Federal Update
HUD Reports “Worst Case Housing Needs” Increased In 2015
The number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015, according to a new report released today by the U.S. Department of Housing and Urban Development. HUD reports that in 2015, 8.3 million very low-income unassisted families paid more than half their monthly income for rent, lived in severely substandard housing, or both. Read HUD’s latest estimate of Worst Case Housing Needs.
Predicting DDAs for 2018
Each year the U.S. Department of Housing and Urban Development (HUD) publishes a list of difficult to develop areas (DDAs). Low-income housing tax credit properties located in areas that are designated as DDAs are eligible for a 130 percent boost in eligible basis for determining the amount of LIHTCs a building can generate. Read Novogradac’s article on predicting the location of 2018 DDAs.
State Update
2017 Housing Credit Awards Released
The 2017 Housing Credit Awards were released this afternoon. Credits were awarded to 32 projects in 25 counties totaling 2,150 units. Awards were also made to 11 tax exempt bond projects totaling 943 units. Stay tuned for further analysis.
QAP Draft Released
The first draft of the 2018 Qualified Allocation Plan, Major Revisions Memo and draft Appendix B were released on July 31. The Agency welcomes feedback on the draft 2018 Qualified Allocation Plan. Please submit comments by September 1, 2017 to rentalhelp@nchfa.com
Rep. Adams Plans Event in Charlotte
As part of the roll-out of a resolution to express the urgency of eliminating homelessness, Congresswoman Alma Adams will visit and tour Moore Place on Tuesday, August 15th. The event will begin at 11am with Executive Director, Mr. Stephen McQueen, employees and residents. At 12 noon, Congresswoman Adams will hold a Press Conference in the Community Room at Moore Place to introduce the resolution. To RSVP to this event, contact Hailey Barringer in Rep. Adams office at hailey.barringer@mail.house.gov
Local Update
Charlotte’s Mayoral Candidates Forum
On August 9th, Charlotte’s mayoral candidates sparred over affordable housing. Comments from various candidates spoke to affordability issues, leadership among current councilmembers and questioned if the city should be involved in housing at all. In a time where the affordable housing stock is decreasing, the next Mayor of Charlotte will have to address this growing need for the city.
Reports
The Century Foundation: An Economic Fair Housing Act
National Low Income Housing Coalition: Reforming the Mortgage Interest Deduction: How Tax Reform Can Help End Homelessness and Housing Poverty
