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White House Releases $2 Trillion Infrastructure and Jobs Plan
Today, ahead of a speech President Biden will make in Pittsburgh, the White House released the American Jobs Plan, which is intended to rebuild the countryās infrastructure, including building, preserving, and retrofitting more than two million homes along with investments in transportation, clean drinking water, the electric grid and broadband, schools, and Veterans Affairs hospitals; create jobs for and raise the wages of home care workers; and revitalize manufacturing. In each of these areas, the White House looks to accomplish its goals with a focus on addressing racial injustices, climate impacts, and clean energy and infrastructure.
Secretary Fudge Statement on the State of the FHA Mutual Mortgage Insurance Fund
WASHINGTON - Secretary Marcia L. Fudge on Tuesday released the following statement on theĀ quarterly reportĀ to Congress on FHA Single-Family Mutual Mortgage Insurance Fund Programs: HUD has an...
Applicants Sought for Inaugural Michael S. Van Leesten Awards Program
RIHousing is seeking applicants for the agencyās Michael S. Van Leesten Memorial Awards program, an awards program that provides financial assistance to students pursuing a career in the construction trades or a degree related to the housing field through two scholarship opportunities and one summer fellowship. The awards program honors the life and work of Michael S. Van Leesten, a longtime advocate dedicated to improving the lives of Rhode Islanders through his business leadership, civil rights activism, and public service.
Moodyās Upgrades California Housing Finance Agencyās Issuer Rating to Aa3
The California Housing Finance Agencyās continued dedication to financial strength has once again been recognized by Moodyās Investor Service. One of the countryās Big Three credit ratings agencies, Moodyās recently upgraded CalHFAās Issuer rating from A1 to Aa3, with a revised outlook of stable. The upgrades were also made on CalHFAās outstanding Multifamily Housing Revenue Bonds III. āWe have been on a mission over the past several years to put CalHFA in position to create and preserve more and more affordable housing, and our improved financial strength allows us to do just that,ā said Don Cavier, CalHFA's Acting Executive Director.
Amber Hills Named Chair of Colorado Housing and Finance Authorityās Board of Directors
Colorado Housing and Finance Authority (CHFA) is pleased to announce that Amber Hills, president of FirstBankās Southwest Market, has been named chair of CHFAās board of directors. CHFAās 11-member board serves as the governing body of the organization and establishes policies to further its mission of affordable housing and community development. As an industry veteran with over 22 years of experience, Hills oversees FirstBankās Southwest Market, which includes eight branch locations, more than 160 employees, and $2.2 billion in deposits.
NCSHA Testifies at IRS Hearing on Housing Credit Average Income Test
On March 24, the Internal Revenue Service (IRS) convened a public hearing on the Low Income Housing Tax Credit Average Income Test (AIT) proposed regulations published in October of last year. James Tassos, deputy director of tax policy and strategic initiatives, testified on behalf of NCSHA, one of 15 organizations represented at the hearing. Housing Credit allocating agency officials from California, Colorado, Minnesota, Texas, Virginia, and Washington joined NCSHA and numerous industry partners to express significant concerns with the proposed rule.
State Hosting Virtual Information Sessions on Louisianaās Covid-19 Emergency Rental Assistance Program
The Louisiana Housing Corporation and Louisianaās Office of Community Development will co-host a series of virtual information sessions to provide landlords and renters with information about the State of Louisianaās U.S. Treasury Emergency Rental Assistance Program. The program expands upon an earlier program to provide emergency financial assistance to Louisiana renters and landlords experiencing financial hardship as a result of the COVID-19 pandemic and is in addition to emergency rental assistance that was available during the summer of 2020.
CHFA Awards $14.6 Million In Federal Tax Credits for Affordable Housing Development
CHFA today announced the awarding of $14,676,217Ā in Federal 9% Low Income Housing Tax Credits (LIHTC). The tax credits are estimated toĀ generate more than $135 million in equity from private investors for 10 proposed affordable multifamily housing developments in Connecticut. Federal tax credit allocations are based on population, and CHFA generally receives about $10 million in credits each year.Ā āCHFA is focused on bringing more units on line as soon as possible, especially during COVID-19.
PHFA Participates in April Celebration of National Financial Capability Month
PHFA is proud to participate in National Financial Capability Month in April by providing a slate of free, live webinars about personal money management. The webinars will be led by the agencyās senior financial education officer, Holly Zugay, and others on PHFAās financial education team. Zugay is a certified financial planner and has 20 years of experience teaching personal money management concepts.Ā āOne way that we can address inequities in our society is to provide information people can use to build personal wealth,ā said PHFA Executive Director and CEO Robin Wiessmann.
New Hampshire Housing Names 2020 Top Housing Lenders
Lenders and loan originators were recently recognized by NewĀ Hampshire Housing for helping 1,400 homebuyers find affordable homes and loans last year. The awards were given to the lending institutions and loan originators who assisted the most homebuyers through New Hampshire Housing programs in 2020. āOur top lenders and loan originators are vital to supporting affordable housing opportunities for all New Hampshire households,ā noted Ignatius MacLellan, managing director of New Hampshire Housing Finance Authorityās Homeownership Division.
Paint ā South Dakota Campaign Seeking Volunteers
"Paint ā South Dakotaā is underway and South Dakota Housing Development Authority (SDHDA) is seeking volunteer painters and nominations for houses in need of painting. To get involved, an individual or group of people nominate someone in their community whose home is in need of a fresh coat of exterior paint and then pick a Saturday in June to pick up paint brushes and help residents in their communities. The nominated home must be a single family, owner-occupied residence whose owner is physically or financially unable to paint their home themselves.
MassHousing Closes on $1.8 Million in Affordable and Workforce Housing Financing for the Development of the Elias Brookings Apartments in Springfield
MassHousing has closed on $1.8 million in affordable and workforce housing financing to the non-profit Home City Development, Inc., to transform the former Elias Brookings School in Springfield into 42 new apartments for households with a range of incomes. The three-story, masonry, concrete and steel building was used as a public school from 1926 until it was damaged by the 2011 tornado in Springfield.Ā