On October 2, the Baker-Polito Administration announced $3.2 million in awards for the production of 32 new affordable housing units in three communities,Falmouth, Northampton, and Newburyport, supported by the Community Scale Housing Initiative.
Housing News
Last week, President Trump signed a spending package that will fund the Departments of Labor, Health & Human Services, Education, and Defense, as well as a Continuing Resolution (CR) that will fund the rest of the government through December 7th. This avoided a potential government shutdown on October 1, the start of the federal government's next fiscal year, FY2019.
On Saturday, Trump administration officials announced on the Department of Homeland Security website that immigrants who legally use public benefits, including Section 8 housing vouchers, could be denied green cards under new rules titled, “Inadmissibility on Public Charge Grounds.”
Senator Warren introduced sweeping legislation that aims to expand housing opportunities, break down barriers to segregation and address the nation’s housing shortage. The bill would make robust investments to the National Housing Trust Fund and other new funds to increase housing production.
Please considering donating to support those impacted by recent gas explosions in Merrimack Valley
In July, the Legislature passed an Economic Development Bill that included language to provide an exemption from the Mortgage Loan Originators (MLO) licensing requirements. It exempts nonprofits who lend exclusively public money from having to get their employees licensed as MLO.
Read CHAPA's September Housing Briefs for state and federal housing updates and recent research and reports.
On September 10, the Massachusetts Department of Housing and Community Development (DHCD) released a Notice of Funding Availability (NOFA) for the Modernization To Independence program. The program will make up to $3 million available through 2021 to federalize and rehabilitate state public housing developments.
On August 28, the Office of the Comptroller of the Currency (OCC) released an Advanced Notice of Proposed Rulemaking (ANPR) for the Community Reinvestment Act (CRA). This is the first step in what is likely at least a yearlong process.
On September 5, the Department of Housing and Community Development (DHCD) issued proposed guidance on the new income averaging set-aside option for the Low Income Housing Tax Credit (LIHTC) program. To download the proposed guidance, click here.
In March, the President signed federal spending legislation that included a change to the federal LIHTC that established a new minimum set-aside election for new LIHTC developments.