Affordable Housing

News & Analysis as of

FHA Low Income Housing Tax Credit Pilot Program Revisions

In February 2012, the United States Department of Housing and Urban Development (HUD) launched the FHA Low Income Housing Tax Credit Pilot program under the mandate of the Housing and Economic Recovery Act of 2008 for the...more

Latest Community Infrastructure Levy Amendment Regulations come into force

The latest round of amendments to the Community Infrastructure Levy (CIL) Regulations 2010 have come into force. Key changes are: - Phased payment of CIL for hybrid and other multi-phase consents - CIL can be...more

New FHFA Head Will Delay Proposed Mortgage Fee Hike

Former North Carolina congressman and the new head of the Federal Housing Finance Agency (FHFA), Mel Watt, has given the public a sneak peek of how he will lead the FHFA. On December 20 he released a statement expressing his...more

Right of First Refusal Act in Prince George's County, Md., Impacts Multifamily Rental Properties

Prince George's County Council recently passed CB-27-2013 (Conversion of Rental Housing), to regulate the sale of multifamily rental housing under certain circumstances to protect quality low- and moderate-income affordable...more

Financial Services Bulletin: Action At Federal Agencies

Agencies Adopt Final Rules Exempting Certain Higher-Price Mortgage Loans from Appraisal Requirements - On Thursday, December 12, 2013, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal...more

Spotlight on Density Incentives in CR Zones

With the zoning rewrite work sessions as a backdrop, Councilmembers George Leventhal and Marc Elrich have resurrected their dissatisfaction with the "incentive density point" distribution under CR Zone. The following...more

Legislative Proposals to Reform the GSEs

Two bills have emerged as dueling proposals to reform the GSEs: the Housing Finance Reform and Taxpayer Reform Act (the “Corker-Warner Bill”) in the Senate, and the Protecting American Taxpayers and Homeowners Act of 2013...more

Inclusionary Housing on the Run

Several recent legal developments have cast doubt on the ability of California cities to continue using favored tools to promote construction of “inclusionary” affordable housing units. Few would dispute that the state faces...more

San Jose Case Could Change the Way Cities, Counties Adopt and Enforce Affordable Housing Ordinances

BB&K Attorney Christopher Diaz Examines the Issues Raised by the California Case - Although the housing bubble may have burst a few years back, there is still one region in California where housing prices remained red...more

HUD Issues New Public Housing Capital Fund Rule

The final rule for the Public Housing Capital Fund Program (Capital Fund) recently released by the U.S. Department of Housing and Urban Development (HUD) makes significant changes to the Capital Fund. Noteworthy...more

Mississippi Supreme Court Upholds the Net Operating Income Method for Determining True Value of Affordable Housing

In a much anticipated decision, on October 17, 2013, the Mississippi Supreme Court upheld the Income Approach to Valuation of Affordable Housing, which is a significant victory for affordable housing developers and the larger...more

California Supreme Court Makes It Easier To Challenge Local Affordable Housing Requirements

Under the Mitigation Fee Act, when a city imposes a fee, dedication, reservation or other exaction on a development project, the developer has the right to pay under protest, obtain the necessary project approvals and proceed...more

Mitigation Fee Act Applies to Developer’s Challenge of City’s Affordable Housing Set Aside Requirements

As required under its “inclusionary housing” ordinance, Palo Alto required a developer to set aside 10 condominium units as below market rate housing and make a cash payment to the City as a condition of obtaining a tentative...more

California Supreme Court Holds Mitigation Fee Act Applies to Inclusionary Housing

Yesterday, the California Supreme Court decided one of two pending cases dealing with inclusionary housing, holding that when a public agency requires a developer to convey units at below market rates and make substantial...more

California Supreme Court to Review Inclusionary Housing Requirements

On September 11, 2013, the California Supreme Court granted the California Building Industry Association's (CBIA) petition for review challenging a San Jose ordinance that imposed "inclusionary" housing obligations on housing...more

New Jersey Supreme Court Invalidates COAH’s Third Round Rules

Today, a divided Supreme Court of New Jersey invalidated the affordable housing rules adopted by the Council on Affordable Housing (“COAH”) in the case entitled In re Adoption of N.J.A.C. 5:94 and 5:95. The matter came before...more

An End to Inclusionary Housing Requirements

The California Supreme Court has agreed to review the legality of a city’s inclusionary housing ordinance (IHO). At issue is the IHO adopted by San Jose. The IHO applies to new developments of 20 or more residential...more

California Supreme Court Set to Hear First Post-Koontz Takings Case

As reported by our colleague Robert Thomas on inversecondemnation.com, the California Supreme Court granted the California Building Industry Association's (CBIA) petition for review in California Building Industry Association...more

Update: Attorney Fees Provision in Government Code Section 65589.5(k) is Limited to Affordable Housing Developments

An applicant who wanted to subdivide a parcel of land into residential lots sought an award of attorney fees after he sued a county’s board of supervisors and won approval of his application. The court of appeal held that...more

Lowering the Floor for Density Bonus Requirements

In Latinos Unidos del Valle de Napa y Solano v. County of Napa, 217 Cal.App.4th 1160 (2013), the First District Court of Appeal invalidated portions of Napa County’s density bonus ordinance because it imposed more rigorous...more

Attorney fees only awarded to developers of affordable housing projects

In Honchariw v. County of Stanislaus, the California Court of Appeal for the Fifth Appellate District ruled that the housing developer was not entitled to attorney fees under California Government Code § 65589.5(k) because...more

President Obama Outlines Housing Finance Reform Principles

On August 6, President Obama delivered remarks on federal housing policy, which included the President’s four core principles for single-family housing finance reform...more

Making Home Affordable Supplemental Directive

On July 30, the Obama Administration released a supplemental directive providing updates to the Making Home Affordable program, specially with respect to the Second Lien Modification Program (2MP)....more

New Decision Helps Multifamily Developers by Striking Down a Restrictive Local Ordinance

On July 11, 2013, in Latinos Unidos del Valle de Napa y Solano v. County of Napa (A135094), the First District reversed and remanded a trial court's decision that Napa County's restrictive density bonus ordinance did not...more

Court of Appeal Upholds San Jose Inclusionary Housing Ordinance as Legitimate Exercise of Local Police Power

In a recent decision, California's Sixth District Court of Appeal reversed a trial court order and upheld the City of San Jose's Inclusionary Housing Ordinance as a legitimate exercise of the local police power. California...more

35 Results
|
View per page
Page: of 2