Recent News
Colorado Gov. Jared Polis today signed legislation doubling the annual amount of state low-income housing tax credits available for allocation. H.B. 1228 increased the amount of the state LIHTC allocation from $5 million to $10 million for 2020 through 2024.
The Community Development Financial Institutions (CDFI) Fund plans to publish a notice of funding and an application for the fiscal year 2019 Capital Magnet Fund (CMF) round this summer. Up to $130.8 million is expected to be available in grants for CDFIs and qualified nonprofit housing organizations to support affordable housing activities and related economic development and community service facilities. Applicants must be either a certified CDFI or nonprofit operating with a principal purpose of developing or managing affordable housing.
The Missouri House of Representatives passed legislation to place a cap on the state low-income housing tax credit (LIHTC) at 72.5 percent of the federal allocation or $123 million annually in an effort to restart the program. The state Senate, which passed an earlier version of the bill, will now consider the updated version of S.B. 28. Missouri’s state LIHTC program, a dollar-for-dollar match for the federal LIHTC, was put on hold in 2017 by former Gov.
California Gov. Gavin Newsom released a revised 2019-2020 budget request Thursday that includes the $200 million annual expansion of the state Low-Income Housing Tax Credit program included in his original proposal, which would increase the annual statewide cap by $500 million for new construction.
The Federal Housing Administration (FHA) today announced a series of incentives to encourage affordable multifamily property owners to invest in opportunity zones (OZs). FHA will reduce application fees for certain affordable housing programs in OZs and will designate a team of underwriters to speed up the processing of those applications.
Recent Updates
