From Spring Street Management Group, this is The Spring Street Brief — your daily briefing on affordable housing in America. Today we discuss Oklahoma's housing affordability paradox and its implications for LIHTC development.

• Oklahoma Watch analysis reveals paradox: vacant rental units exist yet affordable options remain scarce
• Disconnect illustrates limitations of supply-side solutions alone for affordability
• OHFA has made significant LIHTC investments over 50-year history
• Mismatch persists for extremely low-income renters below 30% AMI
• Market-rate vacancy doesn't translate to affordability for lowest-income households
• OHFA QAP includes incentives for lower income tiers but economics remain challenging
• 30% AMI targeting requires substantial additional subsidy beyond LIHTC equity

As LIHTC allocations expand under OBBBA, ensuring production reaches households with greatest need requires intentional QAP targeting and complementary resources like project-based vouchers.

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

Keywords: Oklahoma, OHFA, Oklahoma Housing Finance Agency, LIHTC, affordable housing, housing paradox, vacancy rate, extremely low-income, 30% AMI, income targeting, QAP, Qualified Allocation Plan, project-based vouchers, Section 8, Housing Choice Voucher, supply-side, housing shortage, deep affordability, gap financing, 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 North Carolina's legislative debate over LIHTC property taxation.

• North Carolina House Committee considers legislation on LIHTC property tax treatment
• Some jurisdictions assess LIHTC properties at values reflecting income-restricted rents
• Critics argue reduced assessments shift tax burden to other property owners
• Advocates counter that assessments appropriately reflect deed-restricted market value
• Higher property taxes would increase operating costs and potentially threaten financial viability
• NC Housing Finance Agency testified on potential pipeline impacts from changes
• Committee examining PILOT agreements and standardized assessment methodologies from other states

Developers with North Carolina projects should monitor this legislation closely. Changes could affect pending applications and existing properties approaching compliance period end.

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

Keywords: North Carolina, NCHFA, North Carolina Housing Finance Agency, LIHTC, property tax, tax assessment, deed restriction, income-restricted rents, PILOT, payment in lieu of taxes, operating costs, net operating income, debt capacity, equity pricing, affordable housing production, compliance period, tax loophole, 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 FHFA's expansion of GSE LIHTC investment authority.

• FHFA doubles annual LIHTC equity investment cap for Fannie Mae and Freddie Mac to $2 billion each
• Total GSE LIHTC investment capacity now $4 billion annually, up from $2 billion
• At least 50% of investments must support underserved markets
• 20% of underserved allocation specifically directed to rural areas
• GSE investments provide countercyclical market stability during reduced bank appetite periods
• Expanded caps coincide with larger LIHTC pipeline from OBBBA allocation increase
• GSE participation valuable for deals in smaller markets less attractive to traditional bank investors

Developers should note GSE investments come with specific underwriting requirements and reporting obligations. Work with experienced syndicators for smooth execution.

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

Keywords: FHFA, Federal Housing Finance Agency, Fannie Mae, Freddie Mac, GSE, LIHTC equity, investment cap, underserved markets, rural housing, tax credit investor, syndicator, countercyclical, market stability, OBBBA, affordable housing goals, bank investors, underwriting requirements, 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 Hawaii's 2026 affordable housing funding round.

• Hawaii HHFDC announces 2026 funding round combining LIHTC, Hula Mae bonds, and Rental Housing Revolving Fund
• Hawaii faces among highest housing costs nationally with Honolulu median rents exceeding $2,500
• Geographic isolation and limited land create unique development constraints requiring deep subsidy
• Hula Mae program provides tax-exempt bond financing paired with 4% LIHTC
• 25% bond threshold enables more projects to qualify with smaller bond allocations
• Rental Housing Revolving Fund offers below-market gap financing loans
• QAP priorities include neighbor island projects and Native Hawaiian community developments

Construction costs in Hawaii typically exceed mainland averages by 30% or more. Developers should build appropriate contingencies into applications.

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

Keywords: Hawaii, HHFDC, Hawaii Housing Finance and Development Corporation, LIHTC, 4% LIHTC, Hula Mae, tax-exempt bonds, Rental Housing Revolving Fund, Honolulu, neighbor islands, Native Hawaiian, bond volume cap, 25% threshold, construction costs, gap financing, QAP, sustainable building, 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 Arizona's 2026 funding availability for 9% LIHTC and National Housing Trust Fund resources.

• Arizona Department of Housing releases 2026 NOFA for 9% LIHTC and National Housing Trust Fund
• NOFA implements 2026-2027 Qualified Allocation Plan for competitive funding round
• 2026 allocation reflects enhanced federal per capita amount following OBBBA increase
• Priority for projects serving extremely low-income households at or below 30% AMI
• NHTF provides gap financing with 30-year affordability requirements for deeper targeting
• Geographic set-asides ensure distribution across rural areas, tribal lands, and smaller metros
• QAP scoring emphasizes readiness with points for 12-month construction start capability

Arizona faces estimated shortage of over 140,000 affordable rental units, particularly in the Phoenix metropolitan area.

