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Alerts Archive - October 2010

News Alert: October 29

$287.8M in Financing and Grants Approved by New York Homes and Community Renewal

The New York State Housing Finance Agency and the New York State Affordable Housing Corporation boards approved $271.8M in financing for affordable housing projects throughout the state. The board of the Housing Trust Fund Corporation approved an additional $16M in grants through the Community Development Block Grant, the Subprime Foreclosure Prevention, the Homes for Working Families and the Urban Initiatives programs.

These allocations are expected to produce over 1,800 affordable housing units as well as stimulate local economic activity and job creation.

Click here for full press release and list of projects funded.

News Alert: October 27

New York Homes & Community Renewal (HCR) Announces Funding Availability and Application Workshops

HCR is publishing notices of funding availability for the Housing Trust Fund Program and the Home Program, and notices of credit availability for the Low Income Housing Credit and State Low Income Housing Credit programs today on its website. These documents pretain to capital project funding under Unified Funding 2011.

HCR will also be conducting the following workshops:

Rochester: Monday, November 15 at 10AM; Rochester City Council Chambers; 30 Church Street

Albany: Thursday, November 18 at 10AM; Hampton Plaza Ballroom; 38-40 State Street

New York: Friday, November 19 at 10:30AM; 25 Beaver Street, Room 510 

News Alert: October 25

White House Releases October Housing Scorecard

Key data includes:

  • Low interest rates continue to help stabilize home prices. More than 7 million homeowners have refinanced since April 2009, resulting in $12.7 billion in savings.
  • Sales decreased compared to the first half of 2010 due to the expiration of the Homebuyer Tax Credit. However homeowners added $95 billion in equity in the 2nd quarter.
  • Between April 2009 and August 2010, mortgage modifications outpaced foreclosures by a roughly 2.7:1 ratio.
  • HAMP modified mortgages have experienced an almost 11 percent default rate.

For full press release, click here. 

News Alert: October 22

Andrew Cuomo Outlines Affordable Housing Component of His Urban Agenda

In the Amsterdam News, gubernatorial candidate issued his urban agenda which included his desire to "expand housing and community development initiatives" through both federal and state programs.

News Alert: October 21

HUD Issues NSP 3 Program Requirements

Amonst the requirements, NSP 3 grantees must use 50% of their allocation within two years and 100% within three years. And while NSP 1 funds could be used for nonresidential uses, NSP 3 funds (as with NSP 2) must be used for housing.

Applications for the $1 billion allocated by Congress as part of July's Dodd-Frank Wall Street Reform and Consumer Protection Act are due by March 1, 2011.

Click here for full announcement.

News Alert: October 18

White House Holds Meeting on Rental Housing Policy

The NCSHA blog reports that the White House, Treasury, HUD and USDA hosted a meetign to discuss rental housing policy and how it relates to education, energy, transportation, health and education as well as rental housing's contribution to economic development.

You can also click here to go straight to HUD Secretary Donovan's blog about the conference.

News Alert: October 14

HUD Awards $5M Grant to RPA for Sustainable Community Development

HUD Secretary Shaun Donovan announced that 45 regional areas "will receive funding through a new initiative intended to build economic competitiveness by connecting good jobs, quality schools and transportation." The Regional Planning Association in New York received $5 million of the $100 million total allocation.

Click here for the full press release.

News Alert: October 7

$150 Million in Recovery Act Bonds Approved by NYS HCR for Five Local Governments

The five localities "expected to participate in the bond issue are Cattaraugus County, Oswego County, Putnam County, Tioga County and Wyoming County." The bond issue will be comprised of Build America Bonds and Recovery Zone Economic Development Bonds.

Click here for full press release.

News Alert: October 5

NHC's Center for Housing Policy Releases Two Research Briefs

As part of its Insights from Housing Policy Research series, the Center for Housing Policy has released two research briefs:

News Alert: October 4

Senate Committee Pushes Forward Revisions to the Section 202 Elderly Housing Program

Senior Housing News Daily reports that the Senate Banking Committee has brought amendments to the Section 202 program to the Senate for full consideration. The revisions are designed to make it "easier for property owners who administer elderly housing to refinance their properties" and thus help to preserve affordable housing units available to senior citizens.


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