Member Update – Build Back Better
The White House and Congressional leaders began this week to release detailed legislative language of the near-final $1.75 trillion Build Back Better reconciliation legislation—which currently includes $150 billion for affordable housing programs. Federal advocates have noted, however, that one of CHC members’ top priorities—the $30 billion expansion of the Low Income Housing Tax Credit—is not […]
Federal Update for October 2021
The U.S. Department of Housing and Urban Development (HUD) announced this week that it will continue to prohibit the eviction of tenants for nonpayment of rent from HUD-subsidized public housing and properties with project-based rental assistance even after the expiration this fall of state eviction moratoria. The new HUD rule, published on Thursday, requires landlords to provide […]
Federal Update for September 2021
The Biden Administration unveiled an updated plan this week for building and rehabilitating nearly 100,000 additional units of affordable housing, on top of the more than one million affordable units that would be produced by the Build Back Better package moving through Congress. The Administration plan includes the relaunch of a Treasury/HUD program to provide low-cost […]
Federal Update for August 2021 from David Gasson
It is getting busy now! In past updates I indicated there would come a time when the legislative activity in our nation’s capitol was fast and furious. Well, it is August, a month when activity in Washington typically comes to a halt as Senators and Members of Congress flee the beltway for home, vacations & “fact […]
Federal Update for July 2021
The Office of the Comptroller of the Currency announced this week that it will rescind Community Reinvestment Act reform proposal released during the Trump administration—with Acting Comptroller of the Currency Michal Hsu calling the controversial Trump-era rulemaking effort “a false start.” The OCC released an interagency statement with the Federal Reserve and FDIC saying all three banking […]
Federal Update for June 2021 from David Gasson
If you hear a subtle roar in the background and a not so familiar smell beginning to waft in the air, you are sensing the initial commencement of sausage making within the beltway of Washington, DC. After years of sharing a mythical existence in the company of Big Foot and the Loch Ness monster, “infrastructure” negotiations […]
Federal Update for May 2021 from David Gasson
While this will be news to no one reading this update, the Affordable Housing Credit Improvement Act (AHCIA) of 2021 has been introduced. While not the first housing bill out of the blocks it is the most comprehensive and if enacted as proposed, could result in the financing of an additional 2 million units of affordable […]
Federal Update for April 2021 from David Gasson
It is finally Infrastructure week, month and more than likely the year of Infrastructure. The Biden Administration has come out with the American Jobs Plan, which is an odd name for a package that includes so many sectors of economic development. Nonetheless, for housing advocates and practitioners this has the potential to be the single greatest investment […]
Weekly Update for January 15, 2021
This week in affordable housing news: State update: ICYMI – In addition to the significant new investments in affordable housing and federal stimulus funds being passed along to renters in the Governor’s budget last week, the Administration has also proposed sending $600 in direct cash support to four million low-income Californians who qualify for the […]
COVID-19 Update for June 19, 2020
CHC is closely monitoring the state and federal response to COVID-19—and we are working with our members to preserve and protect access to affordable housing: California situation: With the reopening of the economy causing a rise in the state’s numbers of COVID-19 cases, Governor Newsom ordered California residents this week to wear masks at all […]