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NCSHA Washington Report | November 8, 2019

With daylight saving time in effect, we’re missing the late afternoon light on the East Coast and thinking a little more about the sun. On the West Coast, in California, most everyone...

IRS Releases 2020 Housing Credit and Private Activity Bond Volume Cap Levels

Today, the Internal Revenue Service published Rev. Proc 2019-44, which provides the per capita and small state minimum levels for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PAB).  In 2020, states will receive the greater of $2.81 per capita or $3,217,500 in Housing Credit authority, slight increases over the 2019 Housing Credit authority levels of $2.76 per capita or $3,166,875.  The per capita PAB volume cap will be $105 per capita, the same amount as in 2019, but the small state minimum for PAB volume cap will increase to $321,775,000 from $316,745,000.

Ormand Elected President of the National Conference of State Housing Boards

Columbia, SC attorney and South Carolina State Housing Finance and Development Authority (SC Housing) Commissioner Kenneth E. Ormand, Jr. has been elected President of the National Conference of State Housing Boards (NCSHB). NCSHB provides educational and training opportunities for state housing finance authority board members to help them govern their agencies most effectively.

NCSHA Recommends Improvements to IRS Housing Credit Disaster Relief Guidance (Notice 2019-52)

On October 31, NCSHA sent comments to IRS on how it can improve Low Income Housing Tax Credit (Housing Credit) disaster relief guidance provided in Revenue Procedures 2014-49 and 2014-50.

Treasury and IRS Announce Proposed New Tax Form to Collect Opportunity Zone Fund Data

Washington – The United States Department of the Treasury and the Internal Revenue Service (IRS) today released a proposed Form 8996 for Qualified Opportunity Funds (QOFs) for the 2019 tax year....

NJHMFA Financing to Continue Sandy Repairs at Hoboken Public Housing Buildings

Five Hoboken public housing complexes heavily damaged in Superstorm Sandy will receive $12.8 million in financing from the New Jersey Housing and Mortgage Finance Agency (NJHMFA) to continue needed repairs, improve housing for residents and make the buildings more resilient against future storms. The buildings, which are vulnerable to flooding, are owned by the Hoboken Housing Authority (HHA) and provide over 1,150 affordable apartments for families and seniors.

NCSHA Washington Report | November 1, 2019

Housing industry analyst John McManus predicts that, within a few years, at least three of the top 10 home-building companies will have a business model aimed at the affordability crisis and at...

HUD Awards $1.5 Million to Public Housing Authorities to Assist Young People Aging Out of Foster Care

WASHINGTON - U.S. Housing and Urban Development (HUD) Secretary Ben Carson today awarded $1.5 million to nearly a dozen housing authorities to assist young people aging out of foster care and who are...

CalHFA’s Tia Boatman Patterson Elected NCSHA Board Chair for Second Term

Following her successful first year as Chair of the Board of Directors of the National Council of State Housing Agencies (NCSHA), California Housing Finance Agency (CalHFA) Executive Director Tia Boatman Patterson was reelected to the Board leadership role at the organization’s Annual Conference last week. Boatman Patterson has been an active participant in NCSHA since she was appointed to lead CalHFA in 2014.

Brookline Affordable Housing Community for Senior Citizens and Residents with Disabilities Will See Extensive Renovations and the Extension of Affordability with the Closing of $25 Million in MassHousing Financing

MassHousing has provided $25 million in financing to the Brookline Housing Authority (BHA) to provide significant improvements to the 100-unit Arthur O’Shea House located at 61 Park Street in Coolidge Corner. The MassHousing financing will allow the BHA to make comprehensive renovations to the property, which is home to lower-income senior citizens and residents with disabilities, and to help ensure affordability at the property in perpetuity.

FHFA Reports GSEs Met 2018 Affordable Housing Goals and Duty-to-Serve Requirements

According to a report released today by the Federal Housing Finance Agency (FHFA), the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac in 2018 met all their affordable housing goals and their obligations under the Enterprise Duty-to-Serve Rule. The report, which FHFA submits to Congress each year, summarizes the GSEs’ 2018 affordable housing activities.

NCSHA Announces Newly-Elected Board Officers and Directors

PHOTO, L to R: Vice Chair Scott Spivey, Immediate Past Chair Grant S. Whitaker, NCSHA Executive Director Stockton Williams, Secretary/Treasurer Margaret Salazar, Chair Tia Boatman Patterson, and...