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ACTION Urges Congress to Act Now to Extend Housing Credit Deadlines, Set Minimum 4 Percent Rate in Response to COVID-19
On March 18, the ACTION Campaign, a coalition of more than 2,300 organizations and businesses across the nation co-chaired by NCSHA and Enterprise Community Partners, released a statement calling on Congress to extend, by one year, three key Housing Credit deadlines required under the statute. These deadlines will be difficult, if not impossible, for many properties to meet given the slowing pace of development due to the COVID-19 crisis.
Trump Orders HUD to Suspend Evictions and Foreclosures
President Trump on Wednesday directed the Department of Housing and Urban Development (HUD) to suspend evictions and foreclosures through April as Americans grapple with the fallout of the...
FHFA Suspends Foreclosures and Evictions for Enterprise-Backed Mortgages
Washington, D.C. – Today, to help borrowers who are at risk of losing their home, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac (the Enterprises) to...
PHFA Shares Initiatives to Maintain Affordable Housing During Financial Pressures Brought on by the Coronavirus and Health-Safety Efforts
The Pennsylvania Housing Finance Agency is playing a leadership role during the coronavirus pandemic as it works to reduce the impact on Pennsylvanians with limited housing budgets. It is promoting information sharing and recommended practices with organizations across the commonwealth that provide housing and supportive services. Its main goal is to promote housing stability during a period of financial instability for some.
NCSHA Recommends Substantial Changes to HUD’s Proposed Rewrite of Affirmatively Furthering Fair Housing Rule
On March 16, NCSHA submitted comments to HUD on the Affirmatively Furthering Fair Housing (AFFH) proposed rule the department released earlier this year. The proposed rule, if implemented, would be a major departure from the previous AFFH final regulations that HUD published in 2015, significantly reducing HUD’s expectations of grantees’ AFFH obligations.
Multifamily housing bonds could be attached to economic stimulus
As lawmakers in Washington search for bipartisan pieces to a third round of legislation to deal with the COVID-19 crisis, one popular measure that could hitch a ride on a larger economic stimulus...
Governor Wolf Announces Projects to Receive $2.8 Million for Community Revitalization
Governor Tom Wolf today announced the six projects to be awarded $2.8 million for the construction or rehabilitation of mixed-used developments. The funding was raised through the sale of tax credits under the Mixed-Use Development Tax Credit Program, the proceeds of which are being used to fund the work of the Community Revitalization Fund Program.
MassHousing Provides $9.9 Million in Financing for the Acquisition, Renovation and Preservation of Affordability at the 89-unit Colonial Village for Lower-Income Senior Citizens in Weymouth
MassHousing has closed on $9.9 million in affordable housing financing to an affiliate of Pennant Housing Group for the acquisition, renovation and preservation of the 89-unit Colonial Village Apartments in Weymouth. The transaction resolves an expired long-term affordability restriction and preserves affordability at the 89-unit property, which is home to low-income senior citizens, for at least 15 years.
New NLIHC Report Examines the Nation’s Affordable Rental Unit Shortage
According to "The Gap: A Shortage of Affordable Homes" — a new report published this week by the National Low Income Housing Coalition — the United States had a shortage of 3.6 million rental homes affordable for extremely-low-income renters in 2018.
Housing Credit Bill Surpasses Major Milestone with the Majority of House Members Cosponsoring the Legislation
WASHINGTON, DC – The Affordable Housing Credit Improvement Act (AHCIA, H.R. 3077) now has the cosponsorship support of more than half of the House of Representatives, reaching 221 members on March...
Secretary Carson Testifies on Administration’s FY 2021 Budget Request in Senate Subcommittee Hearing
HUD Secretary Ben Carson Wednesday appeared before the Senate Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies to discuss the Trump Administration’s FY 2021 HUD budget request.
New NLIHC Report: Sustained Public Investment Needed to Ensure Lowest-Income People Have Access to Decent, Accessible, Affordable Homes
Washington, DC - The Gap: A Shortage of Affordable Homes, a new report released today by the National Low Income Housing Coalition (NLIHC), finds a national shortage of seven million affordable and...
