HUD: FHA Insures $12 Million Mortgage for Urban Redevelopment of Affordable Multifamily Housing in Baltimore
Insurance endorsement provided by FHA supports affordable financing to create 87 rental homes throughout several lots The Federal Housing Administration (FHA) announced on March 17 the final endorsement and completed construction of a $12 million loan insured under FHA’s 221(d)(4) mortgage insurance program for Marshall Gardens in Baltimore, Maryland. The property was named after Thurgood…
HUD: Rental Assistance Demonstration Conversion Transaction Closed with the Housing Authority of Kansas City, MO to Create Mixed-Income Community
Transaction is final part of seven-phase Paseo Gateway redevelopment process The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing on February 25closed a Rental Assistance Demonstration (RAD) transaction with the Housing Authority of Kansas City, Missouri (HAKC) and Brinshore Development, to create 62 mixed-income homes at the new Sam Rodgers Place. Sam…
CDFI Fund: Application Demand for CY 2021 Round of NMTC Program Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced today that it received 199 applications under the calendar year (CY) 2021 round of the New Markets Tax Credit Program (NMTC Program). The NMTC Program advances economic development in economically distressed communities by making tax credit allocations available to Community Development…
CDFI Fund: CY 2021 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) 2021 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is providing the NOAA on its website in anticipation…
CDFI Fund: New Markets Tax Credit Program Native Initiative Request for Proposal Issued
Today, the Community Development Financial Institutions Fund (CDFI Fund) released a Request for Proposal related to a procurement that is part of a broader effort to increase New Markets Tax Credit (NMTC) investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands, and Alaskan Native Village Statistical Areas (NMTC Native Areas). Industry and subject-matter…
FHFA: Increase in the Enterprises’ LITHC Cap Announced
To support underserved markets, each Enterprise can now invest up to $850 million annually in LIHTC Today, to support underserved markets, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises) can each invest up to $850 million annually in the Low-Income Housing Tax Credit (LIHTC) market as equity investors,…
CDFI Fund: $5 Billion in New Markets Tax Credits Announced
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 100 Community Development Entities (CDEs) were awarded tax credit allocations, made through the calendar year (CY)…
CDFI Fund: Request for Information about NMTC Program Native Initiative Released
Today, the Community Development Financial Institutions Fund (CDFI Fund) released a Request for Information related to an upcoming procurement that is part of a broader effort to increase New Markets Tax Credit (NMTC) investment in Federal Indian Reservations, Off-Reservation Trust Lands, Hawaiian Home Lands, and Alaska Native Village Statistical Areas (NMTC Native Areas). Industry and subject-matter experts…
CDFI Fund: Public Data for NMTC Program for FYs 2003-2019 Released
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) today released transaction level data collected on New Markets Tax Credit (NMTC) investments across the nation through fiscal year (FY) 2019. The CDFI Fund requires all Community Development Entities (CDEs) that have been awarded NMTC allocations to submit an annual report detailing…
OCC: Promoting Earned Income Tax Credit Awareness Day
In an effort to make more eligible working families aware of the benefits of the earned income tax credit (EITC), the Office of the Comptroller of the Currency is promoting the 15th annual EITC Awareness Day on January 29. “We continue to encourage more eligible Americans to take advantage of EITCs,” Acting Comptroller of the Currency Blake…