CLPHA received very helpful feedback on today’s member call that will inform our public comments in response to HUD’s proposed non-citizen rule. To aid members in writing your own public comments, we are distributing some materials that may be useful:
Widely supported bipartisan, bicameral legislation to expand and strengthen the Low-Income Housing Tax Credit (LIHTC) was reintroduced in the Senate and House earlier this week. The Affordable Housing Credit Improvement Act (AHCIA) of 2019 (S. 1701 and H.R. 3077) is estimated to incentivize the building of over 450,000 affordable homes over the next decade and generate $48.5 billion in wages and business income, $19.1 billion in additional tax revenue, and 510,000 jobs.
In a June 5 notice, HUD invited comments on proposed changes to methods used to calculate Fair Market Rents (FMRs). CLPHA and its membership have expressed concern for years to HUD that its FMR calculations do not accurately reflect gross rents, particularly in high-cost areas and/or in markets experiencing rapidly rising costs.