Federal Update
Senate Passes THYD Spending Bill
On August 1, the United States Senate voted 92-6 to approve its FY19 Transportation-HUD (THUD) spending bill. The bill funds HUD programs with more than $1 billion over the House proposal, and more than $12 million more than the President’s proposal. To see an updated spreadsheet of the budget, visit Enterprise’s blog. To see a deep analysis of the bill, visit NLIHC’s website.
New Talking Points for 4%
The ACTION Campaign has released a new fact sheet explaining how the 4 percent Low-Income Housing Tax Credit (Housing Credit) works in conjunction with multifamily Housing Bonds and why it is critical that Congress enact a minimum 4 percent Credit rate. Visit the ACTION Campaign’s Advocacy Toolkit to access this fact sheet, along with other advocacy resources to support the Housing Credit.
State Update
QAP Draft Released
The first draft of the 2019 Qualified Allocation Plan, Major Revisions Memo, Draft Appendix B, and Appendix H are now available on the Agency website: 2019 QAP.The Agency welcomes feedback on the draft 2019 Qualified Allocation Plan. Comments are due by August 31, 2018 to rentalhelp@nchfa.com.
2018 LIHTC Awards Announced
The 2018 Housing Credit Awards are now posted on the Agency website. This year, credits were awarded to 38 projects in 30 counties totaling 2,610 units. Awards were also made to 10 tax-exempt bond projects totaling 1,412 units.
Local Update
Durham Jackson Street Project Awarded Tax Credits
The Jackson-Pettigrew project was planned when former Mayor Bill Bell was in office. The council approved preliminary plans last fall, then submitted its application for the tax credit in January. According to a statement from the City of Durham, the award amounts to about $9 million of the $17 million project, now known as the Willard Street Apartments. Construction could begin as early as next summer and wrap up in 2020. There will be 39 one-bedroom apartments and 43 two-bedroom apartments. There will also be office and retail space as well as a parking structure.
Reports
Enterprise: Housing Vacancy Survey Report
