8:59 PM
Julio Barreto
The Senate unanimously confirmed Shaun Donovan as Secretary of the Department of Housing and Urban Development (HUD). The Senate acted on the nomination on Thursday, January 22.
Treasury Opens Next Round of New Market Tax Credits
The U.S. Department of the Treasury opened the seventh round of competition for New Market Tax Credits (NMTC) in mid January. The competition will allow for $3.5 billion in tax credit authority to finance a variety of community and economic development initiatives. This year’s allocation will place an emphasis on ensuring investments in underserved rural communities.
Equity investments totaling $12.6 billion have been raised by organizations awarded tax credits. In 2007 the amount of loans and investments in low-income communities totaled $9 billion which resulted in the following:
1. Close to 2,000 businesses and real estate developments financed in low-income communities;
2. Over 68 million square feet of commercial property developed or rehabilitated;
3. 210,000 full-time construction jobs created; and,
4. 45,000 full-time jobs at businesses operating in low income communities which were created or maintained.
The deadline for submitting applications is April 8.
Organizations Seek Information on Foreclosure Caused Homelessness
A variety of organizations representing the homeless are seeking information on the impact of the foreclosure crisis on homelessness. The National Low Income Housing Coalition (NLIHC), the National Coalition for the Homeless, the National Law Center on Homelessness and Poverty (NLCHP), the National Policy and Advocacy Council on Homelessness, and the National Alliance to End Homelessness (NAEH) have joined forces to conduct the survey.
There is a survey for those serving the impacted individuals and a survey for those surviving homelessness due to foreclosures.
Interesting Read
On a Downtown Train
Obama is the first modern Metropolitan President—good news for ailing cities.
By Howard Fineman
Newsweek
One President, Two Nations
There are 'two Americas' -- one that watched the inauguration with hope, the other with skepticism.
By Charlie Cook
The National Journal
Why Banks 'Hoarding' Bailout Funds Is Good
By Jack Guttentag
The Washington Post
Freddie Will Ask For More U.S. Funds
By Zachary A. Goldfarb
The Washington Post
In Becoming a Willing Bridesmaid, Cuomo Plays Against Type
By David M. Halbfinger
The New York Times
Volunteer to Save the Economy
By Bruce Reed and John Bridgeland
The New York Times
Treasury Opens Next Round of New Market Tax Credits
The U.S. Department of the Treasury opened the seventh round of competition for New Market Tax Credits (NMTC) in mid January. The competition will allow for $3.5 billion in tax credit authority to finance a variety of community and economic development initiatives. This year’s allocation will place an emphasis on ensuring investments in underserved rural communities.
Equity investments totaling $12.6 billion have been raised by organizations awarded tax credits. In 2007 the amount of loans and investments in low-income communities totaled $9 billion which resulted in the following:
1. Close to 2,000 businesses and real estate developments financed in low-income communities;
2. Over 68 million square feet of commercial property developed or rehabilitated;
3. 210,000 full-time construction jobs created; and,
4. 45,000 full-time jobs at businesses operating in low income communities which were created or maintained.
The deadline for submitting applications is April 8.
Organizations Seek Information on Foreclosure Caused Homelessness
A variety of organizations representing the homeless are seeking information on the impact of the foreclosure crisis on homelessness. The National Low Income Housing Coalition (NLIHC), the National Coalition for the Homeless, the National Law Center on Homelessness and Poverty (NLCHP), the National Policy and Advocacy Council on Homelessness, and the National Alliance to End Homelessness (NAEH) have joined forces to conduct the survey.
There is a survey for those serving the impacted individuals and a survey for those surviving homelessness due to foreclosures.
Interesting Read
On a Downtown Train
Obama is the first modern Metropolitan President—good news for ailing cities.
By Howard Fineman
Newsweek
One President, Two Nations
There are 'two Americas' -- one that watched the inauguration with hope, the other with skepticism.
By Charlie Cook
The National Journal
Why Banks 'Hoarding' Bailout Funds Is Good
By Jack Guttentag
The Washington Post
Freddie Will Ask For More U.S. Funds
By Zachary A. Goldfarb
The Washington Post
In Becoming a Willing Bridesmaid, Cuomo Plays Against Type
By David M. Halbfinger
The New York Times
Volunteer to Save the Economy
By Bruce Reed and John Bridgeland
The New York Times
