HUD: Rental Assitance Demonstration Conversion Closed in Cookeville, TN to Support 48 New Affordable Rental Homes
Transaction with Highlands Residential Services is first phase of redevelopment effort to preserve almost 500 deeply affordable homes within growing area. The U.S. Department of Housing and Urban Development’s Office of Multifamily Housing is announcing today that it recently closed a Rental Assistance Demonstration (RAD) transaction with Highlands Residential Services (HRS), the Housing Authority in…
HUD: Unprecedented $379 Million in Choice Neighborhoods Funding Announced
HUD’s Signature Place-Based Program Available to Cities of All Sizes The U.S. Department of Housing and Urban Development (HUD) today announced the availability of an historically-high $379 million in Choice Neighborhoods Implementation (CNI) Grants to communities across the country. The CNI Grants will transform public and other HUD-assisted housing, as well as surrounding neighborhoods. Public housing authorities,…
HUD: $5 Million Funding Opportunity Announced to Support Housing and Infrastructure Investments in Disadvantaged Communities
The U.S. Department of Housing and Urban Development (HUD) today announced the availability of $5 million through the Thriving Communities Technical Assistance program. The Thriving Communities program will help strengthen local capacity to align transformational infrastructure projects funded by the Bipartisan Infrastructure Law with other crucial investments, such as affordable housing. “Affordable housing investments must…
HUD: FHA Insures $46.9 Million Mortgage to Preserve Affordable Housing in Chicago, IL
Insurance endorsement provided by FHA preserves 272 affordable rental homes at Barbara Jean Wright Court Apartments The Federal Housing Administration (FHA) announced today that it has recently closed on a $46.9 million loan insured under FHA’s 221(d)(4) Substantial Rehabilitation Insurance program for Barbara Jean Wright Court Apartments in Chicago, Illinois. Through FHA-insured affordable mortgage financing…
HUD: Section 202 Project Rental Assistance Renewal Contract Term Increases Announced
New, five-year rental assistance renewal contract terms reduce administrative barriers within program supporting housing for low-income seniors. The U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs announced its intent to begin issuing Section 202 Project Rental Assistance Contracts (PRACs) with renewal terms of up to five years rather than the one-year terms…
HUD and Census Bureau: New American Housing Survey Released
2021 Survey Provides Insights on Housing From the Height of the Pandemic In general, 2020 and 2021 were good for homeowners but presented challenges for many renters. That’s according to the new 2021 American Housing Survey released today by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. Every two…
FHFA: New Rule Proposed to Help Enterprises Better Serve Colonias
Amendments will remove barriers to Enterprise Duty to Serve activities in high-needs rural regions The Federal Housing Finance Agency (FHFA) today proposed to amend the Agency’s Duty to Serve (DTS) Underserved Markets regulation to facilitate Fannie Mae and Freddie Mac’s (the Enterprises) activities related to serving colonias. “FHFA is committed to promoting affordability, equity, and…
HUD: $5 Million Awarded to Modify and Repair Low-Income Veterans’ Homes
Funding Expected to Support 330 Veterans with Low Incomes and Disabilities The U.S. Department of Housing and Urban Development (HUD), in partnership with the U.S. Department of Veterans Affairs, today awarded $5 million in $1 million allotments to five non-profits in support of the Veterans Housing Rehabilitation and Modification Pilot Program (VHRMP). The awardees of…
HUD: Eighteen Public Housing Authorities Selected for New Asset Building Moving to Work Demonstration Cohort
Asset Building Cohort a Key Component of Secretary Fudge’s Economic Justice Agenda The U.S. Department of Housing and Urban Development (HUD) on September 27, 2022 announced the Asset Building cohort of the expansion of the Moving to Work (MTW) Demonstration Program. Through this cohort, HUD will evaluate asset building activities that encourage the creation and…
FHFA: Annual Report on Low-Income Housing and Community Development Activities at the FHLBs Released
Today, the Federal Housing Finance Agency (FHFA) released its annual report on the low-income housing and community development activities of the Federal Home Loan Banks (FHLBanks). The report highlights the FHLBanks’ activities and performance in 2021 through the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investment Cash Advance Program (CICA)….