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Joint Economic Committee hearing on the “Promise of Opportunity Zones”
On May 17, the congressional Joint Economic Committee (JEC) held a hearing to consider the potential positive impacts that Opportunity Zones tax incentives, enacted in the Tax Cuts and Jobs Act of 2017, could have for low-income communities.
House Financial Services Subcommittee Examines the State of Homelessness in America
On May 17, the House Financial Services Subcommittee on Housing and Insurance held a hearing titled, “An Overview of Homelessness in America,” to examine homelessness and federal, state, and local efforts to reduce it.
Washington Report | May 18, 2018
Representatives of HFAs active with Fannie Mae and Freddie Mac were in Washington this week discussing key business issues and new opportunities with these longtime and increasingly important...
Representatives Duffy and Cleaver Introduce Voucher Mobility Demonstration Bill
On May 16, House Financial Services Housing and Insurance Subcommittee Chairman Sean Duffy (R-WI) and Ranking Member Emanuel Cleaver (D-MO) introduced the Housing Choice Voucher Mobility Demonstration Act of 2018, HR 5793.
After Increases in FY 2018, House Subcommittee Flat-Funds Most HUD Programs and Cuts HOME in FY 2019
On May 16, the House Appropriations Subcommittee on Transportation, Housing, and Urban Development (THUD) approved its Fiscal Year (FY) 2019 funding bill, which provides $43.6 billion in total net discretionary spending for HUD programs, $941 million more than the FY 2018 enacted level and $11.9 billion more than the Administration’s FY 2019 budget request.
Gov. Walker Signs State Tax Credit Legislation Into Law
Wisconsin Governor Scott Walker signed Act 176 into law establishing a Wisconsin housing tax credit program. The new state program provides a tax incentive for private investment in the development or rehabilitation of affordable rental housing.
Administration Nominates Michael Bright to be Ginnie Mae President
On May 15, the Trump Administration announced its nomination of Michael Bright to serve as the President of the Government National Mortgage Association (Ginnie Mae).
CohnReznick Examines Housing Credit Property Performance
A recent study issued by CohnReznick found Low Income Housing Tax Credit (Housing Credit) properties to be operating better than in any other period during the program’s history.
Senior Housing Community On Nantucket Will Be Renovated, Have Affordability Extended For Perpetuity With $1.5 Million in MassHousing Financing
The MassHousing funding will enable HallKeen Management to make renovations to Academy Hill, a 27-unit mixed-income housing community for senior citizens on Nantucket, and to preserve affordability at Academy Hill’s affordable units for perpetuity.
Terner Center Study Finds Economic Mobility and Educational Success for Housing Credit Tenants
The Terner Center for Housing Innovations at UC Berkley (The Terner Center), in partnership with the California Community Reinvestment Corporation (CCRC), recently highlighted the impact living in affordable housing has on residents’ economic mobility and other positive outcomes.
WinnCompanies & Omni Development Break Ground on $42 Million Rehab at Historic Rhode Island Public Housing Community
WinnCompanies and Omni Development Corporation formally kicked off $42 million in ambitious renovations to modernize Prospect Heights Apartments, a historic New Deal-era public housing community in Pawtucket.
Newton Mixed-Income Housing Community Will Undergo Major Renovation With $3.3 Million in MassHousing Financing
MassHousing has provided $3.3 million in affordable housing financing to the nonprofit Newton Community Development Foundation, for the renovation of the historic Weeks School Apartments.
