Affordable Housing

News & Analysis as of

Five Things Multifamily Developers Should Know About Chicago's Revised Affordable Requirements Ordinance

The calculus has shifted for multifamily developers in Chicago who need zoning changes to accomplish development projects. Recent amendments to Chicago’s Affordable Requirements Ordinance (ARO) — Chicago Municipal Code...more

Oakland Proposed Developer Fees Summary

Unlike most large Bay Area cities, Oakland has not charged development impact fees to pay for affordable housing, but that is likely to change soon. The ramifications of a proposal to impose fees on new residential and...more

IRS Releases February 2016 Interest Rates

The 7520 rate for February 2016 will stay at 2.2%. The February 2016 Applicable Federal Interest Rates can be found here. Please see full Article below for more information....more

West Coast Real Estate Update: Jan. 2016 #2

California Senate Proposes $2 Billion on Housing for Homeless - California state senators put forth a proposal on Jan. 4, 2016, to spend $2 billion to build or rehabilitate permanent housing for homeless people,...more

UK Planning Legal Update 2016: What’s the Plan?

There is a huge momentum behind planning and housing reform as the UK government tries to tackle a chronic shortage of housing across the country. The Housing and Planning Bill, the Government’s flagship delivery legislation,...more

Mayor Walsh Updates Boston's Affordable Housing Policy

We previously advised that the Walsh administration’s housing plan included an initiative to change Boston’s Inclusionary Development Policy (IDP). In December of 2015, after nearly a year of study and outreach, Mayor Walsh...more

Top Ten Stories in California Construction for 2015

Cranes, cement trucks, and street closures seem to be everywhere these days, especially in city centers such as San Francisco and Los Angeles. After the meltdown of 2006, real estate development went into hibernation for...more

Affordable Housing: An Unsolvable Riddle in California?

Californians have had no concrete relief in the cost of housing throughout 2015. The state’s Legislative Analyst reported in March that the average California home costs $440,000, which was about two-and-a-half times greater...more

FHFA Proposes Rule on Fannie Mae’s & Freddie Mac’s Duty to Serve Underserved Markets

Pursuant to the Housing and Economic Recovery Act of 2008, which amended the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, federal law requires the Federal National Mortgage Association (Fannie Mae)...more

FHFA Issues Proposed Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets

On December 15, 2015, the Federal Housing Finance Agency issued a proposed rule that would require Fannie Mae and Freddie Mac to provide specific services relating to manufactured housing, affordable housing preservation and...more

Recent Affordable Housing Developments in California and the Los Angeles Region

There are several recent developments in California and in the Los Angeles region affecting the funding of urban redevelopment and the creation of affordable housing. First, the California Legislature passed, and Governor...more

Real Estate and Land Use - December 2015

Not Your First Rodeo—CEQA Exemption for Rodeo Event Upheld - Citizens for Environmental Responsibility v. State of California - Why It Matters: The Third District Court of Appeal upheld the use of a categorical...more

What does the Spending Review and Autumn Statement mean for house-builders and developers?

George Osborne’s Spending Review and Autumn Statement 2015 promises to double the housing budget from 2018/19 and focuses on support for low cost home ownership for first time buyers. We go behind the headlines to see what...more

Two for Further Review?

It's that time of year again. Time for "Further Review." By that, I mean it's football season, and almost every week, millions of Americans watch in anticipation as black-and-white-striped NFL arbiters retreat to the...more

Department of Housing and Urban Development Announces $10 million in Grants for Choice Neighborhoods, Which Now Covers...

Today’s publication of the Department of Housing and Urban Development’s (HUD) Choice Neighborhoods Notice of Funding Availability (NOFA) marks a key milestone in both the White House’s ConnectHome and Broadband Opportunities...more

Inclusive Communities And Disparate Impact Under The Fair Housing Act

In its recent Inclusive Communities decision the Supreme Court held (5-4) that disparate impact claims are cognizable under the Fair Housing Act. The authors discuss disparate impact prior to the case, HUD’s disparate impact...more

Affordable Housing Permit Revoked by Massachusetts Appeals Court

In a recent ruling sure to embolden municipalities seeking to block affordable housing projects, the Massachusetts Appeals Court revoked the approval of a Comprehensive Permit issued under the Anti-Snob Zoning Act, G.L....more

HUD Proposes to "Formalize" Definitions of Harassment and Expand Fair Housing Act Liability

The U.S. Department of Housing and Urban Development (HUD) has released a proposed rule that aims to "formalize standards for use in investigations and adjudications involving alleged harassment on the basis of race, color,...more

Under the Dome: Inside the Maine State House 11/6/2015

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Maine Pulp and Paper Industry Summit on November 17 - “These are not your grandfather’s paper...more

Land Use Matters: Alston & Bird LLP, October 2015

At its October 27, 2015, meeting, the Board of Supervisors voted unanimously to create a new dedicated Affordable Housing Program budget unit and approved setting aside $100 million for the creation and operation of both...more

Department of Labor Reissues Rules on Fiduciaries Investing in “Economically Targeted Investments”

The Department of Labor (DOL) has clarified the fiduciary implications of an employee benefit plan investing in so-called “socially responsible investments,” sometimes referred to as “impact investments” or “economically...more

Fannie Mae Announces New Tools for Lenders

On October 19, Fannie Mae announced four changes: (i) the availability of trended credit data, which may allow a more thorough analysis of borrowers’ credit history; (ii) the availability of nontraditional credit history in...more

Overview of Affordable Housing Programs

Standard & Poor’s (S&P) has rating criteria for municipal and corporate bonds, the proceeds of which are to be used to finance the acquisition, refinancing, or renovation of affordable rental housing communities. These...more

FHFA Finalizes House Price Index Measure for Conforming Loan Limits for Fannie Mae and Freddie Mac

On October 19, 2015, the Federal Housing Finance Agency issued a Final Notice indicating that it will continue to use “expanded-data” House Price Index when establishing Freddie Mac and Fannie Mae’s maximum conforming loan...more

New York City Defends its Community Preference Policy

Introduction - On October 2, 2015, the City of New York moved to dismiss a lawsuit accusing the City of unlawfully perpetuating racial segregation in the housing industry. See Janell Winfield, et al. v. City of New...more

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