Seyfarth Synopsis: With the cooperation of federal agencies such as the Department of Housing and Urban Development (HUD) and the Department of Transportation (DOT), the White House has established plans to use grants and...more
This week, the Trump administration released its proposed budget for the 2019 fiscal year. Overall, the budget proposes an $8.8 billion (18.3%) reduction in the HUD budget from the 2017 enacted level, a more drastic cut than...more
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
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
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
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
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