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NCSHA Washington Report | December 20, 2019
The Council of Development Finance Agencies’ most recent report on how states are using tax-exempt “private-activity” bonds (PABs) makes two main points. The first is that...
Florida Housing Partnership with Governor DeSantis Produces Housing Wins
The Florida Housing Finance Corporation (Florida Housing) is proud to announce numerous housing accomplishments in the first year of Governor Ron DeSantis taking office. “Florida Housing greatly appreciates the support and leadership that Governor Ron DeSantis has provided - from full funding statewide in both of his proposed budgets for housing, to hurricane recovery housing for affected families,” said Florida Housing Executive Director Trey Price.
New Financing to Create or Preserve More Than 1,000 Affordable Apartments Throughout State
The Washington State Housing Finance Commission has approved more than $331 million in financing that will build or renovate and preserve more than 1,000 apartments affordable to people with lower incomes throughout Washington state. “Each month, the Commission approves financing that ensures affordable homes for residents of Washington State,” said Karen Miller, chair of the Housing Finance Commission.
New Video Series Premieres Highlighting Neighborhood BusinessWorks Investment
The Maryland Department of Housing and Community Development launched a new promotional video series highlighting projects supported by the Neighborhood BusinessWorks program. The new videos present testimonials from business owners and developers who received funding about their positive experiences with the program. Neighborhood BusinessWorks provides gap financing to small businesses located in Priority Funding Areas and Opportunity Zones across Maryland.
HUD and VA Announce Support to Help Homeless Veterans Find Permanent Homes
WASHINGTON – In a continuing effort to end veteran homelessness, the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Veterans Affairs (VA) today announced $29.3...
MassHousing Completes Agency’s First Sustainability Bond Transaction
MassHousing this month issued $108 million in affordable multifamily Housing Bonds with a Sustainability Bond designation, marking the first time the Agency has issued Sustainability Bonds. The designated Sustainability Bonds, which will finance the preservation and rehabilitation of affordable rental housing communities in Boston and Cambridge, serve as a new tool for reaching mission-driven institutional and retail investors.
Additional Financial Assistance Available for Homeowners Recovering from Natural Disasters
South Dakota Housing Development Authority’s (SDHDA) Board of Commissioners approved additional funding to aid in recovery efforts for households impacted by the 2019 natural disasters. Financial assistance available for the disaster support includes cleanup or removal of debris; mold remediation; restoration; purchases of major appliances lost due to disaster (i.e., hot-water heater, furnace, etc.); rent payments; utility security deposits for displaced households; and downpayment assistance for the purchase of a housing unit.
Year-End Tax Bill Will Not Include Housing Credit Provisions
Just before midnight last night, congressional leaders released the text of a tax package intended to advance this week along with FY 2020 spending legislation released yesterday afternoon. NCSHA, HFAs, other Housing Credit industry allies, and our Senate and House Housing Credit champions had mounted a remarkable campaign to include provisions from the Affordable Housing Credit Improvement Act, S. 1703/H.R. 3077, and the Save Affordable Housing Act, S. 1956/H.R. 3479, in the legislation. Unfortunately, despite our best efforts, the final bill does not include Housing Credit provisions from these bills.
Congress Reaches FY 2020 Spending Deal with Increased Funding for Affordable Housing
House and Senate leaders have agreed to a deal to provide full-year Fiscal Year (FY) 2020 appropriations for all federal agencies, including HUD and USDA, split into two “minibus” spending packages. The spending deal will fund HUD and USDA housing programs at or above levels proposed by the Senate earlier this year, though not as high as levels proposed by the House prior to the adoption of the bipartisan budget agreement this summer. The HOME Investment Partnerships program (HOME) is funded at $1.35 billion ― less than the $1.75 billion provided in the House version but more than the Senate version which would have flat-funded the program at $1.25 billion. The House this afternoon approved both minibuses and will now send them to the Senate. President Trump is expected to sign both spending packages before the current continuing resolution expires on Friday. Affordable housing program highlights from the spending packages are listed in the blog.
NCSHA Identifies Increasing Commitment to Affordable Housing Investment Among Opportunity Funds
Nearly two-thirds of Qualified Opportunity Funds plan to invest in affordable housing and community development in Opportunity Zones, according to the latest edition of NCSHA’s Opportunity Zone Fund Directory, released today. A total of 196 funds representing nearly $45 billion in anticipated investment ― including 17 new funds ― are listed in this edition. Sixty-four percent (126) of the funds plan to invest in affordable or workforce housing or community revitalization. One year ago, just 22 of the 53 funds in the directory (42 percent) planned investment in this sector.
Governor Hogan Announces Homelessness Prevention Awards for Carroll, Cecil, and Charles Counties
Governor Larry Hogan today announced $1.4 million to assist Maryland's homelessness prevention efforts through the Maryland Department of Housing and Community Development's Community Development Block Grant program (CDBG). "We have made significant progress to reduce homelessness in Maryland by enhancing the way we administer essential resources to those in need, and by partnering with dedicated programs and organizations across our state," said Governor Hogan.
Iowa Finance Authority Celebrates Record Number of Home Buyers Assisted, Goes for Guinness World Record
The Iowa Finance Authority (IFA) helped 3,337 Iowans purchase a home in 2019, the most in the agencies’ history. To celebrate the community benefits of homeownership, IFA invites the public to help them break the Guinness World Record for the most people decorating gingerbread houses simultaneously. The event will be held in partnership with the Des Moines Downtown Winter Farmers’ Market at Hy-Vee Hall on Saturday, Dec. 14 at 9:30 a.m.
