• 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

  • 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
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