Newsroom
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.
Florida Housing Board Approves Funding in Hurricanes Irma and Michael Impacted Counties
The Florida Housing Finance Corporation (Florida Housing) Board of Directors during today’s board meeting unanimously approved funding for 23 developments in hurricane-impacted counties in Florida. This past July and August, Florida Housing issued requests for applications (RFAs) offering Community Development Block Grant- Disaster Recovery (CDBG-DR) and Rental Recovery Loan Program (RRLP) funding for the construction of both affordable and workforce housing in Hurricanes Irma and Michael impacted areas.
NCSHA Washington Report | December 13, 2019
NCSHA is pleased to be collaborating with the Economic Innovation Group (EIG) on a series of case studies and other content on affordable housing developments in Opportunity Zones...
Top Congressional Negotiators Announce Tentative Deal on $1.3 Trillion in Federal Spending, Likely Averting Government Shutdown
The deal came after Treasury Secretary Steven Mnuchin visited Capitol Hill on Thursday to review a final list of sticking points. The agreement in principle sets up votes next week. Congress and the...
Financial Regulators Propose Overhaul of Anti-Redlining Law
Financial regulators appointed by the Trump administration proposed Thursday an overhaul of a 40-year-old anti-discrimination law, potentially upending the way banks make loans to low-income...
NJHMFA Celebrates Rehabilitation of Apartments Affordable to Families in Newark
A ribbon-cutting ceremony today marked the completion of the major rehabilitation of a decades-old building with 200 apartments affordable for working families in the city’s Central Ward. New Jersey Housing and Mortgage Finance Agency (NJHMFA) executive staff attended the ceremony. The project, 440 Washington Street, was co-developed by BRP Companies, based in New York City, and the St. James A.M.E. Development Corporation.
