The Spring Street Brief

Episode 79: HUD Announces $1.1 Billion Investment in Tribal Housing HUD announces over $1.1 billion in affordable housing investment for Tribal communities. Learn how this major federal commitment addresses housing disparities in Indian Country and creates opportunities for tribal housing authorities. KEY TAKEAWAYS: • $1.1 billion investment includes grants for new construction, rehabilitation, and preservation of affordable housing on tribal lands • Funding distributed through multiple HUD programs, including Native American Housing Assistance and Self-Determination Act • Tribal communities face severe housing shortages, with homeownership rates significantly below national average • HUD providing technical assistance to tribal housing authorities to strengthen their ability to develop and manage affordable housing • Partnerships that respect tribal sovereignty and prioritize tribal employment and ownership are increasingly attractive to federal funders For tribal housing authorities and developers, this funding creates significant opportunity. Tribal communities can access grants for housing development without the competitive pressure of the broader LIHTC market. However, the application process is complex, and tribal housing authorities must navigate federal requirements and tribal governance structures. The $1.1 billion investment is part of broader federal efforts to address housing disparities. Combined with LIHTC and other programs, this funding demonstrates sustained federal commitment to expanding affordable housing supply across all communities. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 78: Novogradac Projects Record 2026 LIHTC and PAB Volume Novogradac projects 2026 as a record year for LIHTC and private activity bond volume, with equity commitments potentially exceeding $15 billion. Understand the market dynamics driving unprecedented deal flow and what it means for developers. KEY TAKEAWAYS: • IRS's 2026 per-capita LIHTC multiplier of $3.05 is the highest in program history • Combined with slight population growth, this translates to record total LIHTC allocations available nationwide • 25% bond threshold is driving volume by freeing up bond volume cap for additional projects • Syndicators report strong investor appetite for LIHTC equity • Banks are actively competing for LIHTC financing opportunities • Novogradac projects 2026 LIHTC volume could exceed $15 billion in equity commitments, the highest on record However, this volume comes with challenges. Construction costs remain elevated. Gap financing is increasingly constrained. Developers are competing intensely for limited resources. The expanded LIHTC allocation is enabling more deals, but the total capital available is still insufficient to address the nation's affordable housing shortage. For developers and investors, 2026 represents a critical window of opportunity. The expanded LIHTC resources and strong market conditions create favorable conditions for project development. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 77: Georgia SB 476 Caps State LIHTC at 50 Percent of Federal Amount Georgia Senate Bill 476 caps state LIHTC at 50% of federal amounts for 2027+ applications. Discover how this policy shift affects project feasibility and what developers need to know about the 2026 application window. KEY TAKEAWAYS: • Georgia's state LIHTC has been a critical resource for affordable housing developers • New cap limits state credits to maximum of 50% of federal, effectively reducing available capital for many projects • Policy rationale centers on state budget constraints and concerns about program cost • Cap applies to applications submitted in 2027 and beyond; 2026 applications are not affected • Sunset provision in 2031 creates uncertainty about long-term policy direction For Georgia developers, the implications are substantial. Projects that previously layered state and federal LIHTC will now have less total capital available. This could affect project feasibility, particularly for deals in secondary markets or with deeper income targeting. Developers with projects in the pipeline should prioritize 2026 applications to access the full state credit before the cap takes effect. Georgia's cap also signals broader state budget pressures. Other states may consider similar measures if state revenues decline or competing priorities emerge. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 76: Wisconsin Legislation Would Expand State LIHTC from $42M to $100M Annually Wisconsin Senate Bill 942 proposes expanding the state LIHTC program from $42 million to $100 million annually and eliminating bond requirements. Learn how this transformational legislation could reshape Wisconsin's affordable housing market. KEY TAKEAWAYS: • Wisconsin currently has one of the smaller state LIHTC programs relative to its population • Proposed expansion would position Wisconsin among the top states for state-level tax credit support • Bond requirement elimination would allow developers to pursue state LIHTC projects without competing for limited bond volume cap • $100 million annual allocation would enable approximately 400-500 additional units annually • Over a decade, this could produce 4,000-5,000 additional affordable units The bill reflects growing recognition among state policymakers that federal LIHTC alone is insufficient to address housing shortages. States like Illinois, Ohio, and Massachusetts have expanded state credits in recent years. Wisconsin's proposed expansion follows this trend and responds to documented affordable housing shortages in Milwaukee, Madison, and other growing markets. For Wisconsin developers, this legislation represents transformational opportunity. However, the bill must navigate the legislative process, and passage is not guaranteed. State budget constraints and competing priorities could affect the bill's prospects. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 75: IRS Publishes 2026 LIHTC and PAB Population Figures The IRS releases 2026 population figures establishing record LIHTC allocations and private activity bond volume caps. Understand how the $3.05 per-capita multiplier impacts your state's affordable housing pipeline. KEY TAKEAWAYS: • 2026 population figures reflect slight growth from 2025, resulting in record per-capita LIHTC multiplier of $3.05 • This is the highest multiplier in LIHTC history, reflecting population growth and permanent 12% allocation increase under OBBBA • California's 2026 allocation increased by approximately $50 million compared to 2025 • Texas gained roughly $45 million; New York added approximately $35 million • 25% bond threshold reduction means states can finance more LIHTC projects with same volume cap allocation Understanding these figures is essential for developers. The IRS population data determines your state's available LIHTC allocation. Developers should work with their state HFA to understand how much allocation is available, when applications are due, and what the competitive landscape looks like. The record multiplier signals strong market conditions. Syndicators report robust investor appetite for LIHTC equity. Banks are actively competing for LIHTC financing opportunities. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 74: Delaware DSHA 2026 LIHTC Applications Open Through April 30 The Delaware State Housing Authority opens 2026 LIHTC applications with an April 30th deadline. Discover how the 25% bond threshold and expanded allocation create opportunities for Mid-Atlantic developers. KEY TAKEAWAYS: • Delaware's 2026 allocation reflects expanded LIHTC resources under OBBBA • State accepting applications for both 9% competitive credits and 4% credits with tax-exempt bond financing • New 25% bond threshold now in effect, enabling more efficient project structuring for acquisition-rehabilitation deals • Delaware faces limited land availability, high construction costs, and significant affordability gaps • DSHA prioritizing projects serving households at or below 60% of area median income The April 30th deadline is firm and non-negotiable. Developers should ensure applications are complete, including site control documentation, preliminary financing commitments, comprehensive market studies, and local government support letters. DSHA has published detailed application guidelines and is available for pre-application meetings to help developers understand requirements and strengthen proposals. Delaware's relatively small allocation means competition is intense. Developers should prioritize projects that are shovel-ready, have strong local support, and address documented housing needs. