The Spring Street Brief
The Spring Street Brief is a daily intelligence briefing on affordable housing in America. It covers LIHTC allocations, Section 8 voucher updates, HUD policy changes, private activity bonds, state housing finance agency deals, and emerging trends in affordable housing development. Designed for LIHTC investors, affordable housing developers, syndicators, lenders, and policy makers. AI-powered and human-curated, brought to you by Tom Carter at Spring Street Management Group.
Episodes
Episode 108: HUD Waitlists RAD for PRAC Submissions Using PRI
HUD has announced that all Preservation Rent Increase (PRI) funding available under the RAD for PRAC program has been exhausted for calendar year 2026. Any new RAD for Section 202/Project Rental Assistance Contract conversion plan submissions that include PRI funding and were submitted after May 29, 2026, will be waitlisted on a first-come, first-served basis. For sponsors, syndicators, l
Episode 107: FHFA Proposes Major Overhaul of Duty to Serve Rules
The Federal Housing Finance Agency has proposed a sweeping overhaul of the Duty to Serve regulations governing Fannie Mae and Freddie Mac. The proposed rule replaces the existing prescriptive Activities framework with a flexible, principles-based approach — and expands LIHTC credit eligibility across all three Duty to Serve underserved markets. For LIHTC investors, affordable housing deve
Episode 106: HUD RFI Targets Product-Specific BABA Waivers
HUD has issued a Request for Information (RFI) targeting a shift from project-specific waivers to general applicability (product-category) waivers under the Build America, Buy America Act (BABA). For LIHTC developers and their construction teams, this is the most actionable near-term opportunity for relief from one of the most disruptive compliance requirements introduced into federally a
Episode 105: Trump Pulls Back on 21st Century Road to Housing Act
President Trump canceled a planned signing of the 21st Century Road to Housing Act, leaving enrolled housing legislation in a holding pattern with no rescheduled signing date confirmed. NAHB Chairman Bill Owens expressed confidence the bill will eventually become law, but the delay introduces meaningful uncertainty for LIHTC investors, developers, syndicators, and state HFAs watching for
Episode 104: DASH Act Reintroduced With LIHTC and MIHTC Provisions
Senator Ron Wyden (D-OR) and Rep. Val Hoyle (D-OR) have reintroduced the Decent, Affordable, Safe Housing for All (DASH) Act for the third consecutive Congress. The bill expands LIHTC, introduces a new Middle-Income Housing Tax Credit (MIHTC), restructures the first-time homebuyer tax credit to be advanceable at closing, and adds a new home-sale loss deduction of up to $100,000 for low- a
Episode 103: Missouri MHDC Opens Public Comment on 2028 QAP
The Missouri Housing Development Commission (MHDC) has opened a public comment period to gather input on topics under consideration for its 2028 Qualified Allocation Plan (QAP). With this window opening nearly two years ahead of the plan's effective year, developers, syndicators, lenders, and investors active in Missouri have an early and meaningful opportunity to influence how LIHTC and
Episode 102: Build Housing Affordably Act Targets BABA Reform
A bipartisan House bill — H.R. 9311, the Build Housing Affordably Act — has been introduced by Rep. Mike Flood (R-NE), Chairman of the House Housing and Insurance Subcommittee, and Rep. Maggie Goodlander (D-NH). The legislation targets Build America Buy America Act (BABA) requirements that have created cost and timeline friction for affordable housing developers relying on federal funding
Episode 101: May Housing Starts Drop 15% as Multifamily Craters
May housing starts fell 15.4% to a seasonally adjusted annual rate of 1.18 million units, but the headline understates the real shock: multifamily construction cratered 40.2% in a single month to an annualized pace of just 295,000 units — down 14.2% year-over-year. For LIHTC developers, syndicators, and lenders, the data lands at a critical moment, signaling that the construction pipeline
Episode 100: Fed Rate Hike Risk and the LIHTC Development Outlook
Bond markets have shifted from pricing in Fed rate cuts to assigning greater-than-even odds to a rate hike — a reversal with direct consequences for LIHTC developers, syndicators, and lenders. With core inflation at a three-year high of 3.3%, headline CPI at 3.8%, and the two-year Treasury up more than 70 basis points since March, the rate environment for affordable housing finance has ma
Episode 99: Cinnaire Closes $307M LIHTC Equity Fund
Cinnaire has closed Fund for Housing Limited Partnership 45 (Fund 45), a $307 million LIHTC equity fund targeting the creation and preservation of 2,259 affordable housing units across 27 properties in 10 states. The fund will directly benefit an estimated 5,196 residents and represents one of the larger single-fund LIHTC equity closes in Cinnaire's history — a notable signal of sustained
Episode 98: Shaheen & McCormick Push HUD for BABA Reforms
