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MassHousing Closes $10.6 Million in Financing to Preserve Affordability and Make Extensive Property Improvements
MassHousing has closed on $10.6 million in financing to the East Boston Community Development Corporation (EBCDC) for the acquisition, renovation and preservation of 111-unit scattered-site Landfall Community Associates properties in East Boston.
District Agencies Announce Progress to Transform Parkway Overlook Community
Several District Government agencies have closed a financing deal that will preserve 220 affordable housing units in the long vacant Parkway Overlook Apartments in the Ward 8 neighborhood of Congress Heights.
Due to Tax Reform’s Impact, Fannie Mae Realizes 4Q Losses, Prompting Need for Treasury Assistance
Fannie Mae announced today in its latest earnings report that it realized a net loss in the fourth quarter of 2017, resulting in a net worth deficit of $3.7 billion as of December 31, 2017.
Trump Administration Releases FY 2019 Budget Proposal Eliminating HOME and Other Federal Housing Programs
On February 12, the Administration sent Congress its formal Fiscal Year (FY) 2019 Budget request, “Efficient, Effective, Accountable: An American Budget”. The FY 2019 Budget reduces the overall “federal footprint of housing assistance” by eliminating several key programs, including the HOME Investment Partnerships Program (HOME), the Community Development Block Grant (CDBG), the Public Housing Capital Fund, the Choice Neighborhoods Initiative, the Self-Help and Assisted Homeownership Opportunity Program (SHOP), and Section 4 Capacity Building for Community Development and Affordable Housing. Please see NCSHA’s statement on the Administration’s FY 2019 Budget.
Trump Administration Releases Infrastructure Plan
The Trump Administration yesterday released the framework of the President’s long-awaited infrastructure plan. One of the key planks of the proposal would strengthen and allow for the increased use of private activity bonds (PABs), though it is unclear how many of the provisions would impact Housing Bonds.
Sustainable-Energy Projects Help Keep Washington Green
A solar rooftop for a grocery store in south Kitsap, energy improvements for a new addiction-treatment facility in Seattle, and a biodigester on Vashon Island are the latest projects to be financed through the Sustainable Energy Trust (SET).
NCSHA Statement on the Administration’s FY 2019 Budget
The Administration’s FY 2019 Budget proposes eliminating HOME, the Housing Trust Fund, CDBG, and other effective housing programs, and drastically reduces federal rental assistance on which so many people rely.
Low-Income Seniors Living in Boston Will See Extension of Affordability, Property Improvements, With $135.5 Million in Financing
MassHousing has provided a total of $135.5 million in financing to an affiliate of the non-profit Retirement Housing Foundation (RHF), to enable RHF to launch a major renovation of the 404-unit Symphony Plaza in Boston, and extend affordability at the property for at least 30 years.