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 73: Michigan MSHDA Opens 2026 LIHTC Funding Round The Michigan State Housing Development Authority opens applications for the 2026 LIHTC funding round with expanded resources under OBBBA. Learn about the 25% bond threshold and how it affects your project financing. KEY TAKEAWAYS: • Michigan's 2026 allocation reflects the permanent 12% increase in 9% LIHTC authority under OBBBA • State is accepting applications for both 9% competitive credits and 4% credits with tax-exempt bond financing • 25% bond threshold now in effect, reducing bond financing requirements from 50% to 25% of aggregate eligible basis • Michigan faces an estimated shortage of over 200,000 affordable rental units • MSHDA prioritizing projects serving extremely low-income households and demonstrating strong development capacity Key application requirements include demonstrated experience with similar projects, site control documentation, preliminary financing commitments, comprehensive market studies, and local government support letters. Applications demonstrating readiness to proceed with construction within 12 months score highest in MSHDA's evaluation process. This episode covers Michigan's 2026 LIHTC funding opportunity and what developers need to know to compete successfully. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 72: California AB 2122 Would Allow LIHTC Lease Nonrenewals for Renovations California Assembly Bill 2122 could reshape LIHTC property management by allowing lease nonrenewals for major renovations or sales. Understand the implications for property owners and tenants in the nation's largest LIHTC market. KEY TAKEAWAYS: • Current California law generally requires LIHTC properties to renew leases for eligible tenants • AB 2122 would create exceptions allowing nonrenewal if property is undergoing substantial rehabilitation or being sold • Could affect tens of thousands of LIHTC residents in California, the nation's largest LIHTC market • Property owners argue flexibility is necessary for property preservation and modernization • Tenant advocates warn it could displace vulnerable residents The April 22nd hearing will be critical. Expect testimony from property owners, tenant advocates, housing finance agencies, and community organizations. The outcome could influence similar legislation in other states. California's policy decisions often set precedent for the broader affordable housing industry. For LIHTC property owners in California, this is essential to monitor. If AB 2122 passes, it could significantly change your lease renewal obligations and your ability to execute capital improvement plans. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 71: Five Star Bank Commits $10 Million to San Diego Supportive Housing Five Star Bank announces a major $10 million LIHTC equity commitment to the Marvel in the Mission, a 136-unit permanent supportive housing development in San Diego. Discover what this signals about investor appetite for supportive housing deals. KEY TAKEAWAYS: • 100% of units targeted at or below 30% of area median income • Project combines 4% LIHTC with tax-exempt bond financing, city gap financing, and private equity • Construction costs exceed $600,000 per unit in San Diego • Supportive housing projects demonstrate strong financial performance and deep social impact • On-site wraparound services include case management, mental health services, substance abuse treatment, and employment support For developers and syndicators, this signals continued strong investor interest in supportive housing. Banks and institutional investors recognize both the social impact and the financial stability of supportive housing projects with wraparound services. Supportive housing has lower turnover rates and stronger rent collection than conventional affordable housing. This episode explores the Five Star Bank commitment and what it means for supportive housing development in high-cost markets like San Diego. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Episode 70: Forbes Report Highlights LIHTC Qualified Contract Loophole A critical loophole in LIHTC qualified contracts allows properties to exit affordability requirements after just 30 years. Learn how this impacts 500,000+ affordable units and what preservation strategies are available. KEY TAKEAWAYS: • Properties representing over 500,000 affordable units will reach their 30-year compliance period end between 2026 and 2035 • In some states, this represents 20-30% of the existing LIHTC stock • The Affordable Housing Credit Improvement Act includes preservation provisions that could address this gap • State housing finance agencies are exploring preservation programs and right-of-first-refusal policies For property owners, this creates both risk and opportunity. Owners approaching compliance period end should understand their options for refinancing, preservation, or transition. For developers and syndicators, preservation deals may become increasingly attractive as the market recognizes the value of maintaining affordability. LIHTC preservation is critical to maintaining America's affordable housing stock. This episode breaks down the qualified contract loophole and what it means for your portfolio. Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss state expansion of revolving loan funds for mixed-income housing development.Multiple states expanding revolving loan fund programs for affordable and mixed-income housingFunds offer below-market loans layered with LIHTC to improve project feasibilityRevolving structure allows repayments to support future developmentsWyoming Community Development Authority among states enhancing fund capacityOversubscription in recent rounds indicates strong developer demandRepayment requirement encourages financial discipline while recycling capitalFunds fill widening gap between debt capacity, equity, and total development costsThe expansion of state revolving funds complements federal LIHTC increases under OBBBA. More credit authority creates more deals requiring gap financing.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: revolving loan fund, gap financing, mixed-income housing, LIHTC, affordable housing, state housing finance agency, Wyoming, Community Development Authority, below-market loans, construction costs, OBBBA, One Big Beautiful Bill Act, workforce housing, economic integration, residual receipts, refinancing, capital recycling, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Oklahoma's housing affordability paradox and its implications for LIHTC development.Oklahoma Watch analysis reveals paradox: vacant rental units exist yet affordable options remain scarceDisconnect illustrates limitations of supply-side solutions alone for affordabilityOHFA has made significant LIHTC investments over 50-year historyMismatch persists for extremely low-income renters below 30% AMIMarket-rate vacancy doesn't translate to affordability for lowest-income householdsOHFA QAP includes incentives for lower income tiers but economics remain challenging30% AMI targeting requires substantial additional subsidy beyond LIHTC equityAs LIHTC allocations expand under OBBBA, ensuring production reaches households with greatest need requires intentional QAP targeting and complementary resources like project-based vouchers.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Oklahoma, OHFA, Oklahoma Housing Finance Agency, LIHTC, affordable housing, housing paradox, vacancy rate, extremely low-income, 30% AMI, income targeting, QAP, Qualified Allocation Plan, project-based vouchers, Section 8, Housing Choice Voucher, supply-side, housing shortage, deep affordability, gap financing, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss North Carolina's legislative debate over LIHTC property taxation.North Carolina House Committee considers legislation on LIHTC property tax treatmentSome jurisdictions assess LIHTC properties at values reflecting income-restricted rentsCritics argue reduced assessments shift tax burden to other property ownersAdvocates counter that assessments appropriately reflect deed-restricted market valueHigher property taxes would increase operating costs and potentially threaten financial viabilityNC Housing Finance Agency testified on potential pipeline impacts from changesCommittee examining PILOT agreements and standardized assessment methodologies from other statesDevelopers with North Carolina projects should monitor this legislation closely. Changes could affect pending applications and existing properties approaching compliance period end.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: North Carolina, NCHFA, North Carolina Housing Finance Agency, LIHTC, property tax, tax assessment, deed restriction, income-restricted rents, PILOT, payment in lieu of taxes, operating costs, net operating income, debt capacity, equity pricing, affordable housing production, compliance period, tax loophole, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss FHFA's expansion of GSE LIHTC investment authority.FHFA doubles annual LIHTC equity investment cap for Fannie Mae and Freddie Mac to $2 billion eachTotal GSE LIHTC investment capacity now $4 billion annually, up from $2 billionAt least 50% of investments must support underserved markets20% of underserved allocation specifically directed to rural areasGSE investments provide countercyclical market stability during reduced bank appetite periodsExpanded caps coincide with larger LIHTC pipeline from OBBBA allocation increaseGSE participation valuable for deals in smaller markets less attractive to traditional bank investorsDevelopers should note GSE investments come with specific underwriting requirements and reporting obligations. Work with experienced syndicators for smooth execution.