Senators Jeanne Shaheen (D-NH) and Dave McCormick (R-PA) have sent a bipartisan letter to HUD Secretary Turner calling for administrative reforms to the Build America, Buy America (BABA) waiver process. The current system — designed to accommodate products not domestically available in sufficient supply — has instead created significant delays and, in some cases, hard stops for affordable
Episode 97: Bill Pulte Named Acting Director of National Intelligence
President Trump appointed FHFA Director Bill Pulte as Acting Director of National Intelligence on June 2 — while keeping him in place as FHFA Director and chairman of both Fannie Mae and Freddie Mac. The dual role raises immediate questions about leadership bandwidth at the agency that oversees the GSEs, with direct implications for multifamily lenders, LIHTC syndicators, and affordable h
Episode 96: HUD's 2025 Point-in-Time Count: First Drop Since 2016
HUD released Part 1 of the 2025 Annual Homelessness Report, delivering the first year-over-year reduction in the national point-in-time count since 2016. With 745,652 people counted as homeless in January 2025 — a 3.3% decline from 2024 — the report offers a cautious but meaningful signal for housing-focused policy. For LIHTC developers, syndicators, and policymakers, the data lands at a
Episode 95: CHFA Multifamily Compliance Manual Updated
The Colorado Housing and Finance Authority (CHFA) has released a revised Multifamily Program Compliance Manual, updating guidance across three compliance policy areas for developments financed with Housing Tax Credits and/or CHFA multifamily loans. For owners, investors, syndicators, and compliance professionals with Colorado affordable housing assets, this is the new controlling document
Episode 94: CHFA Awards $11.5M in 9% Credits Across Connecticut
The Connecticut Housing Finance Authority (CHFA) has approved $11.5 million in 9% Low-Income Housing Tax Credit allocations supporting six developments across five Connecticut municipalities — Cromwell, Farmington, Hartford, Naugatuck, and New Britain. The awards will produce 319 total rental units, including 282 affordable apartments, spanning both new construction and preservation deals
Episode 93: Maryland's Twin Housing Acts Reshape Affordable Production
Maryland's General Assembly passed two significant pieces of housing legislation in 2026 — the Maryland Transit and Housing Opportunity Act and the Maryland Housing Certainty Act — alongside a Fiscal Year 2027 budget designed to support the Maryland Department of Housing and Community Development's affordable housing programs. For LIHTC developers, syndicators, and lenders active in Maryl
Episode 92: OMB's Proposed Rule Threatens $1 Trillion in Federal Grants
The Office of Management and Budget, joined by more than 40 federal agencies including HUD, has proposed a sweeping revision to government-wide rules governing federal financial assistance. With up to $1 trillion in funding in scope and a final rule targeted for October 1, 2026, the proposal carries direct implications for affordable housing developers, operators, and lenders reliant on H
Episode 91: FY 2027 T-HUD Bill Clears Subcommittee
The House T-HUD Appropriations Subcommittee passed its FY 2027 HUD funding bill last week on a 9-7 party-line vote, and the full House Appropriations Committee is marking it up today. With a total HUD budget of $71.4 billion — $5.9 billion below FY 2026 enacted levels — the bill sets the opening position for a funding fight that will directly affect LIHTC deal stacks, voucher availability
Episode 90: HUD Overhauls CoC Funding With $4.04B Recovery-First NOFO
HUD has released its Fiscal Year 2026 Continuum of Care Notice of Funding Opportunity — $4.04 billion in federal homelessness assistance structured around a fundamental policy shift away from housing-first and toward recovery, self-sufficiency, and competitive performance accountability. For developers, syndicators, and lenders with exposure to supportive housing, the implications for ope
Episode 89: 21st Century ROAD to Housing Act Clears the House
The 21st Century ROAD to Housing Act passed the House 396-13, with White House advisers signaling the President would sign the bill in its current form. Senate Banking Committee Chairman Tim Scott (R-SC) and Ranking Member Elizabeth Warren (D-MA) issued a joint statement pledging to advance legislation — but signaled the Senate's version isn't simply a rubber stamp on the House bill. A ke
Episode 88: Carey and Panetta Introduce 5-Year LIHTC Carryback Bill
Representatives Mike Carey (R-OH) and Jimmy Panetta (D-CA) have introduced the Affordable Housing Credit Carryback Act (H.R. 9012), a bipartisan standalone bill that would allow Low-Income Housing Tax Credit investors to carry back unused credits up to five years against prior tax liability. For LIHTC investors, syndicators, and developers, the proposal addresses a structural limitation i
Episode 87: HUD Trims Environmental Review for Large Projects
HUD has published an interim rule eliminating the final clearance-officer approval step in its environmental review process for large federally assisted multifamily projects — those with more than 200 units or a mortgage above $5 million. The rule takes effect June 22, with a public comment period open through July 21. For LIHTC developers, syndicators, and lenders navigating tight closin
