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HUD Expands LIHTC Pilot to New Construction and Substantial Rehab Projects

February 28, 2019    

HUD’s Office of Multifamily Housing Programs recently published a Housing Notice and related Mortgagee Letter that expands the use of an LIHTC pilot program into New Construction and Substantial Rehabilitation loan products under Sections 221(d)(4) and 220.

Missouri Senate Gives Initial Approval to Restore State LIHTC

February 28, 2019    

More than a year after the Missouri Housing Development Commission voted to freeze the state’s LIHTC program, the Missouri State Senate recently signaled initial approval to bring it back with a few changes. Senate Bill 28 would set the state’s cap on spending to a 72.5 percent match...

Democratic Presidential Candidates Introduce Affordable Housing Proposals

February 28, 2019    

Several 2020 presidential candidates have introduced housing proposals. Three of the top Democratic contenders in 2020, Senators Kamala Harris, Cory Booker, and Elizabeth Warren, have already introduced major proposals in the Senate that would reshape affordable housing in America.

Natural Disaster Events Exceed $1B in Damage in 2018

January 30, 2019    

CoreLogic, a financial services company providing financial and property information analytics, recently released its 2018 Natural Hazard report. The report examines the impact of last year’s natural disasters on residential and commercial real estate. According to the National Oceanic and...

Final IRS Opportunity Zone Regs Eagerly Awaited

January 30, 2019    

Since the government has been reopened temporarily, developers and property owners have been anticipating IRS guidance on the new Qualified Opportunity Zone (QOZ) provisions included in the Tax Cuts and Jobs Act. The QOZ incentive provision allows taxpayers who recognize a gain from the sale of...

Survey: Municipal Leaders Want to Boost Housing Unit Supply

January 30, 2019    

The Boston University Initiative on Cities recently announced the results of its 2018 Menino Survey of Mayors, a nationally representative survey of mayoral thoughts and challenges on today’s top issues. According to the survey, which is based on interviews with a representative sample of...

Trump Resubmits IRS Chief Counsel Nomination

January 30, 2019    

The IRS Chief Counsel is appointed by the President of the United States, with the advice and consent of the U.S. Senate, and serves as the chief legal advisor to the IRS Commissioner on all matters pertaining to the interpretation, administration, and enforcement of the Internal Revenue Code,...

Single Parent Exception to the Student Rule

December 23, 2018    

Q As I understand it, there’s an exception to the student rule for a single parent. At what age is the child no longer considered a child or a full-time student for the purposes...

President Trump Nominates Mark Calabria to Be FHFA Director

December 23, 2018    

President Donald Trump recently announced that he would nominate Mark Calabria, chief economist to Vice President Mike Pence, to be the new director of the Federal Housing Finance Agency (FHFA) for a term of five years. Prior to his current position in the administration, Mr. Calabria was...

Report Examines Relationship Between Rent Affordability and Homelessness

December 23, 2018    

A recent report from Zillow Research titled, “Homelessness Rises More Quickly Where Rent Exceeds a Third of Income,” looked at the relationship between rent affordability and homelessness. The report found that communities where the median rent is more than 32 percent of the median...

JCHS Releases Housing for Older Adults Report

December 23, 2018    

The Joint Center for Housing Studies of Harvard University released a study highlighting housing needs as the U.S. population ages. More than half of the nation’s householders are at least 50 years of age, and more than one-quarter are at least 65 years of age. Between 2011 and 2016, the...

IRS Sets 2019 Caps for LIHTCs, Bonds

November 29, 2018    

The IRS recently announced an increase in the low-income housing tax credit (LIHTC) and private-activity bond caps for 2019. Revenue Procedure 2018-57 sets the 2019 amounts used to calculate each state’s LIHTC ceiling at the greater of $2.76 multiplied by the state population, or $3,166,...