The Spring Street Brief

Epizode

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  Episode 173: Affordable Housing Preservation and Protection Act 05.10.2026 3min

  A bipartisan bill — the Affordable Housing Preservation and Protection Act — was introduced last week by Senator Lisa Blunt Rochester (D-DE) and Representatives Shontel Brown (D-OH) and Carlos Gimenez (R-FL). The legislation targets distressed HUD-assisted housing through a new loan program, expanded HUD intervention authority, and stronger community engagement requirements. The National Housing and Rehabilitation Association has endorsed the bill. For LIE-tek investors, syndicators, lenders, and compliance professionals with HUD-assisted assets in their portfolios, the bill's mechanics...
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  Episode 172: KHC's New Non-Compliant Master List, Effective 2027 02.10.2026 3min

  Kentucky Housing Corporation has announced it will publish a public Non-Compliant Master List of multifamily management companies and owners beginning January 1, 2027. Entities named on the list — for failing to meet KHC multifamily compliance policies, HUD/state regulations, or Section 42 requirements — will be barred from KHC funding applications until all issues are resolved. For LIHTC developers, syndicators, investors, and management companies active in Kentucky, this policy creates direct pipeline risk and raises the bar on pre-deal compliance due diligence.
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  Episode 171: USDA–HUD MOU Targets Rural Housing Deregulation 01.10.2026 3min

  USDA and HUD signed a historic Memorandum of Understanding on September 29, 2026, establishing a formal interagency framework to streamline environmental reviews, environmental impact statements, and physical inspections across their overlapping housing portfolios. Mandated by Section 802 of the 21st Century ROAD to Housing Act (enacted July 11, 2026), the MOU has direct implications for LIHTC developers, syndicators, and lenders working on rural deals that layer USDA Rural Housing Service financing with HUD-backed funding.
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  Episode 170: Treasury Proposes OZ Reporting Requirements 30.09.2026 2min

  The IRS has published a notice of proposed rulemaking that would impose new reporting requirements on qualified opportunity funds (QOFs) and qualified opportunity zone businesses (QOZBs). The proposal requires QOFs to file information returns with the IRS, furnish statements to investors upon disposition, and requires QOZBs to furnish statements to any QOF holding an interest in them. The rules also clarify the penalty framework for non-compliance and establish formal procedures for QOF self-certification, inadvertent certification revocation, and voluntary decertification — changes that...
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  Episode 169: 21st Century ROAD Act and the Future of HCVs 29.09.2026 3min

  The Bipartisan Policy Center convened a high-profile webinar on September 28, 2026, examining the 21st Century ROAD to Housing Act and its consequences for HUD's Housing Choice Voucher program. With HUD Assistant Secretary for Public and Indian Housing Benjamin Hobbs delivering opening remarks alongside panelists from the National Apartment Association, the Public Housing Authorities Directors Association, and Johns Hopkins University, the event signals that implementation — not just legislation — is now the central challenge for the voucher program.
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  Episode 168: CDFI Fund Opens $5 Billion 2026 NMTC Round 28.09.2026 3min

  The CDFI Fund has officially opened the calendar year 2026 New Markets Tax Credit (NMTC) allocation round, making $5 billion in tax credit authority available to Community Development Entities. With a registration deadline of October 6 and a final application deadline of November 10, the timeline is compressed — and for affordable housing developers, syndicators, and lenders who layer NMTC into LIE-tek deals, missing the early gates means sitting out the round entirely. Key Takeaways: $5 billion in NMTC allocation authority is available in the CY 2026 round — consistent with recent...
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  Episode 167: Missouri MHDC Draft 2028 QAP Open for Comment 25.09.2026 2min

  Missouri's Housing Development Commission has released its draft 2028 Qualified Allocation Plan (QAP) for public comment. MHDC is accepting written submissions through 5:00 p.m. on October 16, 2026, and a public hearing is scheduled for October 15, 2026, at 1:00 p.m. CT. For LIHTC developers, syndicators, and investors with Missouri exposure or pipeline, the draft QAP and its accompanying redline represent a critical window to identify scoring shifts, threshold changes, and policy priorities before the final version goes to MHDC's Board of Commissioners.
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  Episode 166: Torres Pushes Regulators to Cut LIHTC Capital Requirements 24.09.2026 2min

