In a time when affordable rental housing is as needed as ever, during the COVID-19 pandemic, there is a new subsidy available for low-income housing tax credit developments in California: the Homekey program.

The Homekey program is a new housing initiative announced July 16 by the California Department of Housing and Community Development. It expands housing opportunities for households experiencing homelessness and those impacted by the COVID-19 pandemic.

In the initial legislation, $600 million in funding was available for Homekey grants in two pools:

As of the writing of this post, the presidential election remains uncalled, and it appears that it may take several days for results to be clear.

As for Congressional races, Democrats currently have a net gain of one seat in the Senate with five seats uncalled. Democrats are projected to retain control in the House, albeit likely with net losses of at least five seats, according to AP.

The closing months of 2020 will certainly be eventful, and opportunities zones (OZs) stakeholders will be watching to see how the incentive may be affected. There will be a flurry of government activity in the coming days and week – including ongoing negotiations around the next phase of COVID-19-related relief, efforts to seat a new Supreme Court justice, possible year-end tax legislation and another continuing resolution to fund the government – the most consequential of which are the upcoming elections.

Family properties spend more and earn more.

That’s one of the conclusions from the 2020 Multifamily Rental Housing Operating Expense Report, the annual report published by Novogradac.

The data shows that low-income housing tax credit (LIHTC) properties for families have higher operating expenses, but also more net operating income (NOI) than senior properties.