All News

Tuesday, January 19, 2021

The U.S. Department of the Treasury today published a frequently asked questions document concerning the Emergency Rental Assistance (ERA) program that was established by the Consolidated Appropriations Act, 2021. The FAQ addresses 14 questions, including definitions, requirements for participation and information required for recordkeeping. 

Wednesday, January 6, 2021

U.S. Department of the Treasury today published details concerning the $25 billion available through the Emergency Rental Assistance program, including a deadline of Tuesday, Jan. 12, at 11:59 p.m. ET to ensure payments are made within a 30-day period. Treasury also published grantee award terms and a submission form.

Tuesday, January 5, 2021

The Federal Housing Finance Agency (FHFA) today published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac.

Tuesday, January 5, 2021

The U.S. Department of Housing and Urban Development (HUD) will publish in Thursday’s Federal Register two notices–one announcing the allocation of Community Development Block Grant (CDBG) mitigation funds and the other announcing the allocation of CDBG disaster recovery (CDBG-DR) funds.

Monday, December 28, 2020

President Donald J. Trump signed fiscal year 2021 spending legislation Sunday that includes a permanent minimum 4% low-income housing tax credit (LIHTC), a five-year extension of the new markets tax credit (NMTC) and extensions of renewable energy tax credits. The $1.4 trillion omnibus fiscal year spending legislation includes a $1.2 billion allocation of non-COVID disaster LIHTCs for 11 states and Puerto Rico, a one-year extension of the renewable energy production tax credit (PTC) at 60% of its original amount and a two-year extension of the renewable energy tax investment tax credit (ITC) at a 26% rate. The NMTC is now authorized through 2025. 

Monday, December 21, 2020

A permanent minimum 4% low-income housing tax credit (LIHTC) rate, a five-year extension of the new markets tax credit (NMTC) and an extension of phase-down provisions for the renewable energy investment tax credit (ITC) and production tax credit (PTC) are included in a $1.4 trillion omnibus fiscal year 2021 (FY 2021) spending and $900 billion COVID-19 relief bill that will be considered by Congress today. 

Wednesday, December 16, 2020

The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Thursday’s Federal Register announcing fiscal year 2021 annual adjustment factors (AAFs) for certain contracts signed by owners participating in Section 8 housing assistant payment programs.

Wednesday, December 16, 2020

The Federal Housing Finance Agency (FHFA) today announced affordable housing goals for 2021 for government-sponsored entities (GSEs) Fannie Mae and Freddie Mac. 

Wednesday, December 9, 2020

President-elect Joe Biden will nominate Rep. Marcia Fudge, D-Ohio, to be the Secretary of the U.S. Department of Housing and Urban Development (HUD), according to multiple media outlets.

Tuesday, December 1, 2020

A $908 billion COVID-19 relief stimulus proposal introduced by a bipartisan group of Senators includes $25 billion in emergency rental assistance. The proposal, introduced at a news conference Tuesday, also includes funding for state and local governments, federal unemployment benefits, an extension of the Paycheck Protection Plan and other provisions.

Monday, November 30, 2020

President-elect Joe Biden today formally nominated Janet Yellen to be his Secretary of the Treasury. Yellen, the chairwoman of the Federal Reserve from 2014-2018, would be the 78th Treasury Secretary and first woman to hold the position if confirmed by the U.S. Senate.

Wednesday, November 25, 2020

The U.S. Department of Housing and Urban Development will publish in Friday’s Federal Register the operating cost adjustment factors (OCAFs) for 2021 for project-based assistance Section 8 contracts with an anniversary date of Feb. 11, 2021, or later. OCAFs adjust Section 8 rents renewed under Section 515 or Section 524 of the Multifamily Assisted Housing Reform and Affordability Act of 1997. The median U.S.

Thursday, November 19, 2020

The ongoing affordable housing crisis, COVID-19 pandemic, social unrest and effects of climate change combine to require a “comprehensive re-envisioning of national housing policy,” according to the “The State of the Nation’s Housing 2020,” an annual report released today by the Joint Center for Housing Studies of Harvard University.

Thursday, November 12, 2020

The U.S. Department of Housing and Urban Development (HUD) today announced that the Rental Assistance Demonstration (RAD) program has facilitated more than $10 billion in capital investment to improve or replace 140,000 public housing units. RAD was launched in 2012 and allows public housing and HUD’s other non-public housing legacy rental assistance programs to convert to Section 8 funding with private ownership.

Tuesday, November 10, 2020

The U.S. Department of Housing and Urban Development (HUD) will publish a notification in Thursday’s Federal Register to establish an expedited process for the review of requests for relief from HUD Section 8 and public housing requirements by public housing agencies located in counties that are included in presidentially declared major disaster declarations in calendar years 2020 and 2021.

Monday, November 2, 2020

A blog post by Novogradac’s Mark Shelburne provides insight and explanation of the Internal Revenue Service (IRS) notice of proposed rulemaking for the low-income housing tax credit (LIHTC) average income minimum set-aside.

Thursday, October 29, 2020

The Internal Revenue Service (IRS) will publish in Friday’s Federal Register a notice of proposed rulemaking on low-income housing tax credit (LIHTC) average income test regulations. The proposed regulations would provide that if a project has multiple over-income homes it does not need to meet the next-available-unit rule in a particular order.

Thursday, October 22, 2020

The Senate Budget Committee today released a majority staff report that labels the federal government’s approach to housing assistance “overly complex” and calls on Congress to take steps to improve the system. “Housing Programs: The Need for One Roof,” calls for programs to merge and simplify, citing public housing, housing choice vouchers and Section 8 project-based rental assistance as being duplicative.

Thursday, October 22, 2020

The Mississippi Rental Assistance Grant Program began accepting applications today from eligible rental businesses and will continue to accept applications until Nov. 15 at 11:59 p.m. The program provides grants to property owners to help them recover rental income lost due to the COVID-19 pandemic between March 1 and Dec. 30. The maximum grant to an eligible rental business is $30,000.

Thursday, October 8, 2020

A bipartisan group of House of Representatives members introduced legislation this week that would allow private activity bonds (PABs) used to finance the preservation of public housing and other federally assisted buildings to be exempt from the state’s volume cap. The Support Allowing Volume Exception (SAVE) for Federally Assisted Housing Act (H.R. 8533) was introduced by Rep.