  Rep. Ritchie Torres (D-NY) has formally asked the Federal Reserve, FDIC, and OCC to reduce the Basel III risk weight for LIHTC equity investments and associated loans from 100% to 20% — an 80-percentage-point reduction that could materially change the economics of bank participation in the affordable housing tax credit market. The letter adds congressional pressure to an advocacy campaign that NH&RA and 26 other national housing organizations launched earlier this year. Key Takeaways: Rep. Torres's letter targets three federal banking regulators simultaneously: the Federal Reserve, the...
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  Episode 165: HUD Proposes CoC Incentives Beyond Housing First 23.09.2026 3min

  HUD has published a Notice of Research Justifying Additional Incentives for Certain Activities to Reduce Homelessness in the Federal Register, dated September 11, with a public comment deadline of October 13. The notice proposes offering unspecified bonuses or incentives to Continuums of Care (CoCs) that adopt homelessness reduction strategies beyond the Housing First model — a significant policy signal for supportive housing developers, LIHTC investors, and CoC-partnered operators. Key Takeaways: HUD's Federal Register notice was published September 11, 2026, with a comment deadline of...
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  Episode 164: House Financial Services Markup: FHLBank AHP and Eviction 22.09.2026 3min

  The House Financial Services Committee held a markup today featuring two bills with direct implications for affordable housing finance. H.R. 10325, introduced by Ranking Member Maxine Waters (D-CA), would raise the mandatory Federal Home Loan Bank contribution to the Affordable Housing Program from 10% to 15% of annual net earnings beginning in 2026 — a 50% increase in required AHP set-asides. H.R. 5889, the Eviction Helpline Act introduced by Rep. Ayanna Pressley (D-MA), would require HUD to stand up a dedicated helpline for tenants of federally assisted housing facing eviction.
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  Episode 163: Matt Jones Nominated as FHA Commissioner 21.09.2026 2min

  President Trump has nominated Matt Jones as FHA Commissioner and Assistant Secretary of Housing at HUD. Jones, who has been serving as Deputy Assistant Secretary for Single-Family Housing since 2025, brings deep experience across HUD, the Mortgage Bankers Association, Capitol Hill, and the private mortgage market. The nomination now awaits a confirmation hearing before the Senate Banking, Housing, and Urban Affairs Committee, with no date yet scheduled. For LIHTC investors, developers, and lenders relying on FHA multifamily programs, the leadership transition at FHA carries direct...
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  Episode 162: Fed Hikes to 4%, Raising AD&C Costs for Developers 18.09.2026 3min

  The Federal Reserve unanimously raised the federal funds rate to a target range of 3.75%–4% at its September policy meeting, citing inflation running at 3.4% year-over-year and elevated geopolitical and trade uncertainty. For LIHTC developers, syndicators, and lenders, the move translates directly into higher acquisition, development, and construction (AD&C) loan costs — compressing deal feasibility at a moment when affordable housing pipelines are already under pressure. Key Takeaways: The federal funds rate is now at a target range of 3.75%–4%, following a unanimous FOMC vote at the...
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  Episode 161: EHV-to-TPV Transition Memo from NHLP 17.09.2026 3min

  The Continuing Resolution extending federal appropriations through December 11 contains a pivotal provision — Section 153(b) — that directs HUD to issue Tenant Protection Vouchers to every family leased up with an Emergency Housing Voucher as of September 30, 2026. PHAs must complete those TPV issuances before December 31, 2026. The National Housing Law Project has released a detailed memo to guide PHAs and advocates through the transition, ensuring EHV families do not lose housing as the emergency program winds down.
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  Episode 160: New Hampshire Housing 2027 9% LIE-tek Final App Deadline 16.09.2026 2min

