
Rural Affordable Workforce Housing Initiative Moves Forward With Pilot Communities, Supplemental Financing Tools
An effort by the Wisconsin Housing and Economic Development Authority to address the state’s shortage of rural affordable workforce housing is moving forward with the selection of three pilot communities and new financing tools for homebuyers and developers in rural areas. “If Wisconsin is to thrive, access to safe, affordable housing is critical for rural residents, employers and communities,” said Gov. Tony Evers.
