From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Enterprise Community Partners' economic impact analysis of the Affordable Housing Credit Improvement Act.

• Full AHCIA implementation would support 2 million additional affordable homes over ten years
• 50% increase in 9% credit allocations accounts for largest production share
• Each dollar of LIHTC generates approximately $9 in total economic activity
• Analysis estimates AHCIA would support over 3 million jobs
• Local benefits include property tax revenue and reduced homelessness costs
• Expanded allocations would increase competitive award odds in 9% rounds

Housing advocates should share findings with congressional representatives.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Enterprise Community Partners, AHCIA, Affordable Housing Credit Improvement Act, LIHTC, 9% LIHTC, 4% LIHTC, economic impact analysis, job creation, housing production, tax credit expansion, congressional advocacy, QAP, basis boost, minimum 4% rate, housing shortage, affordable rental housing, federal tax expenditure, property tax revenue, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Colorado CHFA's updates to its 4% LIHTC bond process.

• CHFA releases updated guidance implementing 25% bond threshold from OBBBA
• Reduced threshold enables 4% credits with smaller bond allocations
• Updates affect application procedures, timing, and volume cap allocation
• Revised application intake windows and streamlined inducement processes
• Projects may need alternative gap financing to replace bond proceeds
• CHFA encourages pre-application meetings for financing structure discussions

Expanded 4% pipeline should help address Colorado's production gap.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Colorado, CHFA, Colorado Housing and Finance Authority, 4% LIHTC, private activity bonds, PAB, 25% bond threshold, One Big Beautiful Bill Act, OBBBA, bond volume cap, tax-exempt bonds, inducement, Front Range, gap financing, application process, QAP, affordable housing development, multifamily construction, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Terner Center's report on state affordable housing program administration.

• Terner Center analyzes QAP processes, application requirements, and timelines across states
• Processing times vary significantly—some states 4 months, others over a year
• Best practices include pre-application conferences, electronic portals, standardized templates
• Administrative capacity and staffing challenges constrain many HFAs
• Report recommends competitive compensation and succession planning
• Regional cooperation recommended to share best practices across states

Complete applications aligned with QAP priorities consistently outperform.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Terner Center, UC Berkeley, HFA, state housing finance agency, QAP, Qualified Allocation Plan, LIHTC, 9% LIHTC, 4% LIHTC, application process, underwriting, best practices, administrative capacity, staffing, developer, regional cooperation, electronic submissions, pre-application conference, affordable housing development, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Housing for the 21st Century Act's advancement to the Senate.

• Housing for the 21st Century Act passed House with bipartisan 390-9 vote
• Bill addresses housing supply, affordability, and regulatory modernization
• Key provisions include streamlined environmental review processes
• Expanded flexibility for Community Development Block Grant use
• Reforms to manufactured housing financing through FHA and GSEs
• May be combined with ROAD to Housing Act in Senate

Environmental review streamlining could meaningfully reduce LIHTC predevelopment timelines.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Housing for the 21st Century Act, Congress, bipartisan legislation, NEPA, environmental review, CDBG, Community Development Block Grant, manufactured housing, FHA, Fannie Mae, Freddie Mac, GSE, ROAD to Housing Act, Senate, LIHTC, zoning reform, NMHC, NAHB, Up for Growth, housing supply, affordable housing policy, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Michigan's push for a state affordable housing tax credit.

• Governor Whitmer includes state housing tax credit in budget recommendations
• Michigan is one of largest states without dedicated state housing credit
• Neighboring Ohio, Indiana, Illinois all offer state credits enhancing federal LIHTC
• Proposed credit could enable 2,000-3,000 additional affordable units annually
• Michigan needs over 200,000 additional affordable rental units per NLIHC
• MSHDA indicates support and readiness to administer program if enacted

Developers should engage with legislative advocacy and monitor state budget process.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Michigan, MSHDA, Michigan State Housing Development Authority, state tax credit, LIHTC, 9% LIHTC, 4% LIHTC, Governor Whitmer, affordable housing, NLIHC, National Low Income Housing Coalition, gap financing, construction costs, Ohio, Indiana, Illinois, housing shortage, budget, legislative advocacy, rental housing, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Illinois Housing Development Authority's Next Generation R3 initiative.

