(RECAP: With the Trump administration in power, mortgage bankers see a new opening to release Fannie Mae and Freddie Mac from government control and reshape the housing finance system, marking a shift in the political landscape from the late Obama years.)
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(RECAP: Last March, the Newport News Redevelopment and Housing Authority started a 13-month renovation of every unit in several housing complexes under a pilot program by the Department of Housing and Urban Development. The program, called Rental Help Demonstration, gives public housing authorities the ability to do what they usually can’t: use private funding sources, including equity that comes from federal low-income housing tax-credit programs, to fix up housing. The housing authority makes a limited liability corporation for each complex that has been approved to be in the RAD program. Only then can it apply for low-income housing tax credits through the Virginia Housing Development Authority.)
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(RECAP: While the city has implemented some measures from its plot to expand affordable housing, other measures remain undone. The city’s 2013 Housing Master Plot (HMP) recommended 23 specific measures — or “tools” — to increase affordable housing. These tools include zoning ordinances, funding assistances, and other city programs. Eight have the highest potential to expand affordable housing, some proponents say. Of these high-impact tools, the city has implemented four so far, according to a Jan. 5 progress report from the Office of Housing.)
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