FHFA: Deemed-Issuance Ratio for 2023 for Uniform Mortgage-Backed Securities Announced
Ratio changes to 53 Percent Fannie Mae and 47 Percent Freddie Mac The Federal Housing Finance Agency (FHFA) today announced the deemed-issuance ratio for the 2023 calendar year in accordance with Internal Revenue Service (IRS) guidelines on the trading of the Uniform Mortgage-Backed Security (UMBS). The deemed-issuance-ratio will be used for diversification reporting on the bonds ultimately…
HUD: 87 Affordable Rental Homes Preserved Through Rental Assistance Demonstration Conversion with the Housing Authority of the City of Little Rock
Recently closed RAD conversion transaction supports affordable rental homes across three properties in southwest Little Rock, AR The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing recently closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of the City of Little Rock, AR, to preserve and rehabilitate 87 affordable rental…
CDFI Fund: CY 2022 Round of New Markets Tax Credit Program Opened
$5 Billion in Allocation Authority Available The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released today the Notice of Allocation Availability (NOAA) for the calendar year (CY) 2022 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of Joliet, IL to Preserve 113 Homes for Low-Income Seniors
Transaction will allow for rental homes at Stevenson Crossing to remain permanently affordable to low-income senior residents. The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing is announcing today that it has closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of Joliet (HAJ) in Joliet, IL, to preserve 113…
HUD: $2 Million Awarded to Assess the Impact of Emergency Rental Assistance on Housing Stability
The U.S. Department of Housing and Urban Development (HUD) today awarded $2 million in funding to assess the impact of the Emergency Rental Assistance (ERA) program. Three awardees, Abt Associates; Princeton University; and the University of Pennsylvania in collaboration with the University of California at Berkeley, will receive the funds under the FY2022 Impact Evaluation…
HUD: Small Communities Win Big with a $1 Million HUD Grant Program
Yesterday, the U.S Department of Housing and Urban Development (HUD) announced a Notice of Funding Opportunity (NOFO) of $1 million through the HOPE VI Main Street Program. This grant program provides assistance to smaller communities in the development of affordable housing that is undertaken in connection with a Main Street revitalization effort. “The beauty of this…
HUD: More Than $148 Million in Supplemental Funding Announced for Multifamily Assisted Housing Property Owners to Combat COVID-19
Owners of properties participating in Multifamily assisted housing programs can apply for reimbursement of costs for property improvements and other measures that protect residents from COVID-19. The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced today that it is opening a new application period for COVID-19 Supplemental Payment (CSP) funding. This…
EDA: $1.8 Million Invested to Improve Stormwater Infrastructure and Support Business Growth in Sebring, FL
Today, U.S. Secretary of Commerce Gina Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $1.8 million grant to the Sebring Airport Authority, Sebring, Florida, for stormwater drainage improvements at Sebring Regional Airport’s Multimodal Logistics Center. This EDA project will increase the region’s capacity to create and grow new businesses in the…
CDFI Fund: $5 Billion in New Markets Tax Credits Awarded to Revitalize Low-Income and Distressed Communities
Treasurer of the United States Chief Lynn Malerba, joined by U.S. Senators Benjamin L. Cardin and Chris Van Hollen, U.S. Representative Kweisi Mfume, and Community Development Financial Institutions Fund (CDFI Fund) Director Jodie Harris, today announced more than $5 billion in New Markets Tax Credit (NMTC) awards nationwide. Speaking at the recently redeveloped Lexington Market,…
HUD: First Round of Funding through New Rapid Response Program Deployed to Address Homelessness in Areas Hit by Disaster
Initial Allocation of $6.8 Million to Florida and Seven of the State’s Localities Today, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge will travel to Orlando, Florida, where she will announce the first round of funding allocations through the department’s new Rapid Unsheltered Survivor Housing (RUSH) program, a rapid response program…