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: FHFA, Federal Housing Finance Agency, Fannie Mae, Freddie Mac, GSE, LIHTC equity, investment cap, underserved markets, rural housing, tax credit investor, syndicator, countercyclical, market stability, OBBBA, affordable housing goals, bank investors, underwriting requirements, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Hawaii's 2026 affordable housing funding round.Hawaii HHFDC announces 2026 funding round combining LIHTC, Hula Mae bonds, and Rental Housing Revolving FundHawaii faces among highest housing costs nationally with Honolulu median rents exceeding $2,500Geographic isolation and limited land create unique development constraints requiring deep subsidyHula Mae program provides tax-exempt bond financing paired with 4% LIHTC25% bond threshold enables more projects to qualify with smaller bond allocationsRental Housing Revolving Fund offers below-market gap financing loansQAP priorities include neighbor island projects and Native Hawaiian community developmentsConstruction costs in Hawaii typically exceed mainland averages by 30% or more. Developers should build appropriate contingencies into applications.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Hawaii, HHFDC, Hawaii Housing Finance and Development Corporation, LIHTC, 4% LIHTC, Hula Mae, tax-exempt bonds, Rental Housing Revolving Fund, Honolulu, neighbor islands, Native Hawaiian, bond volume cap, 25% threshold, construction costs, gap financing, QAP, sustainable building, affordable housing, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Arizona's 2026 funding availability for 9% LIHTC and National Housing Trust Fund resources.Arizona Department of Housing releases 2026 NOFA for 9% LIHTC and National Housing Trust FundNOFA implements 2026-2027 Qualified Allocation Plan for competitive funding round2026 allocation reflects enhanced federal per capita amount following OBBBA increasePriority for projects serving extremely low-income households at or below 30% AMINHTF provides gap financing with 30-year affordability requirements for deeper targetingGeographic set-asides ensure distribution across rural areas, tribal lands, and smaller metrosQAP scoring emphasizes readiness with points for 12-month construction start capabilityArizona faces estimated shortage of over 140,000 affordable rental units, particularly in the Phoenix metropolitan area.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Arizona, Arizona Department of Housing, ADOH, LIHTC, 9% LIHTC, National Housing Trust Fund, NHTF, NOFA, Notice of Funding Availability, QAP, Qualified Allocation Plan, extremely low-income, 30% AMI, Phoenix, Tucson, tribal lands, rural housing, gap financing, site control, affordable housing shortage, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Minnesota Housing Finance Agency's analysis of the One Big Beautiful Bill Act's implementation.Minnesota Housing submits detailed correspondence to state legislators on OBBBA impact12% per capita increase translates to approximately $8 million additional annual credit authorityExpansion enables estimated 400-500 additional affordable units per year in Minnesota25% bond threshold expands eligibility for acquisition-rehabilitation projectsReduced bond proceeds create new gap financing challenges requiring creative solutionsPrivate activity bond volume cap coordination remains essential across four issuing agenciesPermanent allocation increase provides long-term planning certainty for development pipelinesMinnesota Housing is updating underwriting standards and encourages developers to schedule pre-application meetings to discuss project-specific impacts.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Minnesota Housing, Minnesota HFA, OBBBA, One Big Beautiful Bill Act, LIHTC, 9% LIHTC, 4% LIHTC, per capita allocation, private activity bonds, PAB, bond volume cap, acquisition-rehabilitation, gap financing, QAP, Qualified Allocation Plan, underwriting standards, affordable housing production, state housing finance agency, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss CREA's record-breaking LIHTC fund closing.CREA closes largest-ever LIHTC fund at $403 million for affordable housing developments nationwideFund reflects expanded pipeline from 12% OBBBA allocation increase and 25% bond thresholdInvestor base includes regional and national banks seeking CRA credit, insurance companies, and ESG-focused corporationsFund oversubscription indicates capital availability not currently constraining productionPricing in mid-80s to low-90s cents per dollar of credit, consistent with 2026 market trendsFund prioritizes high-opportunity areas and extremely low-income household projectsGeographic diversity across Midwest, Southeast, and Western regionsFor developers, the successful closing signals equity availability for well-structured deals throughout 2026. Key constraints remain gap financing and construction cost management.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: CREA, Community Reinvestment Act, LIHTC fund, tax credit equity, syndicator, affordable housing investment, CRA credit, ESG, OBBBA, One Big Beautiful Bill Act, 25% bond threshold, 4% LIHTC, 9% LIHTC, investor appetite, credit pricing, high-opportunity areas, extremely low-income, gap financing, construction costs, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss HUD's delay of fiscal year 2026 income limits.HUD announces FY 2026 income limits release delayed to May 1, 2026Delay stems from Census Bureau's late release of 2024 American Community Survey dataIncome limits determine tenant eligibility at 30%, 50%, 60%, and 80% AMI thresholdsProperties with April recertifications should continue using 2025 income limits until new figures publishedLease-up properties targeting spring occupancy face particular challengesHUD Secretary Scott Turner emphasizes importance of accurate underlying dataState HFAs expected to issue guidance on QAP applications and compliance monitoringProperty managers should document interim procedures and be prepared to adjust if new limits affect tenant eligibility.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: HUD, income limits, FY 2026, area median income, AMI, Census Bureau, American Community Survey, LIHTC compliance, tenant eligibility, recertification, property management, Section 8, Housing Choice Voucher, lease-up, state housing finance agency, QAP, Scott Turner, affordable housing, income verification, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Treasury Department's correction to 2026 LIHTC state allocation ceilings.Treasury corrects 2026 state ceiling calculations for 9% low-income housing tax creditsRevised figures reflect permanent 12% allocation increase under One Big Beautiful Bill Act2026 state ceiling: greater of $3.416 multiplied by state population or $3,953,600 minimum floorCorrection addresses calculation error that understated allocations in several statesLarge states like California, Texas, and New York gain tens of millions in additional credit authoritySmall state minimum ensures adequate allocations for Wyoming, Vermont, and AlaskaIndustry groups flagged discrepancy; Treasury's swift correction ensures full OBBBA intent realizedState housing finance agencies should update their 2026 allocation projections accordingly. Developers with pending applications should confirm with state agencies whether corrected figures apply to current funding cycles.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Treasury Department, LIHTC, Low-Income Housing Tax Credit, 9% LIHTC, state allocation ceiling, per capita multiplier, One Big Beautiful Bill Act, OBBBA, IRS, state housing finance agency, HFA, QAP, Qualified Allocation Plan, tax credit allocation, affordable housing, small state minimum, California, Texas, New York, Wyoming, Vermont, Alaska, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Enterprise Community Partners' economic impact analysis of the Affordable Housing Credit Improvement Act.Full AHCIA implementation would support 2 million additional affordable homes over ten years50% increase in 9% credit allocations accounts for largest production shareEach dollar of LIHTC generates approximately $9 in total economic activityAnalysis estimates AHCIA would support over 3 million jobsLocal benefits include property tax revenue and reduced homelessness costsExpanded allocations would increase competitive award odds in 9% roundsHousing advocates should share findings with congressional representatives.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Enterprise Community Partners, AHCIA, Affordable Housing Credit Improvement Act, LIHTC, 9% LIHTC, 4% LIHTC, economic impact analysis, job creation, housing production, tax credit expansion, congressional advocacy, QAP, basis boost, minimum 4% rate, housing shortage, affordable rental housing, federal tax expenditure, property tax revenue, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Colorado CHFA's updates to its 4% LIHTC bond process.CHFA releases updated guidance implementing 25% bond threshold from OBBBAReduced threshold enables 4% credits with smaller bond allocationsUpdates affect application procedures, timing, and volume cap allocationRevised application intake windows and streamlined inducement processesProjects may need alternative gap financing to replace bond proceedsCHFA encourages pre-application meetings for financing structure discussionsExpanded 4% pipeline should help address Colorado's production gap.