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NCSHA Washington Report | SPECIAL EDITION | December 22, 2020
Yesterday, Jupiter and Saturn shared a rare planetary nuzzle and Congress passed an emergency relief bill for the American people by huge bipartisan majorities. It’s OK to feel good for a...
Utah Housing Corporation Announces $10.7 Million to Advance Affordable Rental Housing Across the State
The Board of Trustees for Utah Housing Corporation approved staff recommendations to award Low-Income Housing Tax Credits (LIHTC) to 15 developments that achieved the highest scores in the recent application process. The credits will be leveraged with other financing, ultimately providing the resources for $137 million in total development costs and supporting 3,276 jobs. According to a recent study, the shortage of affordable units for low-income renters in Utah continues to grow and currently stands at 49,500.
FHA Extends Options For Single Family Borrowers Financially Impacted By COVID-19
Washington - On December 21, 2020, the Federal Housing Administration (FHA) announced it is extending the foreclosure and eviction moratorium for single-family FHA-insured mortgages for an additional...
Year-End Legislation Includes Emergency Rental Assistance, Permanent 4 Percent Housing Credit Rate, and More
Congressional negotiators this afternoon unveiled the mammoth year-end omnibus legislation that includes appropriations for all federal departments and agencies, coronavirus relief, and tax provisions. Notably, the bill includes $25 billion in emergency rental assistance, a minimum 4 percent rate for Housing Credit developments, and additional Housing Credit disaster authority for some states – provisions on which NCSHA had worked with members of both parties and other housing groups to advance. Through the nationwide state HFA delivery system, they will help hundreds of thousands of needy households in the months ahead.
Melanie Walter to Lead New Jersey Housing and Mortgage Finance Agency
Lt. Governor Sheila Oliver, Chair of the New Jersey Housing and Mortgage Finance Agency (NJHMFA), today announced that Melanie R. Walter, DCA Director of the Division of Local Government Services (DLGS) and a former Deputy Attorney General, was appointed as Executive Director by the board at its December 10th meeting. Ms. Walter served as Department of Community Affairs (DCA) Director of the Division of Local Government Services (DLGS) and Local Finance Board Chairwoman for two and half years, first as Acting Director, then under permanent appointment.
LHC Partners with Municipalities to Launch “Housing Heroes” Initiative
In light of the dire need for quality, safe, affordable, and accessible housing following the ongoing 2019 Coronavirus pandemic and Hurricanes Delta, Laura and Zeta the Louisiana Housing Corporation (LHC) and the Department of Housing and Urban Development (HUD) is partnering with state municipalities in activating Louisiana's Housing Heroes Initiative. Housing Heroes is a statewide initiative that works to identify apartment and rental housing opportunities that are move-in ready or have upcoming availability.
NCSHA Washington Report | December 18, 2020
The following op-ed by NCSHA Executive Director Stockton Williams was published by The Hill earlier this week. At a dark hour for renters across the country, Washington may soon send some...
Governor Hogan Announces COVID-19 Relief Grants for Major Tourism-Related Institutions
Governor Larry Hogan today announced the recipients of 32 awards totaling more than $8 million to tourism-related nonprofits through the Maryland Strong Economic Recovery Initiative. The program, administered by the Maryland Department of Housing and Community Development, provides grants up to $500,000 for the state's nonprofit and tourism producing organizations, such as museums, cultural attractions, zoos and aquariums whose mission and work substantially contributes to the economic development and now economic recovery of Maryland communities through visitor-driven activities and programs.
NCSHA Presses for Changes to IRS Housing Credit Average Income Test Proposed Rule
Today, NCSHA submitted comments to the Internal Revenue Service (IRS) urging it to make changes to the Low Income Housing Tax Credit (Housing Credit) Average Income Test (AIT) minimum set-aside regulations the Service put forth in a recent Notice of Proposed Rulemaking. NCSHA worked closely with Housing Credit leaders in Congress on developing the concept of the AIT and drafting the legislative language, which first appeared in the Affordable Housing Credit Improvement Act of 2016 and was eventually enacted as part of the Consolidated Appropriations Act of 2018. Unfortunately, the IRS AIT proposed rule sets what NCSHA believes to be an unnecessarily rigid standard for meeting the AIT minimum set-aside, creating excessive risk to investors and likely negatively impacting interest in AIT properties. It also stymies practical implementation of the AIT by preventing owners from changing unit income designations over time, even if such changes are needed to comply with other housing program rules or if the lack of such flexibility creates conflicts with fair housing- and accessibility-related laws.
CalHFA Kicks Off National Mortgage Settlement Counseling Program
The California Housing Finance Agency (CalHFA) is pleased to announce the start of the National Mortgage Settlement Counseling Program, offering free housing counseling to help Californians concerned about their housing situation. CalHFA designed and implemented the new program to respond to overwhelming need as COVID-19 and the related economic disruption have exacerbated an already precarious housing situation for millions of California families.
Minnesota Housing Announces $195 Million to Advance Housing Across the State
Governor Tim Walz, Lieutenant Governor Peggy Flanagan and Minnesota Housing Commissioner Jennifer Leimaile Ho announced in an online presentation today that the Minnesota Housing board of directors approved staff recommendations of $195 million to create and preserve 2,387 homes throughout the state, including rental units and single-family homes. Full details on all of the selected and advancing developments, including maps and videos, are available online at www.mnhousing.gov/sites/np/2020selections.
FHFA Announces 2021 Affordable Housing Goals for Fannie Mae and Freddie Mac
Washington, D.C. – Today, the Federal Housing Finance Agency (FHFA) announced its 2021 affordable housing goals for Fannie Mae and Freddie Mac (the Enterprises). Due to the economic uncertainty...