• IHDA announces Next Generation R3 cohort for affordable housing in disinvested communities
• Program combines LIHTC with state cannabis tax revenue for R3 priority areas
• R3 zones designated based on poverty, unemployment, incarceration, and mental health access
• Funded projects include family, mixed-use, and senior housing across Illinois
• All projects require community engagement and local hiring commitments
• Illinois also implementing new state Affordable Housing Tax Credit

Successful applicants typically begin community outreach months before LIHTC applications.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Illinois, IHDA, Illinois Housing Development Authority, R3, Restore Reinvest Renew, cannabis tax revenue, LIHTC, 9% LIHTC, 4% LIHTC, racial equity, climate resilience, economic mobility, QAP, community engagement, local hiring, Chicago, state tax credit, predevelopment, soft financing, affordable housing, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Governor Healey's $140 million affordable housing announcement.

• $140 million in state funding to create over 1,300 affordable units
• Funding from Affordable Housing Trust Fund and other state resources
• Priority given to extremely low-income households, families, and homeless exits
• Projects include supportive services for disabilities and behavioral health
• Massachusetts combines state LIHTC, Housing Stabilization Fund, and local trusts
• 40B comprehensive permit law enables development in underproducing communities

Developers should monitor MassHousing's funding cycles for upcoming application opportunities.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: Massachusetts, Governor Healey, MassHousing, Affordable Housing Trust Fund, state LIHTC, Housing Stabilization Fund, 40B comprehensive permit, Gateway Cities, supportive housing, extremely low-income, ELI, QAP, housing bond bill, public housing modernization, first-time homebuyer, behavioral health housing, homeless services, affordable housing development, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss HUD's decision to extend the HOTMA implementation deadline for multifamily housing.

• HUD extends HOTMA multifamily deadline to January 1, 2027
• Extension provides time for software updates, staff training, and policy revisions
• LIHTC adopted HOTMA income provisions effective January 1, 2025
• Key changes include revised asset income calculations and hardship exemptions
• HUD published 2026 adjustment factors for recertification planning
• Industry groups cited software vendor readiness and training challenges

Property managers should use the extension productively to ensure full compliance readiness by the new deadline.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: HOTMA, Housing Opportunity Through Modernization Act, HUD, multifamily housing, income calculation, asset income, compliance, recertification, LIHTC, Section 8, Housing Choice Voucher, property management, NAHMA, software compliance, tenant qualification, fixed-income households, student eligibility, income verification, affordable housing, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss TD Bank's 2026 Affordable Housing Survey and market sentiment.

• Nearly 70% of developers expect to increase affordable housing production in 2026
• 85% report material and labor costs exceeding projections from 18 months ago
• Insurance costs emerging as new pain point, especially in climate-vulnerable regions
• Average development timeline stretched to 36 months from land acquisition to lease-up
• Strong rental demand and stable LIHTC equity pricing provide confidence
• 30% of developers exploring modular or prefabricated construction, up from 18% in 2024

Realistic cost projections and contingency reserves are essential to successful deal execution in this environment.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: TD Bank, developer survey, affordable housing, construction costs, insurance costs, development timeline, LIHTC equity, modular construction, prefabricated housing, HOME program, CDBG, gap financing, California, Massachusetts, Colorado, rental demand, cost containment, syndicator, investor, tax credit pricing, Spring Street Management Group

]]>

From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss the Federal Housing Finance Agency's 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac.

• Combined $176 billion cap for 2026, up from $140 billion in 2025
• Each GSE receives $88 billion allocation reflecting market growth
• At least 50% must be mission-driven targeting affordable and underserved segments
• GSE financing remains essential to LIHTC capital stack for permanent takeouts
• Higher caps support expanded 4% LIHTC pipeline from 25% bond threshold
• FHFA finalized three-year affordable housing goals through 2027

Developers should engage early with GSE lenders to lock rates and secure capacity for projects in the pipeline.

Subscribe to The Spring Street Brief for daily insights on LIHTC, Section 8, HUD policy, and affordable housing finance.

Keywords: FHFA, Fannie Mae, Freddie Mac, GSE, multifamily lending, loan purchase cap, DUS, Optigo, affordable housing, LIHTC, 4% LIHTC, 9% LIHTC, permanent financing, workforce housing, rural rental housing, mission-driven lending, housing goals, tax-exempt bonds, private activity bonds, capital stack, Spring Street Management Group

]]>