On April 8, 2025, the federal Affordable Housing Credit Improvement Act (“AHCIA”) was reintroduced in the House with 117 bipartisan co-sponsors from over 30 different states. The bill would expand the Low-Income Housing Tax...more
4/11/2025
/ Affordable Housing ,
Federal Funding ,
Housing Developers ,
Incentives ,
Legislative Agendas ,
New Legislation ,
Popular ,
Proposed Legislation ,
Real Estate Development ,
State and Local Government ,
Tax Credits ,
U.S. Treasury
New York Local Law 97 (“LL97”) is a landmark piece of climate legislation enacted as part of New York City’s broader Climate Mobilization Act. Passed in 2019, LL97 aims to drastically reduce greenhouse gas emissions from...more
The New York State Office of Cannabis Management (“OCM”) recently announced it has created a Cannabis Banking Directory (the “Directory”), which currently lists 10 financial institutions servicing cannabis businesses and open...more
On Jan. 31, 2025, a federal district court in Rhode Island entered a temporary restraining order (“TRO”) prohibiting all federal agencies from pausing, canceling or terminating any awards or obligations as directed by an...more
The U.S. Congress is currently considering the “Accelerated Supply of Affordable Production [ASAP] Housing Act” (the “Act”), legislation to address the nationwide affordable housing shortage and surrounding real estate...more
10/30/2024
/ Affordable Housing ,
Bonds ,
Community Development ,
Housing Developers ,
Housing Market ,
Investors ,
Real Estate Development ,
Real Estate Market ,
Rental Property ,
Tax Credits ,
Urban Planning & Development
The U.S. Congress is currently considering the “Revitalizing Downtowns and Main Streets Act” (the “Act”), legislation aiming to address changes in the post-pandemic real estate market and the nationwide affordable housing...more
A number of affordable housing components of the New York State Budget Bill are worth calling out for developers, as the moves, along with the hundreds of millions of dollars coming from the state, should spur...more
The U.S. House of Representatives overwhelmingly passed legislation this week that is predicted to finance hundreds of thousands of affordable housing units, helping New York City and state housing agencies struggling to meet...more
The New York State Association for Affordable Housing (NYSAFAH) and its fellow partners successfully lobbied with the NYS Housing Trust Fund Corporation to modify its standard Housing Trust Fund lease. Section 20 of the...more
The New York State legislature is evaluating proposed changes to New York City’s Commercial Property Assessed Clean Energy (“C-PACE”) program that could lead to a surge in lending in this emerging market space.
New York...more
Governor Kathy Hochul recently signed legislation authorizing a new tax abatement to promote improvements to affordable housing in New York City. In June 2023, lawmakers in New York State passed the Affordable Housing...more
During the waning hours of the 2023 legislative session, New York lawmakers passed the Affordable Housing Rehabilitation Program (the “Program”) to replace the lapsed J-51 tax break that expired on July 1, 2022. Similar to...more
On May 1, 2023, new loan-level price adjustments (“LLPAs”) for single-family mortgages purchased by Fannie Mae and Freddie Mac (the “agencies”) went into effect. The Federal Housing Finance Agency (“FHFA”) – the independent...more
On Monday, December 5, 2022, Empire State Development (“ESD”) announced that it will be providing up to $200 million in grants for the preparation and development of commercial sites across New York state to promote...more