SBA: 2023 Surety Companies and Agencies Rankings Announced
Today, the U.S. Small Business Administration announced its most active surety companies and agencies for fiscal year 2023. The SBA’s Surety Bond Guarantee (SBG) Program allows small businesses to receive critical backing to compete for major federal, state, and local contracts. In fiscal year 2023, with the assistance of the SBG Program and its surety and bonding…
FHFA: Deemed-Issuance Ratio for Uniform Mortgage-Backed Security Announced for 2024
Ratio remains at 53 Percent Fannie Mae and 47 Percent Freddie Mac The Federal Housing Finance Agency (FHFA) today announced the deemed-issuance ratio for the 2024 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: $25 Million Awarded to Public Housing Agencies to Expand More Housing Choices to Families
Awards to Public Housing Agencies will provide support to families with Housing Choice Vouchers to maximize housing and neighborhood choice. Today, the U.S. Department of Housing and Urban Development (HUD) announced $25 million in Housing Mobility-Related Services awards to 7 Public Housing Agencies (PHAs) across the country. These funds are designed to expand housing choices…
CDFI Fund: Update to NMTC Program Compliance FAQs Released
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Compliance Frequently Asked Questions (FAQs) document for the New Markets Tax Credit Program (NMTC Program) on its website. This document supersedes the December 2022 publication of the FAQs document by adding, revising, or updating select questions from the earlier edition. Updates include: The updated FAQ…
HUD: Affordable Rental Homes in Newport News, VA Preserved and Rehabilitated
$6 million transaction supports revitalization and preservation of 40 affordable housing units for low-income residents The U.S. Department of Housing and Urban Development (HUD) announced today that it has closed a Rental Assistance Demonstration (RAD) transaction with the Newport News Redevelopment and Housing Authority (NNRHA) at Orcutt Townhomes. This transaction allows NNRHA to substantially rehabilitate…
EDA: $4.4 Million Invested for Infrastructure Improvements to Support Business Growth and Development in Louisiana
Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $4.4 million in the state of Louisiana to make critical infrastructure improvements needed to support current and future businesses in regions impacted by recent disasters. The EDA investments announced today are: “President Biden is committed to making sure the…
EDA: 60 Recipients of “Build to Scale” Program Announced in Support of Innovators, Entrepreneurs, and Startups through Regional, Technology-Based Economic Development Strategies
Grantees Represent 36 States, District of Columbia and Puerto Rico Today, the U.S. Department of Commerce announced “Build to Scale” grants awarded to 60 organizations across the country — located in 36 states, the District of Columbia, and Puerto Rico — totaling $53 million for programs that support technology entrepreneurs, catalyze innovation, and fuel economic…
HUD: $50 Million Released to Address Youth Homelessness & New Assistance to Improve Housing Placements for People Experiencing Homelessness and Resolve Encampments
New Funding will support approximately 35 communities to improve response systems for youth homelessness; technical assistance and regulatory flexibilities available to help communities transition people from homelessness to housing. Today, the U.S. Department of Housing and Urban Development (HUD) is announcing new resources, technical assistance, and regulatory flexibilities to support their efforts to address homelessness,…
FHFA: Annual Report Released on 2022 Federal Home Loan Bank Targeted Mission Activities
Today, the Federal Housing Finance Agency (FHFA) released its Report on 2022 Federal Home Loan Bank Targeted Mission Activities. The report highlights the Federal Home Loan Banks’ (FHLBanks) activities and performance in 2022 under the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investment Cash Advance Program (CICA). The report also covers…
CDFI Fund: CY 2023 Round of New Markets Tax Credit Program Opens
$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) 2023 round of the New Markets Tax Credit Program (NMTC Program). The CDFI Fund is posting the NOAA on its website in anticipation…