  New Hampshire Housing has issued a final reminder that applications for the 2027 9% LIHTC program are due Friday, September 25, 2026 at 5:00 PM via the HDS NextGen Application Portal. With a small-state allocation and a hard cutoff, developers and syndicators active in New Hampshire's affordable housing pipeline need to be submission-ready now. Key Takeaways: Final application deadline: Friday, September 25, 2026 at 5:00 PM — no late submissions accepted. Submissions must be completed through the HDS NextGen Application Portal; portal access issues must be resolved before the deadline.
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  Episode 159: Dominium Breaks Into Idaho with 251-Unit Caldwell Deal 15.09.2026 3min

  Dominium has acquired land in Caldwell, Idaho, to develop Residences at Wilson Creek — the company's first ground-up affordable housing project in the state. The 251-unit development will deliver two-, three-, and four-bedroom townhomes under the Section 42 LIHTC program, targeting family-sized affordable housing in the fast-growing Treasure Valley corridor. For LIHTC investors, syndicators, and lenders, this deal signals a meaningful geographic expansion by one of the sector's major developers into a market with historically limited affordable housing activity.
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  Episode 158: Kentucky's 2027 9% LIHTC Round Closes Sept. 11 14.09.2026 3min

  Kentucky Housing Corporation's competitive 9% LIHTC application window for the 2027 funding round closed at noon ET on September 11, 2026. For developers, syndicators, and lenders active in Kentucky affordable housing, the deadline marks the start of KHC's review and award process — and the beginning of the runway to position for the 2028 cycle. Key Takeaways: The 2027 competitive 9% LIHTC application deadline was 12:00 noon ET, Friday, September 11, 2026. KHC's submission portal experienced high traffic near the deadline — teams that submitted late should confirm receipt directly with KHC.
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  Episode 157: Affordable Housing's Fiscal Impact on Municipalities 11.09.2026 3min

  A peer-reviewed study in the Journal of Housing Economics delivers long-sought empirical ammunition for LIHTC developers, syndicators, and policymakers: large-scale affordable housing built under Massachusetts Chapter 40B generated more than $2,000 in new tax revenue per capita within three years of opening — without measurable harm to school quality, public safety, or traffic outcomes. The findings, drawn from developments built between 2002 and 2019, directly challenge the fiscal strain arguments that kill projects at the local approval stage.
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  Episode 156: North Carolina Deploys $1.46B in Affordable Housing 10.09.2026 3min

  North Carolina's Federal Tax Reform Allocation Committee, acting on recommendations from the North Carolina Housing Finance Agency, has approved tax credits and tax-exempt bonds for 53 developments that will unlock more than $1.46 billion in affordable housing construction. The awards span LIHTC, tax-exempt bonds, state loan programs, and $69.1 million in CDBG-DR disaster recovery funding for communities impacted by Hurricane Helene — making this one of the most layered capital rounds in the state's recent history. Key Takeaways: 53 developments approved across bond award cycles from...
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  Episode 155: North Carolina's $1.46B Affordable Housing Push 10.09.2026 3min

  The North Carolina Housing Finance Agency has completed its 2026 allocation round, unlocking more than $1.46 billion in affordable housing development through LIHTC, tax-exempt bonds, and a suite of state and federal loan programs across 53 approved developments. For developers, syndicators, and investors active in the Southeast, this round signals both the scale of North Carolina's pipeline and the state's strategy for making complex, layered deals work — including a significant infusion of disaster recovery capital tied to Hurricane Helene.
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  Episode 154: Tennessee THDA MTBA Round 3: $280M Now Open 09.09.2026 2min

  Tennessee Housing Development Authority (THDA) has opened Round 3 of its 2026 Multifamily Tax-Exempt Bond Authority (MTBA) program, making $280.4 million available for multifamily use. With a submission deadline of September 24, the window is narrow — and for developers, syndicators, and lenders active in Tennessee's 4% LIHTC market, timing is everything. Key Takeaways: $280.4 million in private activity bond authority is available under THDA's MTBA 2026 Round 3. Applications opened immediately upon announcement; the hard deadline is September 24, 2026.