The National Low Income Housing Coalition (NLIHC) has developed resources to assist in the implementation of the National Housing Trust Fund and funding at the state level.
On Tuesday, May 17, 2016 from 10:00 a.m. to 11:00 a.m., the National Low Income Housing Coalition (NLIHC) will host a webinar to discuss New Jersey’s National Housing Trust Fund.
The funding priority in the NHTF allocation plan should consider how project underwriting supports the financial feasibility of the project beyond the required 30-year period.
Fannie and Freddie would be prohibited from contributing to the NHTF until each company’s capital reserves reach 10% of their risk-weighted assets.
NLIHC has learned that the sequester will take a 6.9% cut out of the NHTF reducing NJ’s allocation to $3,730,000. The cut will be restored in 2017.
We expect the first allocations of the Housing Trust Fund will be made this summer. At least $3.73 Million available for NJ. DCA developing plan now.
The FY17 budget identifies 169 tax expenditures that will cost $1.283 trillion in 2016 and are projected to cost $17T over the next ten years.
$182 million is the amount in the Fannie Mae and Freddie Mac will provide for the NHTF in 2016 of which $6,250,000 will be allocated to NJ.
Diane Yentel, an affordable housing policy expert and advocate, has been named as the new President and CEO of the NLIHC to succeed Sheila Crowley.
An additional $213 billion would be generated over ten years if the two elements of the United for Homes reform proposal were enacted.