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

Keywords: Arizona, Arizona Department of Housing, ADOH, LIHTC, 9% LIHTC, National Housing Trust Fund, NHTF, NOFA, Notice of Funding Availability, QAP, Qualified Allocation Plan, extremely low-income, 30% AMI, Phoenix, Tucson, tribal lands, rural housing, gap financing, site control, affordable housing shortage, 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 Minnesota Housing Finance Agency's analysis of the One Big Beautiful Bill Act's implementation.

• Minnesota Housing submits detailed correspondence to state legislators on OBBBA impact
• 12% per capita increase translates to approximately $8 million additional annual credit authority
• Expansion enables estimated 400-500 additional affordable units per year in Minnesota
• 25% bond threshold expands eligibility for acquisition-rehabilitation projects
• Reduced bond proceeds create new gap financing challenges requiring creative solutions
• Private activity bond volume cap coordination remains essential across four issuing agencies
• Permanent allocation increase provides long-term planning certainty for development pipelines

Minnesota Housing is updating underwriting standards and encourages developers to schedule pre-application meetings to discuss project-specific impacts.

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

Keywords: Minnesota Housing, Minnesota HFA, OBBBA, One Big Beautiful Bill Act, LIHTC, 9% LIHTC, 4% LIHTC, per capita allocation, private activity bonds, PAB, bond volume cap, acquisition-rehabilitation, gap financing, QAP, Qualified Allocation Plan, underwriting standards, affordable housing production, state housing finance agency, 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 CREA's record-breaking LIHTC fund closing.

• CREA closes largest-ever LIHTC fund at $403 million for affordable housing developments nationwide
• Fund reflects expanded pipeline from 12% OBBBA allocation increase and 25% bond threshold
• Investor base includes regional and national banks seeking CRA credit, insurance companies, and ESG-focused corporations
• Fund oversubscription indicates capital availability not currently constraining production
• Pricing in mid-80s to low-90s cents per dollar of credit, consistent with 2026 market trends
• Fund prioritizes high-opportunity areas and extremely low-income household projects
• Geographic diversity across Midwest, Southeast, and Western regions

For developers, the successful closing signals equity availability for well-structured deals throughout 2026. Key constraints remain gap financing and construction cost management.

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

Keywords: CREA, Community Reinvestment Act, LIHTC fund, tax credit equity, syndicator, affordable housing investment, CRA credit, ESG, OBBBA, One Big Beautiful Bill Act, 25% bond threshold, 4% LIHTC, 9% LIHTC, investor appetite, credit pricing, high-opportunity areas, extremely low-income, gap financing, construction costs, 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 delay of fiscal year 2026 income limits.

• HUD announces FY 2026 income limits release delayed to May 1, 2026
• Delay stems from Census Bureau's late release of 2024 American Community Survey data
• Income limits determine tenant eligibility at 30%, 50%, 60%, and 80% AMI thresholds
• Properties with April recertifications should continue using 2025 income limits until new figures published
• Lease-up properties targeting spring occupancy face particular challenges
• HUD Secretary Scott Turner emphasizes importance of accurate underlying data
• State HFAs expected to issue guidance on QAP applications and compliance monitoring

Property managers should document interim procedures and be prepared to adjust if new limits affect tenant eligibility.

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

Keywords: HUD, income limits, FY 2026, area median income, AMI, Census Bureau, American Community Survey, LIHTC compliance, tenant eligibility, recertification, property management, Section 8, Housing Choice Voucher, lease-up, state housing finance agency, QAP, Scott Turner, affordable housing, income verification, 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 Treasury Department's correction to 2026 LIHTC state allocation ceilings.

• Treasury corrects 2026 state ceiling calculations for 9% low-income housing tax credits
• Revised figures reflect permanent 12% allocation increase under One Big Beautiful Bill Act
• 2026 state ceiling: greater of $3.416 multiplied by state population or $3,953,600 minimum floor
• Correction addresses calculation error that understated allocations in several states
• Large states like California, Texas, and New York gain tens of millions in additional credit authority
• Small state minimum ensures adequate allocations for Wyoming, Vermont, and Alaska
• Industry groups flagged discrepancy; Treasury's swift correction ensures full OBBBA intent realized

State housing finance agencies should update their 2026 allocation projections accordingly. Developers with pending applications should confirm with state agencies whether corrected figures apply to current funding cycles.

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

Keywords: Treasury Department, LIHTC, Low-Income Housing Tax Credit, 9% LIHTC, state allocation ceiling, per capita multiplier, One Big Beautiful Bill Act, OBBBA, IRS, state housing finance agency, HFA, QAP, Qualified Allocation Plan, tax credit allocation, affordable housing, small state minimum, California, Texas, New York, Wyoming, Vermont, Alaska, Spring Street Management Group]]>

• 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