• Federal Policy Updates

    Year-End Federal Tax Priorities: Fixing 4% and Recycled Bonds With a possible year-end tax extenders bill and/or technical corrections tax bill, NYHC is advocating to make Private Activity Bonds more efficient in New York to create more affordable housing. The two ways we hope to achieve this are by: Fixing the 4% LIHTC Rate– By […] Read More
  • NYHC Submits CRA Comments

    NYHC submitted comments in response to the Office of the Comptroller of the Currency’s (OCC) Advanced Notice of Proposed Rulemaking (ANPR) seeking comments regarding the Community Reinvestment Act (CRA) today. CRA requires banks to lend money, provide services and support community development activities in the local communities, where they are chartered to do business or receive […] Read More
  • Treasury Releases Opportunity Zone Guidance

    The Treasury Department has released its Opportunity Zone guidance today. The Opportunity Zone tax incentive was born out of the Tax Cuts and Jobs Act and is designed to attract investments in economically distressed communities nationwide. It allows investors to defer capital gains tax for new investments made in qualified Opportunity Zones. The proposed regulations […] Read More
  • NYHC Submits AFFH Comments to HUD

    NYHC submitted comments today responding to HUD’s Advance Notice of Proposed Rulemaking (Docket No. FR-6123-A-01) regarding HUD’s intent to streamline the Affirmatively Furthering Fair Housing (AFFH) rule. In the ANPR, HUD invited comments on a series of 8 questions that are intended to weaken the AFFH rule via loosening goals around data collection, analysis, reporting, […] Read More
  • Senator Warren Introduces Innovative Housing Bill

    Building on the momentum of affordable housing advocacy across the country, Sen. Elizabeth Warren (D-Mass.) introduced the American Housing and Economic Mobility Act of 2018, a major and wide-sweeping new housing bill that aims to build or rehabilitate more than 3 million new affordable homes over a period of ten years at a cost of nearly […] Read More
  • HUD & USDA Funding Will Continue Until Dec. 7th

    Congress has approved a short-term Continuing Resolution (CR) to temporarily continue funding until December 7th to all government programs without approved FY 2019 spending bills, which affects HUD and USDA housing programs. The bill will now be sent to the White House for final approval. President Trump has stated he intends to keep government open and will sign it. This […] Read More
  • House Approves Hurricane Florence Recovery Funding

    The House of Representatives, on Wednesday, also passed H.R. 302, Federal Aviation Authorization Act of 2018, which includes a $1.68 billion down payment for Hurricane Florence disaster relief. The relief includes $1.14 billion in Community Development Block Grant – Disaster Recovery (CDBG-DR) Program funding for North Carolina to support initial recovery efforts. The Senate will work to […] Read More
  • FFB Risk Share Program In Jeopardy

    Federal Financing Bank and Risk-Sharing Program (FFB Risk Share) was created ten years ago in response to the housing recession. It is a flexible financing tool that dramatically lowers the cost of capital for cities and states seeking to finance affordable housing. Since it was introduced, more than 20,000 affordable homes were financed through this program, which […] Read More
  • RLN Creates NEW Connectors Program!

    The New York Housing Conference Rising Leaders Network (RLN) is proud to announce the creation of the Connectors Program. The program will help expand the networks of RLN members through pairings with established leaders (“Connectors”) in the affordable housing community in New York. The program will kick-off in January, 2019. Each “Connector” is paired with a “Connectee,” a member of […] Read More
  • Forthcoming IRS Guidance on Opportunity Zones

    The IRS submitted Opportunity Zone regulatory guidance to the Office of Information and Regulatory Affairs, a division of the White House Office Management of the Budget (OMB) for review. After OMB conducts a mandated review of the guidance, which must last at least 10 days, and approves of it, it will then be published in the […] Read More