On December 13, the ACTION Campaign, which CARH is a steering committee member, issued the following ACTION Alert: On Saturday, December 11, the Senate Finance Committee released bill text, updating the tax section of the Build Back Better Act that passed the House in November. The new Senate text largely mirrors the House version, with historic investments in the Housing…
On December 13, USDA Rural Development Office of Multifamily Housing sent the following information: Multifamily Housing Partners, Given the recent disasters in Kentucky and other states in the area, please be reminded of guidelines for Rural Housing Service Multifamily properties and tenants affected by the storms. Borrowers and Management Agents in the area will be…
Dear CARH Members: The Scholarship Foundation is now accepting applications for the 2022 scholarships – the James L. Poehlman, Gordon L. Blackwell, Jack Godin, Jr., CRHD Founders, Scholarship Foundation, and CARH Scholarships! The Scholarship Foundation is providing these six scholarships to deserving residents of CARH-member affordable rural housing properties. Each scholarship will be $1,500 per…
The Department of Treasury released a Press Release on November 29 with October Emergency Rental Assistance data. According to Treasury, assistance was provided to more than 521,000 renters and landlords, bringing the total number to more than 2.5 million payments and $2.8 billion in funds paid through ERA programs. Treasury said that the new data…
On December 2, 2021, Congress passed another Continuing Resolution to fund the government through February 18, 2021. Click here to read information published by the National Low Income Housing Coalition.
The IRS issued the following Revenue Ruling and Revenue Procedue regarding the Low Income Housing Tax Credit: Revenue Ruling 2021-20 provides guidance regarding whether the 4 percent applicable percentage (4 percent floor) under § 42(b)(3) of the Internal Revenue Code applies to the low-income buildings described in the revenue ruling. This revenue ruling holds that…
CARH’s Broadcast Email—Legislative Alert Background On November 19, the House of Representatives, by a vote of 220-213, passed the Build Back Better (BBB) Act (H.R. 5376). This vote occurred after several months of negotiations between centrist and progressive Democrats in the House and the White House. Although the bill passed the House, there remain several…
The following ACTION Alert was sent by The ACTION Campaign, which CARH is a steering committee member: This morning, the House passed the Build Back Better Act, H.R. 5376, by a vote of 220-to-213. The legislation includes the largest expansion of the Housing Credit program since its inception in 1986 and would finance an estimated 811,900 affordable…
On November 16, HUD’s Office of Housing sent this bulletin as a reminder to owners of multifamily-assisted properties, that the deadline to submit COVID-19 Supplemental Payment (CSP) reimbursement requests to HUD or the Contract Administrator is this Friday, November 19, 2021.
CARH’S BROADCAST E-MAIL – Regulatory Alert On November 8, USDA announced the appointment of Joaquin Altoro as the Administrator of the Rural Housing Service (RHS). According to USDA, for nearly three decades, Mr. Altoro has been dedicated to understanding the heart and passion of minority communities and applying his experience and wisdom to provide financing…