In the News

A First Look at the President's Proposed FY 2017 Budget Requests for Housing and Community Development

Source: National Housing Conference

Under President Obama’s proposed FY 2017 budget, US Department of Housing and Urban Development (HUD) would receive $48.9 billion in gross discretionary funding and $11.3 billion in new mandatory spending over 10 years. Emphasis is placed on supporting 4.5 million households through rental assistance, increasing homeless assistance, supporting tribal communities and providing opportunities to Native American youth and making targeted investments in communities to help revitalize high-poverty neighborhoods and improve housing affordability. The FY 2017 budget shows a historic investment in homelessness with the goal of ending family and youth homelessness by 2020 as laid out in “Opening Doors: The Federal Strategic Plan to Prevent and End Homelessness." More...


 

Best Practices: RAD Program Recapitalizes Public Housing near St. Petersburg, Florida

Source: U.S. Department of Housing and Urban Development (HUD) User/PDR Edge

The Landings at Cross Bayou is a 184-unit Rental Assistance Demonstration (RAD) program redevelopment of public housing that had become functionally obsolete and deteriorating as a result of inadequate funding. Located near St. Petersburg, Florida, this redevelopment of a Pinellas County Housing Authority property offers an instructive example of how public-private partnerships can effectively leverage the funding opportunities provided by the RAD program for low-income housing redevelopment. More...


 

The State of Senior Renters

Source: Enterprise Community Partners, Inc. Make Room™

The number of senior households paying unaffordable rent has outpaced the growth in the overall senior population during the past decade. Between 2005 and 2014, the overall population of seniors age 65 and over increased by 25 percent nationwide, from 22.5 million to 28.1 million, while the number of seniors paying more than half of their household income (before taxes) toward rent and utilities shot up by 34 percent, from 1.4 million to 1.8 million. According to Make Room’s analysis, 43 percent of seniors who pay more than half their income on rent have no income except for Social Security. Meanwhile, there will be no Social Security payment increase in 2016 for only the third year since the federal government instated cost-of-living adjustments in 1975. More...


 

FHA to Cut Insurance Rates on MultiFamily Mortgages

Source: The U.S. Department of Housing and Urban Development Press Release

In an effort to help preserve and increase the amount of affordable, quality rental housing across the country, the Federal Housing Administration (FHA) In an effort to help preserve and increase the amount of affordable, quality rental housing across the country, the Federal Housing Administration (FHA) announced a multifamily insurance rate reduction designed to encourage capital financing of affordable and energy-efficient apartments. The rate reductions announced today will take effect on April 1, 2016, and will directly impact FHA’s Multifamily Housing Programs and properties housing low- and moderate-income families and/or developments installing energy-efficient systems or building within federal energy guidelines. Read FHA’s new Multifamily Insurance Rates. More...


 

 

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