Developers that use LIHTCs may find it more difficult to get rezoning approvals in high-income or exclusionary neighborhoods, as local governments may feel less of an obligation to accommodate affordable housing.
Though the freeze memo was withdrawn, the broader executive orders behind the funding freeze remain in place. As a result, funding for certain areas remains paused and affordable housing programs could still be affected.
HUD is becoming increasingly aware of the burden that increasing insurance costs are placing on providers of affordable housing. Unlike their market-rate counterparts, these providers cannot pass increased costs on to tenants, leading some to reduce insurance coverage and delay repairs. These challenges exacerbate the housing supply shortage and threaten overall affordability.
The IRS will allocate $3.8 million in unused federal low-income housing tax credits (LIHTCs) as a carryover to 29 states [Revenue Procedure 2024-41]. Last year’s carryover allocation was $11.4 million in two parts. The first was in October 2023 and second one in April 2024. A state’s unused low-income housing credit carryover for a calendar […]
On Oct. 22, the Internal Revenue Service announced an increase in the LIHTC and private-activity bond volume caps for 2025. The announced changes represent a milestone in the effort to bolster affordable housing financing across the country. Both the 9 percent LIHTC multiplier and the private activity bond multiplier figures are new records, as are […]
