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LHC Board Approves $187 Million to Develop Multifamily Rental Properties
LHC's Board of Directors approved $187 million to develop 1,081 affordable rental units across six Louisiana parishes at their monthly board meeting, July 8. This multi-million dollar investment represents a combination of LHC's Low-Income Housing Tax Credits (LIHTC) and Multi-family Revenue Bonds (MRBs) and the Office of Community Development's Community Development Block Grants (CDBG). Projects represent a mix of new construction and preservation developments that aim to assist working families, households with children, seniors, and people with disabilities.
NCSHA Washington Report | July 10, 2020
How — and whether — to open schools has become the latest political flashpoint in the country’s response to the coronavirus crisis. House Republican Leader McCarthy (R-CA) wrote in USA...
Maryland Department of Housing and Community Development (DHCD) Notice of Funding Availability
The Maryland Department of Housing and Community Development (DHCD) is administering up to $40 million of the Governor's $50 million Nonprofit Recovery Initiative (NORI). The remaining nonprofit funding will be administered by the Maryland Department of Commerce. Of the $40 million being administered by DHCD, $10 million is earmarked for nonprofit licensees of the Maryland Behavioral Health and Developmental Disabilities Administrations.
$5 Million in Mortgage Assistance will Help Vermont Homeowners Hurt by Pandemic
Vermont’s new Mortgage Assistance Program was announced today to help low-income homeowners who have fallen behind on their mortgage and are facing economic hardship brought on by the COVID-19 pandemic. The program will provide up to three monthly mortgage payments directly to the servicer of the mortgage with a goal of preventing future foreclosure. Administered by Vermont Housing Finance Agency (VHFA) with $5 million of the funding provided to Vermont through the federal CARES Act, the program is available to any homeowner who meets the eligibility criteria, and is not just for VHFA borrowers.
Customer and Community Feedback Leads to Tax Credit Plan Improvements
Helpful feedback from developers and community members has resulted in a series of improvements to WHEDA’s 2021-2022 plan for administering federal and state tax credits that finance low- to moderate-income housing. The 2021-2022 Qualified Allocation Plan establishes parameters and priorities for awarding the coming year’s assigned tax credits, including federal 9% and 4% credits as well as state 4% credits estimated at $31 million for the upcoming year. The comments came from in-person and online meetings with WHEDA partners, developers and elected officials as well as an online public survey.
FHFA Extends COVID-Related Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers Through August
Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will extend several loan origination flexibilities until August 31,...
Delaware Public Housing Authorities, Department of Correction and Delaware Center for Justice Launch Family Reentry Pilot Program
Delaware’s five public housing authorities (PHAs), the Delaware Department of Correction (DOC) and the Delaware Center for Justice (DCJ) today launched the Delaware Family Reentry Pilot (FRP) Program, a statewide initiative to give individuals recently released from incarceration the opportunity to access safe and stable housing by reuniting with their families who live in public housing. It represents the latest statewide initiative to advance Governor John Carney’s effort to support reentry success and reduce Delaware’s recidivism rate through Executive Order 27.
FHA Expands Home Retention Measures for Homeowners Financially Impacted by COVID-19
Washington - The Federal Housing Administration (FHA) today announced additional home retention measures to help homeowners with FHA-insured single family mortgages who are financially impacted by...
House Appropriations Subcommittee Approves FY 2021 Bill Increasing HUD Program Funding Levels
The House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies today passed its fiscal year (FY) 2021 appropriations bill, which would provide substantial increases for regular annual appropriations for HUD programs in FY 2021 and additional appropriations for several HUD programs to foster economic recovery from the coronavirus pandemic and support infrastructure development.
House Appropriations Subcommittee Approves FY 2021 Agriculture Appropriations Bill
The House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies convened Monday evening to mark up the FY 2021 appropriations bill for USDA, FDA, and related agencies. The bill, which includes a total of $23.98 billion in discretionary funding — an increase of $487 million from FY 2020 — was approved by a voice vote.
WHEDA Invites Community Participation to Kick Off Rural Affordable Workforce Housing Initiative
Rural community leaders, employers, affordable housing providers, developers, lenders, planners, policy makers and residents are invited to learn more and provide final input prior to the launch of the competitive application process for the Wisconsin Housing and Economic Development Authority’s rural affordable workforce housing pilot. A webinar to explain the pilot and larger rural affordable workforce housing initiative will be held July 13 at 1 p.m. Information about the initiative including public comment options can be found here; registration for the free webinar is available here.
House Passes Infrastructure Legislation with Significant Expansion of Housing Credits and Private Activity Bonds
On July 1, the House of Representatives, on a largely party-line vote, passed an historic infrastructure bill, the Moving Forward Act (H.R. 2), with significant new resources for affordable housing, including many NCSHA priorities — a 50 percent increase to the Housing Credit volume cap, the establishment of a minimum 4 percent credit rate for bond-financed Housing Credit properties, an increase to the private activity bond volume cap, the creation of a new single-family tax credit, funding increases for HOME and the Housing Trust Fund, and more.