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Colorado, CHFA, Colorado Housing and Finance Authority, 4% LIHTC, private activity bonds, PAB, 25% bond threshold, One Big Beautiful Bill Act, OBBBA, bond volume cap, tax-exempt bonds, inducement, Front Range, gap financing, application process, QAP, affordable housing development, multifamily construction, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Terner Center's report on state affordable housing program administration.Terner Center analyzes QAP processes, application requirements, and timelines across statesProcessing times vary significantly—some states 4 months, others over a yearBest practices include pre-application conferences, electronic portals, standardized templatesAdministrative capacity and staffing challenges constrain many HFAsReport recommends competitive compensation and succession planningRegional cooperation recommended to share best practices across statesComplete applications aligned with QAP priorities consistently outperform.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Terner Center, UC Berkeley, HFA, state housing finance agency, QAP, Qualified Allocation Plan, LIHTC, 9% LIHTC, 4% LIHTC, application process, underwriting, best practices, administrative capacity, staffing, developer, regional cooperation, electronic submissions, pre-application conference, affordable housing development, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Housing for the 21st Century Act's advancement to the Senate.Housing for the 21st Century Act passed House with bipartisan 390-9 voteBill addresses housing supply, affordability, and regulatory modernizationKey provisions include streamlined environmental review processesExpanded flexibility for Community Development Block Grant useReforms to manufactured housing financing through FHA and GSEsMay be combined with ROAD to Housing Act in SenateEnvironmental review streamlining could meaningfully reduce LIHTC predevelopment timelines.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Housing for the 21st Century Act, Congress, bipartisan legislation, NEPA, environmental review, CDBG, Community Development Block Grant, manufactured housing, FHA, Fannie Mae, Freddie Mac, GSE, ROAD to Housing Act, Senate, LIHTC, zoning reform, NMHC, NAHB, Up for Growth, housing supply, affordable housing policy, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Michigan's push for a state affordable housing tax credit.Governor Whitmer includes state housing tax credit in budget recommendationsMichigan is one of largest states without dedicated state housing creditNeighboring Ohio, Indiana, Illinois all offer state credits enhancing federal LIHTCProposed credit could enable 2,000-3,000 additional affordable units annuallyMichigan needs over 200,000 additional affordable rental units per NLIHCMSHDA indicates support and readiness to administer program if enactedDevelopers should engage with legislative advocacy and monitor state budget process.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Michigan, MSHDA, Michigan State Housing Development Authority, state tax credit, LIHTC, 9% LIHTC, 4% LIHTC, Governor Whitmer, affordable housing, NLIHC, National Low Income Housing Coalition, gap financing, construction costs, Ohio, Indiana, Illinois, housing shortage, budget, legislative advocacy, rental housing, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Illinois Housing Development Authority's Next Generation R3 initiative.IHDA announces Next Generation R3 cohort for affordable housing in disinvested communitiesProgram combines LIHTC with state cannabis tax revenue for R3 priority areasR3 zones designated based on poverty, unemployment, incarceration, and mental health accessFunded projects include family, mixed-use, and senior housing across IllinoisAll projects require community engagement and local hiring commitmentsIllinois also implementing new state Affordable Housing Tax CreditSuccessful applicants typically begin community outreach months before LIHTC applications.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Illinois, IHDA, Illinois Housing Development Authority, R3, Restore Reinvest Renew, cannabis tax revenue, LIHTC, 9% LIHTC, 4% LIHTC, racial equity, climate resilience, economic mobility, QAP, community engagement, local hiring, Chicago, state tax credit, predevelopment, soft financing, affordable housing, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Governor Healey's $140 million affordable housing announcement.$140 million in state funding to create over 1,300 affordable unitsFunding from Affordable Housing Trust Fund and other state resourcesPriority given to extremely low-income households, families, and homeless exitsProjects include supportive services for disabilities and behavioral healthMassachusetts combines state LIHTC, Housing Stabilization Fund, and local trusts40B comprehensive permit law enables development in underproducing communitiesDevelopers should monitor MassHousing's funding cycles for upcoming application opportunities.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: Massachusetts, Governor Healey, MassHousing, Affordable Housing Trust Fund, state LIHTC, Housing Stabilization Fund, 40B comprehensive permit, Gateway Cities, supportive housing, extremely low-income, ELI, QAP, housing bond bill, public housing modernization, first-time homebuyer, behavioral health housing, homeless services, affordable housing development, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss HUD's decision to extend the HOTMA implementation deadline for multifamily housing.HUD extends HOTMA multifamily deadline to January 1, 2027Extension provides time for software updates, staff training, and policy revisionsLIHTC adopted HOTMA income provisions effective January 1, 2025Key changes include revised asset income calculations and hardship exemptionsHUD published 2026 adjustment factors for recertification planningIndustry groups cited software vendor readiness and training challengesProperty managers should use the extension productively to ensure full compliance readiness by the new deadline.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: HOTMA, Housing Opportunity Through Modernization Act, HUD, multifamily housing, income calculation, asset income, compliance, recertification, LIHTC, Section 8, Housing Choice Voucher, property management, NAHMA, software compliance, tenant qualification, fixed-income households, student eligibility, income verification, affordable housing, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss TD Bank's 2026 Affordable Housing Survey and market sentiment.Nearly 70% of developers expect to increase affordable housing production in 202685% report material and labor costs exceeding projections from 18 months agoInsurance costs emerging as new pain point, especially in climate-vulnerable regionsAverage development timeline stretched to 36 months from land acquisition to lease-upStrong rental demand and stable LIHTC equity pricing provide confidence30% of developers exploring modular or prefabricated construction, up from 18% in 2024Realistic cost projections and contingency reserves are essential to successful deal execution in this environment.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: TD Bank, developer survey, affordable housing, construction costs, insurance costs, development timeline, LIHTC equity, modular construction, prefabricated housing, HOME program, CDBG, gap financing, California, Massachusetts, Colorado, rental demand, cost containment, syndicator, investor, tax credit pricing, Spring Street Management Group]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Federal Housing Finance Agency's 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac.Combined $176 billion cap for 2026, up from $140 billion in 2025Each GSE receives $88 billion allocation reflecting market growthAt least 50% must be mission-driven targeting affordable and underserved segmentsGSE financing remains essential to LIHTC capital stack for permanent takeoutsHigher caps support expanded 4% LIHTC pipeline from 25% bond thresholdFHFA finalized three-year affordable housing goals through 2027Developers should engage early with GSE lenders to lock rates and secure capacity for projects in the pipeline.Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.Keywords: FHFA, Fannie Mae, Freddie Mac, GSE, multifamily lending, loan purchase cap, DUS, Optigo, affordable housing, LIHTC, 4% LIHTC, 9% LIHTC, permanent financing, workforce housing, rural rental housing, mission-driven lending, housing goals, tax-exempt bonds, private activity bonds, capital stack, Spring Street Management Group]]>

