Newsroom
HUD Awards $5.5 Billion in Grants to Local Communities for Affordable Housing and to Serve Individuals and Families
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today announced $5.5 billion in funding to local programs throughout the country that provide affordable housing, community...
Nonprofit Developer and RIHousing Recapitalize Two Senior Affordable Developments in Narragansett
Preservation of Affordable Housing (POAH), a nonprofit affordable housing developer with 12 properties in Rhode Island, has closed on a second stage tax credit recapitalization for two senior communities in Narragansett with the support of tax-exempt bonds issued by RIHousing. The two senior housing communities - South Winds Apartments and Beachwood Apartments - are located a half mile apart, just blocks from the Narragansett sound. The properties comprise 104, one- and two-bedroom apartments that were originally preserved by POAH in 2004.
Congress Expands Access to Affordable Housing
The Congressional omnibus spending bill, passed at the end of December, had several key housing provisions, including emergency rental assistance and an extension of the period to use federal CARES Act funds. One key inclusion was a permanent minimum 4 percent rate for Housing Credit developments, which could offer nearly $7 million in additional funding for affordable housing projects in Vermont the next three years alone. “Our ability to build enough homes to shelter the homeless and provide safe housing for all Vermonters hinges on the supply of capital for affordable housing production.
CHFA Awarded $5.5 Million in Capital Magnet Funds to Support Affordable Housing
CHFA has been awarded a $5.5 million Capital Magnet Fund (CMF) grant to support the development and preservation of affordable rental housing across Colorado. CHFA was selected to receive an award among 48 total recipients nationwide. This is the fourth CMF award that CHFA has received, bringing the total award amount to more than $24.6 million, receiving $6 million in 2020, $6 million in 2019, and $7.1 million in 2018. “The Capital Magnet Fund is a vital resource to help address Colorado’s affordable housing shortage and CHFA is thankful to be awarded a grant for the fourth consecutive year,” said Cris White, executive director and CEO of CHFA.
Hogan Administration Launches New “SpeedSurvey” Website; Announces Progress in Expanding Broadband Access for Students
Governor Hogan today announced significant progress being made by the Governor's Office of Rural Broadband to expand high-speed broadband access for students and to improve data collection of Marylanders' internet speeds, which will be used to direct future funding and projects. "The COVID-19 pandemic has demonstrated that access to high-speed internet is essential for all Marylanders," said Governor Hogan. "My administration has been proactive and continues to build upon our successes to bring broadband to underserved communities including students who need it most."
Governor Hogan Announces $7 Million in Emergency Relief Awards for Main Street Communities
Governor Larry Hogan today announced $7 million in awards for 41 Main Street programs across the state. The funding will support small businesses and other economic recovery efforts in both the state- and Baltimore City-designated Main Street communities. Through this relief, more than 5,000 businesses will be eligible for support from their local Main Street program. "Maryland communities would not be the same without our vibrant, historic Main Streets," said Governor Hogan. "We are proud to support local small businesses and help them recover from the economic toll brought on by the COVID-19 pandemic."
CHFA Begins Issuing Single Family Social Bonds
CHFA has received a social bond designation, which allows the organization to issue bonds to support programs that have a social impact outcome. Specifically, these bonds will support homeownership programs that serve populations experiencing low and moderate incomes, and that align with the Social Bond Principles’ social project categories; affordable housing, access to essential services, and socioeconomic advancement and empowerment.
Treasury’s Revised Emergency Rental Assistance Guidance Addresses Nearly All NCSHA Recommendations
On February 22, the Treasury Department released a revised Frequently Asked Questions (FAQs) document providing guidance to grantees administering the Emergency Rental Assistance (ERA) program established late last year by the Consolidated Appropriations Act of 2021. NCSHA and other housing groups had raised concerns about aspects of a prior Treasury FAQs document released before the current administration took office. In a January 25 letter to Treasury, HUD, and the White House, NCSHA urged Treasury to make modifications to some of the positions taken in the original FAQs and to issue additional guidance in areas not covered by those FAQs. The revised FAQs document is consistent with nearly every recommendation NCSHA made.
Supportive Housing Webinar Series Kicks Off Tuesday 2-23
The free, 90-minute interactive sessions are open to all through a first-of-its-kind initiative by the Wisconsin Housing and Economic Development Authority and Corporation for Supportive Housing to expand the supply of affordable, supportive housing in Wisconsin. Participants may choose a single event or attend all four sessions. In Wisconsin, residents with mental health needs, physical challenges and substance use recovery are among those facing great difficulties in finding affordable housing. The shortage of affordable, supportive housing affects rural and urban communities alike.
NCSHA Washington Report | February 19, 2021
Economics reporter Conor Dougherty finds a grim “bipartisan agreement” at the heart of the housing supply shortfall: “Blue cities full of people who say they want a more equitable society...
SC Housing Launches $25 Million Rental, Mortgage Assistance Program for COVID-19 Relief
SC Housing this week launched its $25 million SC Stay rental and mortgage assistance program to assist South Carolina residents whose finances have been impacted by the COVID-19 pandemic. To begin the initial application for rental and mortgage assistance through the SC Stay program, visit www.SCStay.org or call 833.985.2929. Following an initial screening, one of SC Housing’s contract processing agencies will reach out to applicants to complete the application process. For more information about this program to help renters and homeowners, visit SCHousing.com.
DCHFA Relaunches the HomeSaver Foreclosure Prevention Program
In an effort to further support District residents during the coronavirus pandemic, the District of Columbia Housing Finance Agency (DCHFA) is reopening the HomeSaver foreclosure prevention program. Through the U.S. Department of the Treasury’s Hardest Hit Fund (HHF) the Agency has approximately $4 million available to relaunch the HomeSaver program. The funds will be used to aid eligible D.C. homeowners that have fallen behind on their mortgage payments due to unemployment, underemployment or have endured a financial hardship of which a lump sum payment will make the homeowner’s expense current.
