Congress passed measures strengthening the creation of affordable housing
December 22, 2020Congress passed measures strengthening the creation of affordable housing. Highlights of the bill are as follows: Permanent 4% Housing Credit rate: This is a big victory for housing credit advocates, who have made setting a minimum 4% rate a top priority. The 4% rate will apply to allocations of 4% credits made after December 31st
HUD: Fair Market Rents for Fiscal Year 2021
August 19, 2020The U.S. Department of Housing and Urban Development (HUD) published in last week’s Federal Register a notice of fiscal year 2021 (FY 21) fair market rents (FMRs) for the Housing Choice Voucher program, Moderate Rehabilitation SRO program and other HUD programs. The notice states that the trend factors used to determine FY 21 FMRs include updated economic
Workforce and Senior Affordable Housing Act
June 3, 2020South Carolina has joined seventeen other states by enacting a state based affordable housing program that mirrors the federal LIHTC. The goal is to add critically needed affordable housing to workforce and income restricted seniors. Calling it the “Workforce and Senior Affordable Housing Act” and signed into law on May 14, 2020, the program will
HUD COVID-19 FAQs Update: FHA multifamily closings, loan application processing, construction issues
April 29, 2020The most recent update provides additional guidance regarding the closings of FHA-insured transactions, loan application processing and projects already under construction: Status of Closings Potential Closing Delays. HUD may temporarily pause initial endorsement of new construction and substantial rehab loans that involve tenant-in-place rehab work or tenant relocation, or in areas that have shelter-in-place orders.
Stimulus for Affordable Housing
March 31, 2020On Friday March 27th the U.S. Congress passed the CARES (Coronavirus Aid, Relief, and Economic Security Act) the $2 trillion aid package, and sent it to President Trump. He signed it late Friday. The bill provides more than $12 billion in funding to HUD for housing and homelessness programs. Key Components include: $4B for
Brian Montgomery’s Nominated as HUD’s Deputy Secretary LIHTC Industry Reacts
October 14, 2019The U.S. Department of Housing and Urban Development (HUD) announced on 10/9 that Brian Montgomery has been nominated to serve as Deputy Secretary of HUD. Montgomery, who is also the Assistant Secretary for Housing and Federal Housing Commissioner, would manage the day-to-day operations of the agency and assist the Secretary in leading HUD’s 8,000 employees.
White House Commits to Affordable Housing
June 25, 2019President Donald J. Trump is Tearing Down Red Tape in Order to Build More Affordable Housing We’re lifting up forgotten communities, creating exciting new opportunities, and helping every American find their path to the American Dream. President Donald J. Trump President Donald J. Trump BREAKING GROUND ON AFFORDABLE HOUSING: President Donald J. Trump is working
We are an underwriting surety agency specializing in P&P and other bonds for LIHTC (4% & 9% and state-based programs), Market Rate developers [HUD 221 (d) (4), etc.,] and GCs. We effortlessly guide our clients through the otherwise difficult approval maze with an innate understanding of how the surety companies think, and exactly what is needed for bond approval. Headquartered in Charleston, South Carolina, we are licensed in 50 states and represent clients nationwide. LIHTC Bonds Ltd Co is an affiliate of Carolina Indemnity Group.