Nevada Senator Jacky Rosen has announced support for bipartisan affordable housing legislation, emphasizing the critical need for housing supply expansion in one of the nation's most cost-burdened states.Supports Housing for the 21st Century Act and ROAD to Housing ActNevada ranks among highest rent burden states nationallyManufactured housing provisions particularly relevant for Nevada marketState faces unique challenges: extreme heat, water resources, seasonal employmentNevada Housing Division implementing 25% bond threshold for 4% LIHTCLas Vegas and Reno have substantial rental housing demand from population growthGrowing bipartisan coalition recognizes housing as kitchen-table economic issueHousing affordability is becoming a priority issue across the political spectrum as rent burdens increase nationwide.Subscribe to The Spring Street Brief for daily updates on housing legislation, state market developments, and affordable housing policy.Keywords: Senator Jacky Rosen, Nevada affordable housing, Housing for the 21st Century Act, ROAD to Housing Act, bipartisan housing legislation, Las Vegas housing, Reno housing, Nevada Housing Division, manufactured housing, rent burden, housing affordability, 25% bond threshold, 4% LIHTC, housing supply, housing policy 2026, Nevada housing market, affordable rental housing, housing legislation, bipartisan coalition, housing crisis]]>

Industry syndicators report cautious optimism for the 2026 LIHTC equity market, with pricing stabilizing after volatility in late 2025. Investor demand remains strong as expanded credit allocations increase deal flow.12.5% permanent increase in 9% credits expanding supply nationwide25% bond threshold unlocking additional 4% LIHTC dealsCorporate tax reform discussions have not reduced LIHTC value to investorsConstruction costs remain elevated, squeezing deal economicsCalifornia, Massachusetts, and Missouri deals command pricing premiumsCredit pricing in mid-80s to low-90s for well-structured dealsNCSHA and Novogradac to release comprehensive market data in MarchMarket conditions support moving forward with pipeline projects. Syndicators emphasize realistic operating projections and demonstrated development capacity.Subscribe to The Spring Street Brief for daily updates on LIHTC equity markets, investor trends, and tax credit pricing.Keywords: LIHTC equity market, LIHTC syndicator, tax credit investor, 9% LIHTC, 4% LIHTC, LIHTC pricing, credit pricing, tax credit equity, affordable housing investment, LIHTC fund, One Big Beautiful Bill Act, 25% bond threshold, construction costs, NCSHA, Novogradac, LIHTC market outlook, investor demand, tax credit syndication, affordable housing equity, LIHTC deal flow]]>

