The U.S. Department of Housing and Urban Development (HUD) announced Aug. 9 that the Federal Housing Administration (FHA) will insure mortgages on mixed-use development in OZs under the agency’s Section 220 program. In a speech, HUD Secretary Ben Carson said FHA can be a key partner for developers in OZs. The HUD Section 220 program insures lenders against loss on mortgage default.
The New Hampshire Community Development Finance Authority (CDFA) awarded more than $4 million to a dozen organizations to further their affordable housing and economic development programs.
Herb Collins, co-founder of Boston Capital, died in March after a lifetime of contributions to affordable housing. Collins co-founded Boston Capital in 1974 and championed the passage of the low-income housing tax credit (LIHTC) in 1986. Collins was 89.
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