News

Thursday, September 21, 2023

The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Friday’s Federal Register seeking comments on a proposal to reinstate the collection of Rental Assistance Demonstration (RAD) program application forms. HUD’s request seeks feedback that includes ways to enhance the quality, utility and clarity of the information collected. Comments are due Nov. 21.

Thursday, September 21, 2023

The Community Development Financial Institutions (CDFI) Fund will publish a notice in Friday’s Federal Register requesting comment on the updated application questions for the CDFI program, Native American CDFI Assistance (NACA) program and the CDFI Fund’s financial assistance and technical assistance programs. The revised programs application questions have been modified to reflect public comments received through a previous request for public comment. Comments are due by Oct. 23.

Thursday, September 21, 2023

The U.S. Department of Housing and Urban Development (HUD) published a notice in today’s Federal Register designating 2024 difficult development areas (DDAs) and qualified census tracts (QCTs) for purposes of the low-income housing tax credit (LIHTC). LIHTC properties built in a QCT or DDA are eligible to increase their eligible basis by up to 30%. The notice designates DDAs for all states, the District of Columbia and four major U.S. territories (Guam, the Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands). QCTs are based on income and poverty data released in the American Community Survey. The 2023 DDAs and QCTs are effective for LIHTC allocations made after Dec. 31, 2023, or for buildings financed by tax-exempt bonds that are placed in service after Dec. 31, 2023.

Monday, September 18, 2023

The Internal Revenue Service (IRS) published in today’s Federal Register a notice and request for comments about the qualified advanced energy project credit.

Friday, September 15, 2023

The U.S. Department of Housing and Urban Development (HUD) announced today it will extend the compliance date to Oct. 1, 2024, for the National Standards for the Physical Inspection of Real Estate (NSPIRE) for select programs.

Friday, September 15, 2023

The Community Development Financial Institutions (CDFI) Fund today announced a transaction-level report (TLR) deadline extension to Dec. 31, 2023, for new markets tax credit (NMTC) award allocatees with a TLR due date between Aug. 31, 2023, and Nov. 30, 2023. 

Wednesday, September 13, 2023

The U.S. Department of Housing and Urban Development (HUD) today announced it awarded about $18 million in grant funding and loan commitments under the Green and Resilient Retrofit Program (GRRP) to owners of properties participating in HUD-assisted multifamily housing programs. The awards will help fund upgrades for 28 multifamily properties with more than 3,400 HUD-assisted multifamily rental homes. The GRRP was funded under the Inflation Reduction Act to invest in energy efficiency, energy generation and climate resilience strategies in multifamily housing. Additional GRRP rounds will be awarded throughout 2023 and 2024.

Tuesday, September 12, 2023

The California Department of Housing and Community Development (HCD) and the California Housing Finance Agency (CalHFA) today announced the joint publication of the updated Audited Financial Statements Handbook for Multifamily Rental Housing.

Tuesday, September 5, 2023

The Office of the Comptroller of the Currency released 24 Community Reinvestment Act performance evaluations that became public in August, with seven institutions receiving outstanding ratings and 17 receiving satisfactory ratings. The list includes national banks, federal savings associations and insured federal branches of foreign banks.

Friday, September 1, 2023

The Community Development Financial Institutions (CDFI) Fund today announced its release of updated eligibility data for the new markets tax credit (NMTC) incentive. The updated information on low-income communities (LICs) is based on 2016-2020 American Community Survey (ACS) five-year estimate data from the U.S. Census Bureau. The new data may be used as of today (Sept. 1). The CDFI Fund also published information on the transition from 2011-2015 to 2016-2020 data, based on the date the qualified low-income community investment (QLICI) closes. Similar information on island areas֪–not included in this release–is tentatively scheduled for release in December. The New Markets Tax Credit Working Group will analyze the data and transition guidance.