The Center for Law and Social Policy (CLASP) has released a new report warning that proposed work requirements and time limits in rental assistance programs would significantly worsen housing instability for vulnerable households.Administrative burdens drive caseload reductions, not employment gainsMany losing benefits already work or face employment barriersHousing Choice Voucher holders already have high employment ratesWould increase documentation burdens for housing authoritiesRisk terminating assistance for households with temporary setbacksLIHTC properties could see increased turnover and vacancyReport recommends focusing on housing supply and supportive servicesProperty owners with project-based vouchers or high voucher concentrations should monitor policy developments and engage with advocacy efforts.Subscribe to The Spring Street Brief for daily updates on HUD policy, Housing Choice Voucher program changes, and rental assistance regulations.Keywords: CLASP, work requirements, Housing Choice Voucher, Section 8, rental assistance, HUD policy, housing instability, time limits, voucher program, affordable housing policy, housing authority, Project-Based Voucher, LIHTC property management, tenant retention, housing assistance, supportive housing, employment requirements, safety net programs, housing policy research, HCV regulations]]>

The Kansas Housing Resources Corporation has released updated developer resources for the 2026 LIHTC program cycle, incorporating changes from the One Big Beautiful Bill Act and lessons learned from the 2025 funding round.Revised application materials and technical guidance documentsEnhanced scoring for rural housing development across KansasPriorities for veterans, seniors, and persons with disabilitiesUpdated cost containment thresholds reflecting construction inflationRevised market study requirements and experience qualifications25% bond threshold guidance for 4% LIHTC dealsApplication workshops in March in Wichita and Kansas CityDevelopers new to the Kansas market should attend workshops to understand agency priorities and submission requirements.Subscribe to The Spring Street Brief for daily updates on state QAPs, LIHTC program changes, and affordable housing development resources.Keywords: Kansas Housing Resources Corporation, KHRC, Kansas LIHTC, 9% LIHTC, 4% LIHTC, QAP, Qualified Allocation Plan, Kansas affordable housing, rural housing development, veterans housing, senior housing, cost containment, market study requirements, 25% bond threshold, private activity bonds, One Big Beautiful Bill Act, Wichita housing, Kansas City housing, state housing finance agency, LIHTC application]]>

A major Oakland affordable housing development closed financing with approximately $50 million in LIHTC equity — one of the largest single-project investments in the Bay Area this year. The project will create over 200 affordable units serving households from extremely low to moderate income levels.One of the largest LIHTC transactions in the Bay Area in recent yearsServes households from extremely low to moderate income levelsLayers 4% LIHTC with California tax-exempt private activity bondsSoft financing from City of Oakland, Alameda County, and CalHFABay Area construction costs exceed $700,000 per unitCalifornia deals attract pricing premiums from state tax credit benefitsProject expects to deliver units in 2027The project demonstrates the complex financing structures required for urban affordable housing development in high-cost markets.Subscribe to The Spring Street Brief for daily updates on LIHTC transactions, project financings, and affordable housing investment opportunities.Keywords: Oakland affordable housing, LIHTC equity, Bay Area housing, California LIHTC, 4% LIHTC, tax-exempt bonds, private activity bonds, CalHFA, California Housing Finance Agency, Alameda County housing, LIHTC transaction, affordable housing financing, LIHTC investor, tax credit equity, multifamily development, urban affordable housing, high-cost market, California tax credit, affordable housing construction, LIHTC closing]]>

The Indiana Housing and Community Development Authority has opened its 2026 Rental Housing Tax Credit application cycle, combining federal LIHTC with state Development Fund awards for enhanced project feasibility.First-round deadline approaching late March 2026Emphasis on workforce housing targeting 60-80% AMI householdsScoring preferences for Qualified Census Tracts and high-opportunity areasState Development Fund provides gap financing layering with federal credits4% pipeline active with new 25% bond threshold implementationUpdated guidance for bond-financed developmentsPre-application workshops scheduled for March in IndianapolisFirst-time LIHTC developers should consider partnering with experienced firms to strengthen applications in this competitive market.Subscribe to The Spring Street Brief for daily updates on state QAP deadlines, LIHTC application requirements, and affordable housing development opportunities.Keywords: Indiana Housing and Community Development Authority, IHCDA, LIHTC application, Rental Housing Tax Credit, 9% LIHTC, 4% LIHTC, Indiana affordable housing, QAP, Qualified Allocation Plan, Development Fund, workforce housing, 60% AMI, 80% AMI, Qualified Census Tract, QCT, high-opportunity area, private activity bonds, 25% bond threshold, tax-exempt bonds, gap financing, Indiana housing developer]]>

