The Kentucky Board of Tax Appeals recently ruled that an appraiser valuing a LIHTC site must consider the rental restrictions placed on the site. The board considered the assessed value of a 20-unit site subject to the federal LIHTC income and rent restrictions. The county’s valuation...
HUD recently announced a settlement agreement with Maryland’s Baltimore County over federal discrimination complaints filed in 2011. The complaints revolve around an issue that’s been playing out across the nation. The issue involves whether state and local governments may be...
The Justice Department recently announced that the owners and developers of 71 multifamily housing sites in four states have agreed to pay $350,000 to settle claims that they violated federal fair housing law by building apartment complexes that were inaccessible to persons with disabilities....
HUD recently published a notice accepting public comment on the latest revision of the statutorily mandated collection of information on tenants in LIHTC sites. The information collection is mandated by the Housing and Economic Recovery Act (HERA) of 2008, and requires state and local agencies...
The Center for Housing Policy at the National Housing Conference recently released its annual Housing Landscape 2016 report. It finds that more low- and moderate-income (LMI) working households are renting as opposed to owning their homes, with the share of households who rent increasing from 50...
On Feb. 12, Democratic presidential candidate and former Secretary of State Hillary Clinton released her “Breaking Every Barrier Agenda,” an economic plan that includes several proposals to address the affordable rental housing crisis.
HUD recently issued notice 2016-01 announcing the passbook savings rate used to determine annual income from net family assets. It will become effective Feb. 1, 2016. In addition to HUD programs, the imputed interest rate is also used to calculate annual income at LIHTC sites when a family has...
In anticipation of funding from the National Housing Trust Fund (HTF) this year, housing agencies have been developing allocation plans and seeking input from constituents. The HTF is the newest source of affordable housing funding. It is a new rental housing program for extremely low- and very...
According to a report entitled “Budget and Economic Outlook: 2016 to 2026” by the Congressional Budget Office (CBO), in 2016, the federal budget deficit will increase, in relation to the size of the economy, for the first time since 2009.
The Federal Housing Finance Agency (FHFA) recently released its proposed “Duty to Serve” rule, which would require the Government-Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac to support housing for lower income families in three underserved segments of the housing finance...
Congress has passed and the president, on Dec. 18, signed the Protecting Americans from Tax Hikes (PATH) Act of 2016. The legislation makes permanent the minimum 9 percent low-income housing tax credit (LIHTC) applicable percentage or rate for federally unsubsidized developments. This doesn...
