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Sign Letter to End Shutdown & Resume HUD Funding!
NLIHC and the Campaign for Housing and Community Development Funding has circulated a national letter calling on Congress and the White House to end the government shutdown and pass HUD and USDA spending bills as soon as possible. On December 21, Congress failed to provide FY19 funding for several federal agencies causing a partial government shutdown, which […] Read More -
Governor Cuomo’s State of the State & Budget
On Tuesday, Governor Cuomo gave his State of the State address in Albany and released his FY2020 Executive Budget, outlining his priorities for the current legislative session. Here is what we currently know about the Executive Budget and the Governor’s legislative priorities for housing. HCR Funding NYS Homes and Community Renewal (HCR) has been reappropriated $2.9 billion. This […] Read More -
HUD Shutdown
The Department of Housing and Urban Development (HUD) and eight other federal government agencies have been closed for 13 days because the President and Congress have failed to come to a consensus on the remaining Fiscal Year 2019 spending bills due to a dispute over border wall funding. You can review HUD’s Contingency Plan for […] Read More -
NYCHA RFP: PACT Sites in Brooklyn
NYCHA has released a Request for Proposals (RFP) seeking submissions from qualified applicants for financing, tenant-in-place rehabilitation, property management, and social services delivery to facilitate the conversion of nine (9) public housing developments, totaling 2,625 units, to a voucher platform under Section 8 of the U.S. Housing Act of 1937, as amended. The deadline to submit […] Read More -
FFB Risk Share Program Expired
The Federal Financing Bank & Risk Sharing (FFB Risk Share) program officially expired on December 31st. It was a flexible financing tool that dramatically lowered the cost of capital for cities and states seeking to finance affordable housing. Since it was introduced ten years ago, the program has financed about 20,000 units nationwide, including 3,000 […] Read More -
NYS Senate Housing Committee Chairs Announced
Sen. Liz Krueger, who was ranking minority member of the Finance Committee last session, will chair this important committee this session. The Finance Committee has influence on budgetary matters and also taxation. Sen. Brian Kavanagh will chair the Housing Committee, an especially critical role this year with rent regulations expiring in June. According to City and State, out of […] Read More -
NYCHA 2.0 Plan Raises Revenue & Focuses on Improved Maintenance
Today, Mayor de Blasio announced a plan to raise revenue and improve maintenance and operations in public housing. Building on his announcement last month to convert 62,000 public housing through RAD and other programs, the Mayor announced plans to maximize revenue through infill and air right sales. In addition, heightened attention is paid to maintenance […] Read More -
Potential Federal Government Shutdown Looming
Last week, the President signed a temporary Continuing Resolution (CR) that will continue to fund the government until December 21st. However, the President and Democratic leaders had a meeting at the White House yesterday and their continued heated dispute over wall funding may prevent Congress from being able to meet this deadline to approve the remaining 7 […] Read More -
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