Rose Community Capital has launched a new pre-development loan program specifically designed for affordable housing developers pursuing LIHTC projects. The program addresses a critical financing gap between site acquisition and construction closing.Addresses critical gap between site acquisition and construction closingPre-development costs can exceed $500,000 for competitive 9% dealsCovers architectural, engineering, environmental, market studies, and legal costsFlexible terms with conversion options to permanent financingHelps smaller developers and CDFIs compete with larger firmsJoins ecosystem including Enterprise Community Loan Fund and LISCCurrently accepting applications in Rose Community Capital service areaDevelopers should explore pre-development financing options as part of their capital stack planning for upcoming LIHTC applications.Subscribe to The Spring Street Brief for daily updates on LIHTC financing resources, CDFI lending programs, and affordable housing development tools.Keywords: Rose Community Capital, pre-development loan, LIHTC financing, affordable housing development, predevelopment costs, CDFI lending, community development financial institution, Enterprise Community Loan Fund, LISC, 9% LIHTC, capital stack, affordable housing financing, development financing, bridge loan, construction financing, market study, environmental assessment, LIHTC application, emerging developer, affordable housing developer]]>

The North Carolina Housing Finance Agency announced one of the largest affordable housing investment rounds in state history, with LIHTC awards leveraging over $1.47 billion in total development. This reflects expanded 9% allocations under the One Big Beautiful Bill Act.Thousands of new affordable rental units across North CarolinaReflects expanded 9% allocation under One Big Beautiful Bill ActNew construction family housing in Charlotte and Raleigh metrosSenior housing developments in mid-sized communitiesRehabilitation of existing affordable stock in rural counties2026 QAP emphasizes 30% AMI households and high-opportunity areasNext 9% application round opens summer 2026Developers should begin site identification and local government engagement now to position competitive applications.Subscribe to The Spring Street Brief for daily updates on state HFA allocations, LIHTC awards, and affordable housing development opportunities.Keywords: North Carolina Housing Finance Agency, NCHFA, LIHTC awards, 9% LIHTC, Low-Income Housing Tax Credit, affordable housing development, North Carolina affordable housing, Charlotte housing, Raleigh housing, One Big Beautiful Bill Act, state housing finance agency, QAP, Qualified Allocation Plan, senior housing, family housing, rural housing, 30% AMI, high-opportunity areas, tax credit allocation, multifamily development, affordable rental housing]]>

The Affordable Housing Credit Improvement Act (AHCIA) continues gaining bipartisan support in the Senate, representing the most comprehensive proposed expansion of the Low-Income Housing Tax Credit program since its creation in 1986. This legislation could reshape affordable housing development economics nationwide.50% increase in annual 9% LIHTC allocation ceilingMinimum 4% credit rate floor to stabilize deal economicsRural housing set-asides for underserved areasPreservation provisions for aging LIHTC propertiesCould support 200,000 additional affordable units over 10 yearsLed by Senators Maria Cantwell and Todd YoungAdvocates pushing for floor vote before August recessDevelopers should track this legislation closely as expanded credits would reshape pro formas and accelerate pipeline activity.Subscribe to The Spring Street Brief for daily updates on LIHTC legislation and affordable housing policy affecting investors, developers, and syndicators.Keywords: Affordable Housing Credit Improvement Act, AHCIA, LIHTC expansion, 9% LIHTC, 4% LIHTC, Low-Income Housing Tax Credit, tax credit legislation, affordable housing legislation, Senator Maria Cantwell, Senator Todd Young, bipartisan housing bill, credit allocation ceiling, rural housing, LIHTC preservation, affordable housing development, tax credit investor, LIHTC syndicator, housing policy 2026, LIHTC reform, affordable housing production]]>

HUD has published a proposed rule that would eliminate the "mixed-status" family provision in place since 1996, requiring all household members to have eligible immigration status to receive federal housing assistance. This policy shift could affect an estimated 25,000 households nationwide.Proposed rule published February 19, 2026Could affect approximately 100,000 individuals, many U.S. citizen childrenFamilies would face choosing between staying together or losing benefitsCreates operational complexity for LIHTC properties with Project-Based VouchersComment period closes March 21, 2026Legal challenges expected to delay implementationProperty owners and housing authorities should review tenant demographics to assess exposure to this proposed rule change.Subscribe to The Spring Street Brief for daily updates on affordable housing policy, LIHTC developments, and HUD regulatory changes affecting multifamily property owners and developers.Keywords: HUD proposed rule, mixed-status families, federal housing assistance, immigration status, Housing Choice Voucher, Section 8, LIHTC, Low-Income Housing Tax Credit, Project-Based Vouchers, affordable housing policy, HUD regulations, multifamily housing, rental assistance, public housing, housing authority compliance, tenant eligibility, fair housing, housing policy 2026, HUD rulemaking, affordable housing compliance, property management]]>

The Texas Department of Housing and Community Affairs 9% LIHTC application deadline is February 27, 2026 — less than two weeks away.Texas Market Overview:One of largest LIHTC allocations in the nation2026 QAP reflects 12% permanent credit increase under OBBBARemains one of most competitive LIHTC marketsApplication Requirements:Specific scoring criteria for location, tenant populations, experienceLocal support resolutions requiredMarket studies and environmental assessments must be completeRegional allocation formula ensures geographic diversityAlternative Paths:Texas implementing 25% bond threshold for 4% dealsBond-financed projects don't compete for limited 9% ceilingConsider 4% if 9% scoring is borderlineTAAHP Priorities:Expanding tax-exempt bonds and credits89th Texas legislative session advocacySubscribe to The Spring Street Brief for daily updates on LIHTC applications, Texas TDHCA, QAP deadlines, 4% and 9% credits, and state HFA activity.

The Illinois General Assembly has introduced House Bill 4413 to renew the Illinois Affordable Housing Tax Credit — a state-level credit that layers with federal LIHTC.State Credit Importance:Fills financing gaps as development costs riseMakes marginal projects feasibleAttracts investors layering state and federal creditsMost states now have state housing credit programsIllinois Program:Supported thousands of affordable units since inceptionRenewal would extend and potentially expand capacityDetails on allocation amounts being finalizedDeveloper Action Items:Illinois 9% LIHTC deadline: February 25, 2026Track HB 4413 progress for financial projectionsConsider state credit in investor conversationsNational Trend:Michigan advocates proposing $42M annual state creditMore states complementing federal creditsSubscribe to The Spring Street Brief for daily coverage of state housing tax credits, LIHTC, QAP deadlines, and affordable housing legislation.

