News & Analysis as of

U.S. Treasury Affordable Housing

Seyfarth Shaw LLP

Treasury Secretary Janet L. Yellen Announces New Initiatives to Lower Housing Costs on Behalf of the Biden Administration

Seyfarth Shaw LLP on

Last week, Treasury Secretary Yellen announced new efforts by the Treasury Department to increase the nation’s housing supply. Some of the initiatives Secretary Yellen discussed included...more

Bowditch & Dewey

Massachusetts Communities Use ARPA Funds to Develop Novel Affordable Housing Programs

Bowditch & Dewey on

MassHousing, Boston, Salem and Worcester have introduced novel programs using American Rescue Plan Act (ARPA) funds to create and preserve affordable housing following the U.S. Treasury’s Final Rule on Coronavirus State and...more

Bracewell LLP

Treasury Department and IRS Release Initial Guidance on the New Low-Income Communities Bonus Credit Program

Bracewell LLP on

The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy projects located in designated low-income...more

Ballard Spahr LLP

Treasury Updates Guidance, Easing the Use of Funds for Affordable Housing Development

Ballard Spahr LLP on

Summary - The U.S. Department of Treasury recently updated guidance on the American Rescue Plan Act’s (ARPA) State and Local Fiscal Recovery Funds (SLFRF) and Emergency Rental Assistance 2 (ERA2) programs....more

Bricker Graydon LLP

ARPA cash: Demolition and capital expenses related to vacant and abandoned buildings

Bricker Graydon LLP on

Much ballyhoo has accompanied the U.S. Treasury’s publication in January 2022 of its Final Rule in the use of American Rescue Plan Act (ARPA) funds. Local governments across the country are scrambling to deploy their stimulus...more

Bricker Graydon LLP

ARPA Final Rule - The "B-sides collection": Affordable housing development

Bricker Graydon LLP on

With the U.S. Treasury’s January 2022 release of its Final Rule in the use of American Rescue Plan Act (ARPA) funds, we began publishing this series of articles reviewing the lesser publicized aspects of that guidance (hence,...more

ArentFox Schiff

Municipal VRDO Class Action Survives Banks’ Request for Dismissal

ArentFox Schiff on

Financial institutions should work with outside counsel to ensure that their internal policies and external actions minimize conduct that may violate state and Federal laws and regulations, and incentivize employees to reward...more

Miles & Stockbridge P.C.

Treasury Releases Average Income Set-Aside Proposed Regulations

Miles & Stockbridge P.C. on

In 2017, the Tax Cuts and Jobs Act (the “Act”) added a third minimum set-aside option to qualify a project as a qualified low-income project pursuant to Code Section 42(g)(1)(C) - the Average Income Set-Aside. The Average...more

Holland & Knight LLP

West Coast Real Estate Update: November 2016 #3

Holland & Knight LLP on

Owners, Developers Face Challenges Converting Parking to E-Commerce Delivery Space - Because millennials make up an increasing number of urban residents, owners and developers of apartment and condominium buildings are...more

Morrison & Foerster LLP

CFPB Issues Guiding Principles for Loss Mitigation after HAMP

On August 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) published a new guidance document titled CFPB’s Principles for the Future of Loss Mitigation (the “Guidance”), which outlines a recommended framework for...more

Orrick - Finance 20/20

Treasury and HUD Announce Changes to Making Home Affordable Program

Orrick - Finance 20/20 on

On December 4, Treasury and HUD announced changes to Making Home Affordable (MHA) to better assist struggling homeowners. The changes are designed to motivate homeowners in MHA to continue making timely mortgage payments. The...more

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