Newsroom
Applications Open for Highly Competitive Federal and State Housing Tax Credits
The Wisconsin Housing and Economic Development Authority is now accepting applications for the upcoming round of federal and state tax credits, which finance affordable workforce housing. The application period for the highly competitive 2021-22 housing tax credit programs runs from Nov. 20, 2020 until Dec. 11, 2020. The application process covers federal 9% as well as state 4% and federal 4% tax credits estimated at a total of $31 million for the upcoming year.
Oklahoma Housing Finance Agency Trustees Allocate Affordable Housing Funds
Oklahoma Housing Finance Agency's (OHFA's) Board of Trustees allocated federal Affordable Housing Tax Credits and Home Investment Partnerships Program (HOME) funds at its November meeting. This allocation will generate 695 affordable housing units. "The approved developments will benefit residents in both rural and urban communities," said Deborah Jenkins, OHFA executive director. "Investment in these communities will have a far-reaching impact on Oklahoma's low-income families and seniors."
MaineHousing Awards $225,000 in Community Housing Grants
MaineHousing announced today that they are awarding funds to two Maine municipalities who are leading with innovation to address local affordable housing needs. The City of Lewiston will receive $75,000 to support their application to the U.S. Department of Housing and Urban Development’s $30+ million Choice Neighborhoods Initiative. The City of Sanford will receive $150,000 to rehabilitate tax foreclosed single family and two-family buildings.
Hogan Administration Announces $19 Million in Eviction Prevention Partnership Grants
Governor Larry Hogan today announced that 17 Maryland local jurisdictions were awarded $19.3 million in Maryland Eviction Prevention Partnership grants, which will address the needs of more than 3,600 households across the state. "Maryland has continued to be a national leader in our COVID-19 response, which is why we have responded aggressively with targeted rental relief funding," said Governor Hogan. "These grants will help ensure our citizens can remain safe and secure in their homes as we continue to respond to this global pandemic."
COVID-19 Worsens Longstanding Rental Affordability Challenges According to New Harvard Report
On November 19, Harvard University’s Joint Center for Housing Studies (JCHS) released its 2020 State of the Nation’s Housing report. The report finds that, despite low interest rates and continued growth in some sectors, the health and economic consequences of COVID-19 coupled with racial tensions and climate change across the nation have exacerbated the rental supply and affordability crises.
NCSHA Washington Report | November 20, 2020
Below the bubbling surface of discouraging news about prospects for a fiscal stimulus bill before the year’s end and more encouraging signs of a potential agreement to fund the federal...
CHFA’s New Strategic Plan Will Lead to Greater Access to Affordable Housing for Low- and Moderate-Income Families
The Board of Directors of the Connecticut Housing Finance Authority (CHFA) has approved a three-year strategic plan that will guide the quasi-public agency in addressing the State’s housing priorities. The plan, which was created with input from scores of external stakeholders and board members, serves as a roadmap for CHFA, charting the way to creating greater opportunity for low- and moderate-income state residents to access safe, secure, affordable housing. CHFA worked with Leadership Greater Hartford to coalesce the various perspectives garnered from stakeholders into goals for implementation.
DSHA’s Eviction Defense, COVID-19 Rental Assistance, and Homes for Grads Programs Win National Awards
DSHA received national recognition for three of its newest programs when they were honored with a 2020 Annual Award for Program Excellence during the NCSHA annual conference. DSHA received the most awards of any state housing authority in the country. The conference was held virtually this year due to COVID-19 restrictions. The awards recognized the success of DSHA’s Eviction Defense Program, COVID-19 rental assistance program, and Homes for Grads.
Reynolds Announces Additional Support for COVID-19-Impacted Renters and Homeowners at Risk of Eviction or Foreclosure
Governor Reynolds today announced an additional allocation of CARES Act funds to support Iowa renters and homeowners at-risk of eviction or foreclosure due to a COVID-19-related loss of income. The Iowa Eviction and Foreclosure Prevention program has now been allocated a total of $37.4 million, with approximately $8 million remaining available. The deadline to apply for rent and mortgage assistance as well as utility assistance through the Iowa Residential Utility Disruption Prevention program is Dec. 4, 2020.
LHC Board Approves $245 Million to Develop Multifamily Rental Properties
LHC's Board of Directors approved $245 million to develop 769 affordable rental units across five Louisiana parishes. This multi-million dollar investment represents a combination of LHC's Low-Income Housing Tax Credits (LIHTC) and Multi-family Revenue Bonds (MRBs) and Community Development Block Grant (CDBG) funds administered by the State of Louisiana, Office of Community Development. The approved developments represent a mix of new construction and preservation projects that aim to assist working families, households with children, seniors, and people with disabilities.
FHA 2020 Annual Report Shows FHA’s Impact on First-Time and Minority Homeownership
On Friday, the Federal Housing Administration (FHA) released its FY 2020 Annual Report. During FY 2020, FHA endorsed more than 1.3 million home mortgage loans through its forward mortgage program, including 817,847 mortgage loans to homebuyers, 83.1 percent of whom were first-time buyers. The average forward mortgage loan amount endorsed was $232,773, a 7.4 percent increase from the FY 2019 average of $216,695. Despite robust volumes, FHA’s market share decreased from 11.56 percent in FY 2019 to 9.61 percent in FY 2020, reflective of the strong refinance activity in the mortgage market generally and FHA’s historically smaller share of refinances overall.
$12 Million Awarded for Affordable Housing in South Dakota
South Dakota Housing Development Authority’s (SDHDA) Board of Commissioners today awarded more than $12 million to assist South Dakotans with newly constructed multifamily housing, single family housing, homebuyer assistance, homeowner rehabilitation, and homelessness prevention. The developments will receive $3.7 million in Housing Tax Credits, $4.6 million in HOME Investment Partnership Program funds, $1.5 million in Housing Opportunity Funds and $2.4 million in Housing Trust Funds.
