NCSHA COVID-19 Blogs, News, and Resources
The most recent NCSHA blogs, news, resources, statements, and talking points for HFAs are available below. For a curated compilation of COVID-19 information, guidelines, and notices published by state HFAs, the Administration, HUD, and other federal agencies, please visit the COVID-19 Resources and Updates Center.
This January 25, 2021, letter details the recommendations NCSHA made to the Treasury Department for guidance related to the $25 billion Emergency Rental Assistance program.
There are two reasons why low-income homeowners need emergency relief in addition to more mortgage forbearance, which FHFA and FHA recently extended through the end of February and March,...
Biden Administration Authorizes Extension of Federal Housing Administration Single Family Foreclosure and Eviction Moratorium
WASHINGTON - Yesterday, the Biden Administration requested the U.S. Department of Housing and Urban Development and other Federal Agencies to extend its foreclosure and eviction moratorium for...
On January 21, 2021, NCSHA joined a broad coalition of organizations representing the affordable housing industry in a letter to President Biden and the Departments of the Treasury, Housing and Urban Development, and Agriculture expressing unified support for the $25 billion Housing Assistance Fund to be included in the American Rescue Plan to help homeowners negatively impacted by COVID-19 pandemic.
This notice extends the relief provided by IRS Notice 2020-39 and provides additional relief for Qualified Opportunity Funds and their investors in response to the COVID-19 pandemic. Notice 2021-10 specifically provides relief from the 180-day Opportunity Zone investment requirement, the 30-month substantial improvement period, the 90 percent investment standard, the 12-month reinvestment period for Opportunity Funds, and other program requirements.
Treasury Guidance on Emergency Rental Assistance Requires Third-Party Documentation of Income, Hardship
Today, the U.S. Department of the Treasury published a Frequently Asked Questions document providing guidance on the $25 billion Emergency Rental Assistance program enacted under the Consolidated Appropriations Act of 2021. Despite the seemingly unanimous urging of NCSHA and other organizations representing both grantees and low-income households, Treasury is requiring 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.
This FAQ document provides guidance regarding the Emergency Rental Assistance program enacted in the Consolidated Appropriations Act of 2021.
On January 15, the Internal Revenue Service (IRS) issued Notice 2021-12 which extends all COVID-19 relief measures originally provided under Notice 2020-53 and provides further relief not included in that original COVID-19 relief notice. The deadline extensions and waivers provided under Notice 2020-53 expired at the end of 2020.
On January 15, IRS issued Notice 2021-12 providing temporary relief to state Housing Credit allocating agencies, owners, and residents of Housing Credit properties in response to the COVID-19 pandemic. Notice 2021-12 extends the deadlines and waivers originally provided by IRS under Notice 2020-53 and expands relief measures to include additional relief not previously provided by the Service. This matrix compares the accommodations IRS provides in Notice 2021-12 to recommendations for COVID-19 guidance that NCSHA sent to IRS in a November 16 letter and to existing disaster relief IRS provides under Revenue Procedures 2014-49 and 2014-50, which are applicable in cases of a presidentially-declared major disaster.
This notice extends and expands temporary relief from certain requirements under Section 42 of the Internal Revenue Code for Housing Credit properties in response to the ongoing coronavirus pandemic.
The Treasury Department apparently is about to decide how much documentation millions of desperate low-income renters will have to show states and cities to be eligible for aid under the new...
President-Elect Releases COVID-19 Response Plan with Additional Housing Assistance, Foreclosure Prevention
President-elect Joe Biden announced his American Rescue Plan, an ambitious $1.9 trillion COVID-19 recovery platform including a national vaccination program, assistance to households, and other supports for communities struggling due to the pandemic. The announcement today includes proposals that are part of the first step in what will be a two-step plan. The second step will be an economic recovery plan focused on job creation, combating the climate crisis, and building “back better than before.”