LIHTC News

HUD: Fair Market Rents for Fiscal Year 2021

August 19, 2020

The 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, 2020

South 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, 2020

The 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, 2020

On 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, 2019

The 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, 2019

President 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