Newsroom
FHLBank Pittsburgh and PHFA Announce Home4Good Funding Awards
FHLBank Pittsburgh and the Pennsylvania Housing Finance Agency (PHFA) announced today the 2019 Home4Good funding awarded to programs across the state working to reduce homelessness. This year, FHLBank Pittsburgh provided $3 million toward the effort, and PHFA provided $1.5 million, for a total contribution of $4.5 million. It’s the second year of this special joint initiative targeting homelessness.
NCSHA Washington Report | November 15, 2019
Martha Ross and Nicole Bateman of the Brookings Institution have produced a remarkable analysis of the demographics of America’s “low-wage” workforce: the 53 million people...
FHA Report Finds Mortgage Insurance Fund Improved Substantially; Concerns Remain about DPA
The economic value of the Federal Housing Administration’s Mutual Mortgage Insurance Fund showed strong growth in FY 2019, according to FHA’s 2019 Report to Congress.
New Affordable Apartments Open for Seniors in Burlington County
New apartments affordable for seniors officially opened today with a ribbon-cutting ceremony joined by New Jersey Housing and Mortgage Finance Agency (NJHMFA) executive staff, local officials and developer Volunteers of America Delaware Valley. Waterfront Village, located on seven acres on Burlington Road, is part of a township-wide waterfront redevelopment of a former ship repair and cleaning site located along the Delaware River and near the RiverLine light rail.
Affordable Family Housing Community in Worcester Will See Extension of Affordability, Renovations from $11.8 Million in MassHousing Financing
MassHousing has closed on $11.8 million in affordable housing financing to the non-profit Homeowners Rehab, Inc. (HRI), to modernize the 70-unit Matheson Apartments in Worcester. HRI has renewed the expiring affordability restrictions at the property with the goal of preserving its affordability for the long term.
Leominster Housing Community Will Have Affordability Extended, Substantial Renovations With $15 Million in MassHousing Financing
MassHousing has provided a total of $15 million in affordable housing financing to an affiliate of Farragut Investments Inc., to undertake substantial property improvements at the 181-unit Whitney Carriage Park apartments in Leominster. As part of the MassHousing financing, the affordability of the 45 affordable rental homes at Whitney Carriage Park will be preserved in perpetuity.
DSHA and FHLBank Pittsburgh Announce Home4Good Funding Awards
Delaware State Housing Authority (DSHA) and Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) announced today $1.2 million in Home4Good funding awarded to programs across the state working to reduce homelessness. DSHA provided $500,000 toward the effort, and FHLBank Pittsburgh provided $700,000. The funding will be used to address four key areas: homelessness prevention, homelessness diversion, rapid re-housing and innovation.
NCSHA Washington Report | November 8, 2019
With daylight saving time in effect, we’re missing the late afternoon light on the East Coast and thinking a little more about the sun. On the West Coast, in California, most everyone...
IRS Releases 2020 Housing Credit and Private Activity Bond Volume Cap Levels
Today, the Internal Revenue Service published Rev. Proc 2019-44, which provides the per capita and small state minimum levels for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PAB). In 2020, states will receive the greater of $2.81 per capita or $3,217,500 in Housing Credit authority, slight increases over the 2019 Housing Credit authority levels of $2.76 per capita or $3,166,875. The per capita PAB volume cap will be $105 per capita, the same amount as in 2019, but the small state minimum for PAB volume cap will increase to $321,775,000 from $316,745,000.
Affordable, Senior-Friendly Apartments Open Downtown
Southhill Properties LLC, is celebrating the completion of Harper Heights on Wednesday, Nov. 13, from 10 a.m. to Noon. The affordable, senior-friendly property is in downtown West Fargo, an area targeted by the community for redevelopment. The Open House will include a ribbon cutting followed by a short program and tours of the property. “Affordable housing for seniors with limited incomes is a welcome resource,” said West Fargo Mayor Bernie Dardis.
New Financing to Build 807 Affordable Apartments in King County
The Washington State Housing Finance Commission has approved bonds and housing tax credits that will build more than 800 new affordable apartments for individuals, families, persons with disabilities, and seniors in Seattle, Auburn and Redmond. “This financing will help provide people in our communities with a safe, secure place to live,” said Karen Miller, chair of the Housing Finance Commission.
Louisiana Housing Corporation Launches New Program to Assist First-Time Homebuyers in Areas Affected by 2016 Floods
The Louisiana Housing Corporation launched a new soft second mortgage assistance initiative to assist first-time homebuyers in areas affected by 2016 floods. The Resilience Soft Second Program is designed to cover the affordability gap between the maximum amount that a homebuyer can afford and the purchase price of a home. Qualified first-time homebuyers in 51 flood-impacted parishes can get up to $60,000 toward purchasing a home, along with closing-cost assistance.