Episode 86: Ohio Awards $39.1M in 9% Tax Credits for 2026
The Ohio Housing Finance Agency has awarded more than $39.1 million in 9% Low-Income Housing Tax Credits for 2026, issuing conditional commitments to 25 developments across the state. The awards represent a full annual credit round for Ohio, with projects spanning new construction and preservation of affordable rental housing for low- to moderate-income residents. For investors, syndicato
Episode 85: 21st Century ROAD to Housing Act Heads to House Floor
The House Financial Services Committee released an updated version of the 21st Century ROAD to Housing Act, and the full House is expected to vote on the bill today — notably without the SAVE America Act attached, despite President Trump calling for its inclusion. For LIHTC investors, developers, syndicators, and lenders, the decision to decouple these two measures is the critical signal:
Episode 84: HUD PIH Releases FY 2026 HCV Funding Allocations
HUD's Office of Public and Indian Housing has published its FY 2026 Housing Choice Voucher funding allocation notice, introducing targeted policy changes to Housing Assistance Payments and Administrative Fees. While the notice largely mirrors the FY 2025 framework, the adjustments carry direct implications for PHA administrative capacity, project-based voucher deal underwriting, and vouch
Episode 83: FY27 HUD Budget Hearing and the 21st Century ROAD Act
HUD Secretary Scott Turner faced bipartisan support for HUD programs during FY27 budget hearings before both the House and Senate Appropriations Committees last week — a notable signal amid broad discretionary spending pressure. At the same time, the House released an amended 21st Century ROAD to Housing Act on May 14, with a floor vote expected this week. For LIHTC investors, developers,
Episode 82: HUD FY2027 Budget: Cuts, Work Requirements, and CDBG End
HUD Secretary Scott Turner testified before the House Appropriations Subcommittee on May 12, 2026, outlining President Trump's FY2027 budget for HUD. The proposal includes the elimination of the Community Development Block Grant program, work requirements for rental assistance recipients, and a series of targeted funding allocations — all of which carry direct implications for LIHTC devel
Episode 81: Trump Backs 21st Century ROAD to Housing Act
President Trump publicly called on Congress to pass the Senate version of the 21st Century ROAD to Housing Act via Truth Social, drawing an immediate supportive response from Senate Banking Committee Chairman Tim Scott (R-SC). For LIHTC investors, developers, syndicators, and lenders, this rare alignment between the White House and a key Senate committee chair signals a potentially accele
Episode 80: The Sylvan Lottery Opens in Englewood Cliffs
Affordable Homes New Jersey has opened a waiting list for 90 income-restricted rental apartments at The Sylvan in Englewood Cliffs, Bergen County — a high-amenity mixed-income development steps from the George Washington Bridge. With rents ranging from $559/month studios to $1,766/month three-bedrooms against market-rate comparables reaching $5,700/month, the affordability discount is amo
Episode 79: HUD Announces $1.1 Billion Investment in Tribal Housing
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, rehabilit
Episode 78: Novogradac Projects Record 2026 LIHTC and PAB Volume
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 p
Episode 77: Georgia SB 476 Caps State LIHTC at 50 Percent of Federal Amount
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 develo
Episode 76: Wisconsin Legislation Would Expand State LIHTC from $42M to $100M Annually
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 s
Episode 75: IRS Publishes 2026 LIHTC and PAB Population Figures
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 m
Episode 74: Delaware DSHA 2026 LIHTC Applications Open Through April 30
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 appli
Episode 73: Michigan MSHDA Opens 2026 LIHTC Funding Round
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 • S
Episode 72: California AB 2122 Would Allow LIHTC Lease Nonrenewals for Renovations
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
Episode 71: Five Star Bank Commits $10 Million to San Diego Supportive Housing
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 me
Episode 70: Forbes Report Highlights LIHTC Qualified Contract Loophole
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 comp
Episode 69: States Expand Revolving Loan Funds for Mixed-Income Housing
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 feasibili
Episode 68: Oklahoma Housing Paradox Highlights LIHTC Targeting Challenges
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 al
Episode 67: North Carolina House Committee Debates LIHTC Tax Loophole
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
Episode 66: FHFA Doubles GSE Annual LIHTC Investment Cap to $2 Billion Each
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 invest
