News & Analysis as of

Community Development Block Grants

Additional guidance from HUD/Freddie/Fannie/Ginnie/VA on mortgage-related disaster relief for hurricane victims

by Ballard Spahr LLP on

In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more

Trump Administration Proposes $6.2 Billion Budget Cut to HUD

by Miles & Stockbridge P.C. on

Last week the Trump Administration issued its FY2018 federal budget, which begins October 1. The plan would reduce HUD funding by $6.2 billion, changing the agency’s total funding from $46.9 billion in 2017 to $40.7 billion....more

Administration’s OMB budget blueprint proposes 13% cut and elimination of many HUD programs

by Ballard Spahr LLP on

The Office of Management and Budget (“OMB”) released the Trump administration’s budget blueprint today, providing a general overview of the budget request it intends to present to Congress later this Spring. As outlined, the...more

Making the Sausage: Medicaid Block Grants in the 115th Congress

Republicans have been talking about remodeling the Medicaid program through block grants or per capita caps for years. Both block grants and per capita caps are designed to limit federal spending by providing a state with a...more

Environmental Provisions of the FAST Act

by Nossaman LLP on

On December 4, 2015, President Obama signed into law the “Fix America’s Surface Transportation Act,” Public Law 114-94 ("FAST Act"). As finally enacted, the FAST Act exceeds 400 pages in length. This paper reviews those...more

Action Needed – FY 2016 Appropriations Bill may cut HOME program funding by 93%

by Ballard Spahr LLP on

The Fiscal Year 2016 Transportation, Housing and Urban Development, and Related Agencies (THUD) Subcommittee has proposed critical markups to the Year 2016 Appropriations Bill. One of the most dramatic funding cuts all but...more

Sort Through Affordable Housing Development Acronyms

by Pepper Hamilton LLP on

Real estate developers looking to enter the affordable housing marketplace are familiar with the acronym “LIHTC” (low-income housing tax credit), but may be wondering how one works with a public housing agency (PHA) to obtain...more

FHFA Orders Contributions to Housing Trust Fund

by Bilzin Sumberg on

Earlier this month, the Federal Housing Finance Agency (“FHFA”) ordered Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund (“HTF”) and the Capital Magnet Fund (“CMF”). The HTF is a formula...more

HUD issues FY2014 and FY2015 Choice Neighborhoods Implementation Grant NOFA

by Ballard Spahr LLP on

HUD has made $76 million available for communities with HUD-assisted housing through its latest Notice of Funding Availability. Issued last week, the Choice Neighborhoods NOFA will provide funding for four Choice...more

$3.5 billion New Market Tax Credit announcement

by Ballard Spahr LLP on

On June 5, 2014, the U.S. Department of Treasury Community Development Financial Institution Fund (CDFI) announced that 87 Community Development Entities have been selected to receive $3.5 billion in New Market Tax Credit...more

HUD Announces Additional $5 Billion in Recovery Funds for Communities Affected by Hurricane Sandy

by Ballard Spahr LLP on

This week, the U.S. Department of Housing and Urban Development (HUD) announced that it has allocated $5 billion in additional funding to assist targeted communities affected by Hurricane Sandy. This is the second round of...more

HUD Issues Proposed Rule for Affirmatively Furthering Fair Housing

by Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) released a proposed rule for complying with the Fair Housing Act’s requirement that HUD program participants affirmatively further fair housing....more

New Jersey Gets Federal Approval for $1.8 Billion in Hurricane Sandy Aid

by Ballard Spahr LLP on

The Obama administration recently approved more than $1.8 billion in aid to help New Jersey residents and businesses recover from Hurricane Sandy. The Community Development Block Grant (CDBG) funds for New Jersey, part of a...more

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