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NCSHA Washington Report | August 20, 2021
Just two months in as acting director of the Federal Housing Finance Agency, Sandra Thompson is exerting leadership that represents real change at the powerful regulator. Thompson’s...
North Country Housing Needs Analysis Offers Insight into Community’s Housing Needs and Impact on Local Employment and Economy
New Hampshire’s bucolic North Country is far from the metro feel of the southern tier of the state. Yet despite the striking contrast in landscape, population and economic activity, according to a new analysis the two regions have much in common when it comes to housing needs and availability. Housing inventories in the state are at record lows, prices are escalating, and there is a dearth of affordable rental units and homes for purchase. Yet there are characteristics of the North Country’s housing market that distinguish the region.
Financing to Create and Preserve 1,000 Units of Rental Housing Approved by New Hampshire Housing Board in FY21
To help meet the critical need to build and preserve affordable rental housing for our state’s workforce and other residents, funding for 16 affordable multi-family rental housing developments was approved by the New Hampshire Housing Board of Directors during the fiscal year ending June 30, 2021 (FY21). The allocation of Low-Income Housing Tax Credits (LIHTC) and other federal and state funding to these projects will produce or preserve almost 1,000 units of affordable rental housing in the state’s communities.
Finance Committee Chairman Wyden Introduces Sweeping Affordable Housing Legislation
Senate Finance Committee Chairman Ron Wyden (D-OR) today released the Decent, Affordable, Safe Housing for All Act (DASH Act), which would make substantial investments in affordable housing, addressing both supply and demand needs, with the goal of ending homelessness. This comprehensive bill — which includes both tax and spending measures — seeks to ensure all families with children experiencing homelessness are able to receive a voucher within the next five years; expands health, child care, financial, and nutrition services for families and individuals; increases the production of affordable housing; and invests in homeownership in underserved communities. The production provisions in the bill would result in more than three million additional homes.
WHEDA Awards National Housing Trust Funds
Three projects that will provide housing to extremely low-income elderly and disabled residents have been awarded a total of $1.3 million in National Housing Trust Fund financing by the Wisconsin Housing and Economic Development Authority (WHEDA). The projects, in Madison, McFarland and Fond du Lac, previously received state and federal 4% housing tax credits administered by WHEDA.
Maryland Department of Housing and Community Development Announces Launch of Emergency Rental Assistance Data Dashboard
The Maryland Department of Housing and Community Development today announced the launch of the Emergency Rental Assistance Data Dashboard to track the progress local jurisdictions are making in distributing relief funds for tenants and landlords affected by the COVID-19 pandemic. The dashboard focuses on the first round of funding through the federal Emergency Rental Assistance Program, which launched statewide in Maryland in mid-May 2021.
Illinois Rental Payment Program Provides Over $209 Million to Renters and Landlords Impacted By COVID-19
Governor JB Pritzker, along with the Illinois Housing Development Authority (IHDA) and the Illinois Department of Human Services (IDHS), announced that more than $209 million in rental assistance has been paid on behalf of 26,300 renter households impacted by COVID-19. With over 40% of the $500 million in available funds committed to being paid, Illinois is ramping up its distribution of assistance through the Illinois Rental Payment Program (ILRPP) and was the second highest provider of rental assistance among all states in June.
NCSHA Washington Report | August 13, 2021
An avalanche of missed payments that buries borrowers of color deepest. A burdensome legacy of debt that denies affordable housing opportunity. An expensive policy problem that divides Democrats...
NCSHA Urges IRS and Treasury to Extend Housing Credit COVID-19 Relief
On August 13, NCSHA sent the Internal Revenue Service (IRS) and U.S. Department of the Treasury (Treasury) a letter urging them to extend certain temporary Housing Credit relief provisions in IRS Notice 2021-12 in light of the continuing disruption the COVID-19 pandemic is having on development and construction activities and the ongoing operation of Housing Credit properties.
DCHFA Finances 41 New Affordable Apartments in Congress Heights
On August 6, the District of Columbia Housing Finance Agency (DCHFA) issued $10.3 million in tax-exempt bond financing and underwrote $8.9 million in four percent Low-Income Housing Tax Credits for the construction of 41 new affordable rental homes at 17 Mississippi Avenue Apartments. “Congress Heights has become one of Ward 8’s most sought after neighborhoods for commercial development and homebuyers. As development and home values increase, DCHFA’s investment helps to ensure that residents at all income levels will be able afford to live here and enjoy the neighborhood’s growth.”
Kansas Housing Awards $6.8 Million to Support Affordable Housing Development
Twelve Kansas communities will add a collected 540 affordable homes to their housing stock, thanks to funds awarded through the state’s competitive housing development application process. The awards, totaling $6,806,417, will help finance the construction of 324 new homes and the rehabilitation of 216 existing homes for Kansas seniors and families. “Our state has long experienced a shortage of quality, affordable housing—a reality that has only been exacerbated by the COVID pandemic,” said Ryan Vincent, Kansas Housing’s Executive Director.
Senate Democrats’ Budget Resolution Calls for Historic New Investments in Affordable Housing
Senate Majority Leader Chuck Schumer (D-NY) Monday morning released the text of an agreement Senate Democrats reached on a proposed Budget Resolution for fiscal year (FY) 2022. This legislation would authorize $3.5 trillion in new federal spending for a variety of purposes, including affordable housing. Schumer also released a memorandum sent to Senate Democrats which calls for increased spending on some federal housing programs, including HOME, the Housing Trust Fund, and housing tax incentives, to be included among the investments.
