Newsroom
CHFA Announces 2020 Round Two Housing Tax Credit Awards
Colorado Housing and Finance Authority (CHFA) is pleased to announce 12 developments will be awarded a reservation of state Affordable Housing Tax Credits (AHTC) and federal 4 percent Low Income Housing Tax Credits (LIHTC) to support the construction or preservation of 994 affordable apartments. The developments supported will seek to serve a broad range of Coloradans in need including, veterans, formerly homeless individuals and families, and youth aging out of foster care.
$75,000 Raised for Mt. Carmel Veterans Service Center
Colorado Housing and Finance Authority (CHFA) is pleased to announce it has raised $75,000 to support Mt. Carmel Veterans Service Center. In lieu of its annual David W. Herlinger Golf Tournament, CHFA held a virtual donation drive, “Drive It Home for Mt. Carmel” from July 15 through Veteran’s Day to raise funds. Contributions were made by 39 donors. Mt. Carmel Veterans Service Center provides wraparound services and resources for military, veterans, and their families, including employment and transition services, and behavioral health counseling and wellness programs.
Fifty-Three Housing Owners and Operators Sign ‘Eviction Diversion Pledge’ to Keep Over 57,000 Tenants and Families Safely Housed
Today, the Baker-Polito Administration, MassHousing, CHAPA, and the Massachusetts Association of Community Development Organizations (MACDC) announced a five-point Eviction Diversion Pledge, a commitment from Massachusetts property owners and operators to working with tenants facing financial difficulties because of the pandemic and supporting housing stability during the ongoing fight against the spread of COVID-19. As of November 10, 2020, over 53 property owners committed to the Pledge, representing over 57,654 homes across the Commonwealth.
Kansas Housing Awards $4.7 Million to Support Emergency Housing Efforts
Nonprofit organizations and local governments across the state received a funding boost to prevent and respond to homelessness, thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The funds, made available through the federal Emergency Solutions Grant (ESG) program, will support individuals experiencing homelessness or at risk of becoming homeless. Kansas received the additional ESG funding to address heightened needs surrounding the COVID pandemic. “Home has never been more important,” said Ryan Vincent, Executive Director of Kansas Housing.
Florida Housing Finance Corporation Honors Military Personnel Through Salute Our Soldiers Program
The Florida Housing Finance Corporation (Florida Housing) launched the Salute Our Soldiers Military Loan Program earlier this year to assist Florida’s growing population of veteran and active-duty military personnel in obtaining permanent housing. The Salute Our Soldiers program offers a variety of down payment and closing cost assistance (DPA), coupled with low interest rate first mortgage loans. Some of the DPA products offered are even forgivable after five years.
Iowa Finance Authority Nationally Recognized for Excellence in Financial Reporting
The Government Finance Officers Association recently awarded the Iowa Finance Authority (IFA) with the Certificate of Achievement for Excellence in Financial Reporting for its fiscal year 2019 comprehensive annual financial report (CAFR), the highest form of recognition in governmental accounting and financial reporting. “The attainment of the Certificate of Achievement for Excellence in Financial Reporting for the third consecutive year is a significant accomplishment,” said Iowa Finance Authority Executive Director Debi Durham. “This award represents IFA’s commitment to excellence in financial management, reporting and transparency on behalf of Iowans.”
NCSHA Washington Report | November 6, 2020
In a polarized political environment with a gridlocked federal government, how can the country meet national challenges that play out differently from state to state? In housing, it can work...
NCSHA Releases 2020 Election Analysis
As of this writing, who will win the presidential election and which party will control the Senate in the next Congress remain uncertain, though the mist appears to be clearing slightly. Final outcomes could be determined in the next few days or could take substantially longer, especially if Senate control depends on one, or possibly two, Georgia Senate runoff elections to be held in January. NCSHA election analysis linked here goes into more detail on the election results and our analysis of them.
PHFA Applauds Creation of PA Low Income Housing Tax Credit Program
The Pennsylvania Housing Finance Agency applauds the passage of Senate Bill 30 and its signature into law today, creating the Pennsylvania low-income housing tax credit (LIHTC) program. The legislation was written by Senator Tom Killion and received strong bipartisan support in the General Assembly. It will mirror the federal LIHTC program established in 1986. That program allocates tax credits to the states that developers then use to raise capital for the construction of affordable rental housing. In exchange for receiving the tax credits, developers agree to keeps rents affordable for a number of years in the apartments that are built.
Kansas Housing, Office of Rural Prosperity Request Bids for Statewide Housing Needs Assessment
State officials will commission Kansas’ first comprehensive study of housing needs and resources in more than 20 years, Lieutenant Governor Lynn Rogers announced. The state’s Office of Rural Prosperity, in conjunction with Kansas Housing Resources Corporation (KHRC), the state’s housing finance agency, is releasing a Request for Proposal (RFP) soliciting bids from qualified firms to develop, conduct, and deliver the assessment. Kansas has not conducted a major housing study in decades, resulting in a dearth of data on existing housing resources and current and projected needs.
CalHFA’s Mixed-Income Program Wins National Award
California's Mixed-Income Program (MIP), which is administered by the California Housing Finance Agency (CalHFA) as a result of support and collaboration across all sectors of the government from Governor Gavin Newsom's Administration to the Legislature to the State Treasurer's Office, has won a national award for program excellence. The National Council of State Housing Agencies (NCSHA) made the announcement at its annual conference Oct. 27, naming CalHFA's program a 2020 winner in its Rental Housing: Encouraging New Construction category.
IRS Publishes Average Income Test Proposed Rule
On October 29, the IRS published a notice of proposed rulemaking on the Housing Credit Average Income Test (AIT) minimum set-aside for public comment. The regulations, once finalized, would provide guidance on implementation of the AIT, as established by the Consolidated Appropriations Act of 2018 (2018 Act), which allows owners of Housing Credit properties (for purposes of the tax code, the “taxpayer”) to elect to serve households earning as much as 80 percent of area median income (AMI), as long as the income designations of the units in the property average no more than 60 percent of AMI. The proposed rule would modify existing Housing Credit regulations for the “next available unit rule” at Section 1.42-15 and establishes a new regulation for the AIT at Section 1.42-19.