CHAPA has released its first comprehensive report on Housing Choice Voucher utilization in Massachusetts, titled "Shaping Action: Findings on Use of Housing Choice Vouchers."Key Findings:Voucher success rates vary significantly across housing authoritiesTight rental markets challenge voucher holders finding unitsPayment standards competitive but landlord participation limitedLIHTC Integration:Many LIHTC developments accept voucher holdersProvides pipeline of income-qualified tenantsReliable rent payments backed by housing authoritiesReduces lease-up risk for LIHTC ownersLandlord Barriers:Inspection requirements cited as obstaclePayment processing delaysHousing for the 21st Century Act may address inspection concernsSubscribe to The Spring Street Brief for daily updates on Housing Choice Vouchers, Section 8, LIHTC compliance, and voucher utilization research.

The lowered private activity bond threshold took effect January 1st, and state HFAs are now rolling out implementation policies that vary significantly by state.Threshold Change:Minimum bond financing dropped from 50% to 25% of aggregate basisLess tax-exempt debt required per projectFrees up bond volume cap for additional dealsState Implementation:California CDLAC: Emergency rulemaking initiatedHousing New Mexico: Updated 4% LIHTC planColorado: Phased approach with 45% upper limit for 2026Developer Impact:Acquisition-rehab deals: $5M bond requirement now $2.5M on $10M projectLower debt service and transaction costsImproved project economicsWork with bond counsel on state-specific requirementsSubscribe to The Spring Street Brief for daily coverage of private activity bonds, 4% LIHTC, bond volume cap, and state HFA policy updates.

The FY2026 Transportation, Housing, and Urban Development appropriations bill provides $77.3 billion for HUD programs — a $7.2 billion increase and one of the largest in recent memory.Key Allocations:Public housing operating funds: $5.02 billionPublic housing capital funds: $3.2 billionContinuum of Care (homeless services): $4.01 billionHousing Choice Vouchers: Full renewal funding plus incremental vouchersProject-Based Rental Assistance: Contract renewals and inflation adjustmentsStakeholder Impact:2.4 million voucher households protected from terminationsHousing authorities can plan with funding securityProperty owners assured continued HAP paymentsDevelopers confident in lease-up assistance availabilitySubscribe to The Spring Street Brief for daily updates on HUD appropriations, Section 8, public housing, homeless assistance, and PBRA contracts.

The ROAD to Housing Act passed the Senate Banking Committee by a vote of 24 to 0 — unanimous bipartisan support signaling strong prospects for full Senate passage.Key Provisions:Streamlines environmental review processes for residential projectsExpands HUD and USDA program coordination for rural housingModernizes manufactured housing regulations and financingExpands down payment assistance eligibilityFHA modernization for first-time buyersLegislative Context:Complements Housing for the 21st Century Act (House)Most significant housing reform effort in yearsIndustry groups endorse pragmatic supply-focused approachNational League of Cities praises local control provisionsTimeline:Full Senate vote expected late February/early MarchConference committee to reconcile House and Senate versionsSubscribe to The Spring Street Brief for daily coverage of housing legislation, LIHTC, HUD policy, and affordable housing reform.

A coalition of 24 state attorneys general, led by California AG Rob Bonta, submitted comments opposing HUD's proposed rollback of Fair Housing Act disparate impact regulations.Disparate Impact Standard:Upheld by Supreme Court in 2015 (Texas v. Inclusive Communities)Allows challenges to practices with discriminatory effectsNo proof of discriminatory intent requiredCoalition Opposition:24 state attorneys general call proposed rule unlawfulNAACP Legal Defense Fund urges maintaining frameworkHousing Assistance Council highlights rural community impactsMarin County expresses local compliance concernsImplications for Owners:Outcome shapes compliance requirements for yearsState fair housing laws may still enforce disparate impactPotential patchwork of requirements across jurisdictionsSubscribe to The Spring Street Brief for daily updates on fair housing, HUD rulemaking, civil rights enforcement, and affordable housing compliance.

CHFA announced reservations for nine affordable housing developments, supporting approximately 840 new units with federal and state Housing Tax Credits — one of the largest allocation rounds in recent history.Allocation Details:Nine developments across Colorado communitiesMix of urban Front Range and smaller community projectsNew construction family housing, senior developments, and preservation dealsPolicy Context:Reflects 12% permanent increase in 9% credits under OBBBA25% bond threshold expands 4% LIHTC optionsColorado phasing in with 45% upper limit for 2026Developer Action Items:Second 9% application deadline approachingReview updated QAP and application materialsExplore state housing trust fund layering strategiesSubscribe to The Spring Street Brief for daily coverage of LIHTC allocations, state HFA activity, 4% and 9% credits, and QAP updates.

HUD has announced the early termination of the Emergency Housing Voucher program, creating transition challenges for housing authorities and property owners nationwide.Program Background:Launched during pandemic via American Rescue Plan ActApproximately 70,000 vouchers funded for vulnerable populationsIntended for absorption into regular Housing Choice Voucher programImpact by Region:San Diego: Hundreds face potential homelessnessTacoma, WA: Significant utilization concernsMultiple states scrambling for contingency plansAction Items:Property owners: Communicate with local housing authorities on timelinesHousing authorities: Identify EHV households and assess mainstream voucher eligibilityPrioritize most vulnerable for available assistance slotsSubscribe to The Spring Street Brief for daily updates on Housing Choice Vouchers, Section 8, HUD policy, and rental assistance programs.

The House passed the Housing for the 21st Century Act by a vote of 390 to 9 — a remarkable display of bipartisan consensus on housing policy. The bill now advances to the Senate.Key Provisions:Directs HUD to publish best practices for local zoning reformsIncludes pre-approved housing designs and model codes for rural, suburban, and urban contextsIncreases FHA multifamily loan limits for larger projectsStreamlines Housing Choice Voucher inspection requirementsExpands HOME Investment Partnerships flexibility for workforce housingModernizes veterans' housing programs and manufactured home policiesIndustry Support:Over 70 industry groups endorsed the legislationAddresses estimated 4-7 million unit housing shortageSenate expected to take up the bill in MarchSubscribe to The Spring Street Brief for daily affordable housing news covering LIHTC, HUD policy, Section 8, and housing reform legislation.