IRS Extends COVID-19 Relief for Low-Income Housing
The relief announced by the IRS includes extended compliance deadlines, as well as a number of temporary waivers and alterations.
Jan 11, 2022
Affordable Housing News
City of Austin opens applications to non-profits for funding land acquisitions and affordable housing construction
The City of Austin’s Community Acquisition Program, a part of Project Connect’s Anti-Displacement initiatives, provides zero-percent interest forgivable and non-forgivable loans to eligible non-profit organizations for the acquisition of property that increases the supply of affordable housing.
New Report Reveals the Challenges of Preserving the Federally Assisted Housing Stock
The 2021 Picture of Preservation is a joint report by the Public and Affordable housing and Research Corporation and the National Low Income Housing Coalition focusing on the challenge of preserving the federally assisted housing stock in the face of the national affordability crisis and chronic underfunding for housing programs.
IRS Releases Guidance on Minimum 4 Percent Housing Credit Rate
On December 1, the Internal Revenue Service (IRS) issued Revenue Ruling 2021-20 and Revenue Procedure 2021-43 providing guidance to address ambiguities related to the application of the Housing Credit 4 percent minimum rate for bond-financed buildings.
Senate Finance Committee releases its Build Back Better Reconciliation Bill
On Friday, November 19, 2021, The House of Representatives passed the Build Back Better (BBB) Act that included a $150 billion investment in affordable housing. The bill includes $12 billion to expand the Low-Income Tax Credit and $6 billion for a new initiative, the Neighborhood Homes Investment Act.
San Antonio’s Housing Bond Committee approves spending plan for the $150 million affordable housing bond
San Antonio’s Housing Bond Committee unanimously approved the spending plan for its $150 million housing bond to fund affordable housing projects and programs. The City Council will review the plan next month and finalize the ballot language in February. The bond ballot will go before voters in May.
New Hope Housing & Star of Hope’s Cornerstone Community receives Urban Land Institute award for excellence in the Americas
The Urban Land Institute (ULI) has awarded New Hope Housing and Star of Hope’s Cornerstone Community with its annual ULI Award for Excellence: The Americas. The 47-acre Cornerstone Community campus includes the Star of Hope Women & Family Development Center and New Hope Housing Reed’s 187 fully-furnished, affordable apartment homes.
Palladium USA closed its fourth affordable Multifamily Development for 2021
Palladium USA closed its fourth affordable Multifamily Development for 2021 with the closing in June of its $55 Million Palladium Simpson Stuart Apartments located at 3440 Simpson Stuart Road in Dallas, Texas.
Blazer breaks ground on Hartwood at Canal Affordable Housing
Houston, Texas — Blazer broke ground in July 2021 on the construction of Hartwood at Canal, a brand-new loft-style multi-family apartment community located in Houston’s Historic Second Ward. Hartwood at Canal offers affordable housing in this 150-unit property that sits at 5601 Canal Street, Houston, Texas 77011 on the northeast corner of Canal Street and N. Latham Street.
City of Austin releases affordable housing goal 2020 Blueprint Scorecard
The City of Austin’s Housing and Planning Department released the 2020 Blueprint scorecard measuring its affordable housing goals. The Scorecards measure goals outlined in the Strategic Housing Blueprint including ensuring the creation, preservation, and equitable spread of affordable housing units across our City while aiming to create affordability accessible to a wide range of incomes.
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