Episode 65: Hawaii HHFDC Opens 2026 LIHTC and Bond Funding Round
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 $2,50
Episode 64: Arizona Releases 2026 9% LIHTC and NHTF NOFA
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 competiti
Episode 63: Minnesota HFA Details OBBBA Implementation Impact
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 addit
Episode 62: CREA Closes Record $403 Million LIHTC Fund
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 includ
Episode 61: HUD Delays FY 2026 Income Limits to May 1
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
Episode 60: Treasury Corrects 2026 LIHTC 9% State Allocation Ceilings
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 Bil
Episode 59: Enterprise Community Partners Releases AHCIA Economic Impact Analysis
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 l
Episode 58: Colorado CHFA Updates 4% LIHTC Bond Pipeline Process
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
Episode 57: Terner Center Report Examines State Affordable Housing Administration
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
Episode 56: Housing for the 21st Century Act Advances to Senate
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 env
Episode 55: Michigan Advocates Push for State Affordable Housing Tax Credit
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 off
Episode 54: Illinois IHDA Announces Next Generation R3 Initiative Cohort
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
Episode 53: Massachusetts Governor Healey Announces $140 Million for Affordable Housing
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,
Episode 52: HUD Extends HOTMA Multifamily Implementation to January 2027
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
Episode 51: TD Bank Survey Shows Developer Optimism Despite Cost Challenges
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 ne
Episode 50: FHFA Sets $176 Billion GSE Multifamily Loan Cap for 2026
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% mus
Episode 49: Nevada Senator Rosen Backs Bipartisan Affordable Housing Effort
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 m
Episode 48: Syndicators Report Cautious Optimism for 2026 LIHTC Market
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 LIHT
Episode 47: CLASP Report Warns Against Work Requirements in Housing Assistance
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
Episode 46: Kansas Housing Resources Corporation Updates Developer Resources
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 w
Episode 45: Oakland Affordable Housing Project Awarded $50 Million in LIHTC Equity
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
Episode 44: Indiana IHCDA Opens 2026 Rental Housing Tax Credit Application
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
Episode 43: Rose Community Capital Launches LIHTC Pre-Development Loan Program
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% dealsCove
Episode 42: North Carolina Announces $1.47 Billion in Affordable Housing Development
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 Bi
Episode 41: Affordable Housing Credit Improvement Act Gains Senate Support
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 f
Episode 40: HUD Proposes Ending Assistance for Mixed-Status Families
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.
Episode 39: Texas LIHTC Application Deadline Approaches — February 27th
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, ex
Episode 38: Illinois Introduces Bill to Renew State Affordable Housing Tax Credit
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:Su
Episode 37: CHAPA Releases First Report on Housing Choice Voucher Utilization
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 Integra
Episode 36: States Implement New 25% Bond Test for 4% LIHTC
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 in
Episode 35: FY26 HUD Appropriations Bill Signed — $77.3 Billion for Housing
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 i
Episode 34: ROAD to Housing Act Advances with Unanimous Committee Vote
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 assistanc
Episode 33: Multistate Coalition Opposes HUD Disparate Impact Rollback
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 s
Episode 32: Colorado HFA Awards 840 Units in Latest LIHTC Round
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 prese
Episode 31: Emergency Housing Vouchers Program Ending Early
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
Episode 30: Housing for the 21st Century Act Passes House 390-9
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 l
Episode 29: HUD Rescinds 30-Day Eviction Notice Rule for Nonpayment
The Office of Information and Regulatory Affairs concluded review of HUD regulatory changes, including rescission of the 30-day notice requirement for nonpayment evictions in federally assisted housing.30-Day Notice Rescission:Current rule: 30 days' notice required before eviction for nonpaymentNew rule: Owners follow state and local eviction timelinesImpact: Some states require as little
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