News & Analysis as of

Affordable Housing

Income Averaging Set-Aside – Opportunities and Risks

by Miles & Stockbridge P.C. on

The Consolidated Appropriations Act of 2018, which was signed into law on March 23, 2018, included two provisions affecting the low-income housing tax credit (“LIHTC”) program. One provision temporarily increased the total...more

Sustainable Development Update - May 2018 #4

by Allen Matkins on

Sustainable Development Focus - Trump dials back Obama policy asking agencies to reduce emissions - THE HILL - May 18 President Trump last Thursday replaced an executive order signed by former President Obama that...more

HUD to Reconsider Disparate Impact Rule

by Morrison & Foerster LLP on

The U.S. Department of Housing and Urban Development (HUD) announced that it will “shortly” seek public comment on whether its controversial disparate impact rule is consistent with the Supreme Court’s Inclusive Communities...more

Impacts of the Omnibus Spending Plan on the Affordable Housing Industry

Trump’s Omnibus Spending Plan adopts two key provisions from the proposed Affordable Housing Credit Improvement Act that will strengthen and expand low-income housing credit. 2018 spending plan increases housing credit...more

Sustainable Development Update - May 2018

by Allen Matkins on

Sustainable Development Focus - San Diego shrinks 'granny flat' fees to spur construction amid housing crisis - THE SAN DIEGO UNION-TRIBUNE - May 4 Fees to build “granny flats,” which are often nearly equal to...more

Multifamily Buildings/Solar Energy: May 2018 American Council for an Energy-Efficient Economy Report

The American Council for an Energy-Efficient Economy (“ACEEE”) issued a May 2018 report titled: Our Powers Combined: Energy Efficiency in Solar and Affordable Multifamily Buildings (“Report”) ...more

Proskauer Housing Court Victory Highlights Importance of Universal Representation

by Proskauer For Good on

When I walked into Manhattan Housing Court a few weeks ago, I knew we had a strong case. Our client, a disabled 87-year-old woman, was facing eviction from the rent-controlled apartment where she has been living for more than...more

Alley Dwellings: The Next Frontier Or A Zoning Headache?

by Cozen O'Connor on

As the recent census data show, more people are moving to the District each year and sticking around. While huge cranes dot the skyline in many areas of the city, there may be an unexpected answer to the District’s housing...more

HUD issues new guidance regarding delayed submission of RAD draft closing packages

by Ballard Spahr LLP on

Please find below a memo issued last week by HUD’s Office of Recapitalization regarding the delayed submission of draft closing packages for RAD conversions. ...more

HUD Proposes Increasing Monthly Rental Costs Paid By Low Income Residents Receiving Federal Housing Assistance

by Fox Rothschild LLP on

Earlier today, Ben Carson, the Secretary of the U.S. Department of Housing and Urban Development (HUD), put forward a plan that could significantly change the amounts paid by Americans who live in public housing. The...more

Important planning law changes – are you ready?

by Dentons on

Changes to Environmental Planning and Assessment Act - An amended and completely reorganised version of the Act commenced operation on 1 March 2018. Amongst the myriad innocuous changes were some very significant changes...more

Metro Changes Its Approach to Urban Expansion For The Better

by Tonkon Torp LLP on

Oregon law requires Metro, the regional government for the Portland area, to maintain an urban growth boundary (UGB) that includes enough land to accommodate 20 years of population and employment growth. Addition of new land...more

High Times for Affordable Housing?

As noted in a prior post, the affordable housing industry is struggling to make ends meet after equity pricing took a dive in response to the decreased corporate tax rate under President Trump’s tax reform plan. While some...more

Conforming the 421-a and MIH Programs

Many of our clients have asked us how they can avail themselves of the state’s revamped 421-a tax exemption program — the Affordable New York Housing Program — on a project that is also subject to the city’s Mandatory...more

Captive Insurance Update | Issue No. 1 | 2018 - A summary of state and federal developments in the captive insurance industry

by Downs Rachlin Martin PLLC on

Vermont’s leadership team for captive insurance was remarkably stable in 2017. Governor Phil Scott and Michael Pieciak, the Commissioner of the Department of Financial Regulation (the “DFR”), completed their first full year...more

SB 2 Recording Fees: State Clarifies Exemptions - California and its Cities, Counties and Other Political Subdivisions May be Due...

by Best Best & Krieger LLP on

The State of California, as well as cities, counties and other political subdivisions in the State, are officially exempt from paying a recently enacted $75 fee for document recording. This clarification came with the passage...more

Texas General Land Office Releases Hurricane Harvey State Action Plan

by Locke Lord LLP on

On April 10, the Texas General Land Office (“GLO”) released a draft of the State of Texas Plan for Disaster Recovery: Hurricane Harvey – Round 1 (the “State Action Plan”). The State Action Plan outlines the GLO’s proposed use...more

Comments Due Soon on Latest Proposed Changes to DC Water System Availability Fees - Public Comments Also Sought on Proposed Sewer...

by Holland & Knight LLP on

• Proposed changes to the District of Columbia Water and Sewer Authority's System Availability Fee (SAF) regulations would provide developers credits for providing new affordable housing units. • Proposed sewer service...more

2018 Spending Plan Boosts Funding for Affordable Housing

On March 23, President Trump signed into law the Consolidated Appropriations Act, 2018, a $1.3 trillion spending package that includes a 12.5% increase in low-income housing tax credit allocations over the next four years,...more

West Coast Real Estate Update - April 2018

by Holland & Knight LLP on

Federal Budget Helps Affordable Housing - Advocates for and developers of affordable housing lamented tax cuts passed late last year. A decrease in the corporate tax rate made the low-income housing tax credit (LIHTC)...more

Bipartisan Budget Bill Improves LIHTC Program

by Miles & Stockbridge P.C. on

The corporate rate reductions included in the Tax Cuts and Jobs Act decreased the value of the Low-Income Housing Tax Credit (“LIHTC”) projects because a significant portion of an investor’s return is composed of federal...more

Las microunidades de Miami son la solución para la asequibilidad del inquilino y la rentabilidad del urbanizador

by Bilzin Sumberg on

Las ciudades de los Estados Unidos enfrentan una crisis de asequibilidad y no es distinto lo que sucede con las viviendas en Miami. ...more

Sustainable Development Update - March 2018 #4

by Allen Matkins on

Sustainable Development Focus - U.S. Army targets energy resiliency through microgrid projects - ENERGY MANAGER TODAY - Mar 26 The U.S. Army is using clean energy projects to begin targeting resiliency through...more

“Frivolous” Town Complaint Results in Attorney’s Fees Award for Affordable Housing Developer

by Beveridge & Diamond PC on

The Massachusetts Land Court’s recent award of attorney’s fees to an affordable housing developer serves as a warning to municipalities opposed to affordable housing projects under the Massachusetts affordable housing...more

New Program Provides Tax Benefits by Investing in Texas Opportunity Zones

by Winstead PC on

The Opportunity Zone program was created by the 2017 Tax Cuts and Jobs Act to encourage investment in low-income communities. Under this program (Sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code, the “Statute”), an...more

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