Housing News

On April 10, the House Committee on Ways and Means released its FY2020 state budget proposal.The proposal provides increased funding for the Massachusetts Rental Voucher Program, the Alternative Housing Voucher Program, and Public Housing - three of CHAPA's top priorities for affordable housing, homelessness prevention, and community development resources. The budget also proposes an increase to Housing Consumer Education Centers.

After a month long delay, the Federal Housing Finance Agency (FHFA) this week announced it is providing $244.86 million to the Housing Trust Fund (HTF) and $131.84 million to the Capital Magnet Fund (CMF).  In January, U.S. Senator Jack Reed (D-RI) and Susan Collins (R-ME) sent a letter to FHFA Acting Director Joseph Otting calling on the agency to transfer the funds, as obligated by law.

The Internal Revenue Service (IRS) issued guidance this week that a 2008 clarification to the Low Income Housing Tax Credit’s (LIHTC) general public use requirement extends to Private Activity Bond (PAB) funding received by a LIHTC project.

From Edward A. Hjerpe III, President and CEO of Federal Home Loan Bank of Boston: "I am pleased to announce that Federal Home Loan Bank of Boston will contribute a total of $24.3 million to the 2019 Affordable Housing Program (AHP) and Equity Builder Program (EBP). Of this, $20.7 million will be allocated to the AHP and $3.6 million will be allocated to the EBP.  In 2019, individual AHP application limits will be $650,000 in direct subsidy and $1 million in total subsidy, including the AHP advance interest-rate subsidy. 

We at CHAPA were so pleased to partner with WayFinders earlier this week to present a forum in Springfield, “Who Shapes Local Housing Decision? New Evidence from MA Zoning Meetings”.  

The Community Economic Development Assistance Corporation (CEDAC) seeks Provider Agencies to administer the Home Modification Loan Program (HMLP) on a regional basis. Providers work directly with HMLP applicants throughout the loan process.

Last week the United States House of Representatives passed the Housing Choice Voucher Mobility Demonstration Act of 2019 by a wide bipartisan margin 387-22. This bill enjoyed broad bipartisan support last year too but the Senate did not take the bill up before the end of the session. One of the challenges with starting this demonstration program is funding but The Fiscal Year 2019 Appropriations bill, signed into law a month ago, included $28 million in funding to support the program.

Source: State House News Service By Chris Lisinski BOSTON, MARCH 15, 2019…Although Massachusetts compares favorably to other states, a new report indicates the Commonwealth still has a shortage of affordable housing to meet the needs of its lowest-income residents.

Massachusetts Senator Elizabeth Warren re-introduced sweeping legislation that aims to expand housing opportunities, break down barriers to segregation and address the nation’s housing shortage.

The fiscal year 2020 budget proposal released today by the Trump Administration would deal a critical blow to affordable housing programs that serve communities across the country. In total, the Trump budget would cut funding for the Department of Housing and Urban Development (HUD) by $8.6 billion and incorporates policy changes to enforce work requirements on residents living public housing and other HUD assisted housing.