The timing of this pandemic can serve as wake-up call. Now is the time to respond to increasing climate events and mitigate the risks that threaten our most vulnerable communities, our homes and our lives.
This week, the House of Representatives began debate on the FY 2016 Transportation, Housing and Urban Development (THUD) bill (H.R. 2577). Representatives considered over 50 amendments before House leadership decided to postpone further action on the bill until Tuesday, June 9.
Take a tour of CAMBA Gardens in 13 photos and see why this award-winning project is a national model for healthy, supportive, affordable housing. Developed by CAMBA Housing Ventures, Inc., CAMBA Gardens Phase I is a $66.8 million, 209 unit, LEED Platinum, transit-oriented, new construction, affordable and supportive housing development located on the Kings County Hospital Center campus in Wingate, Brooklyn.
On Tuesday, February 3, Standard & Poor’s Financial Services, LLC reached a $1.375 billion settlement agreement with the US Department of Justice and 19 states and the District of Columbia. This settlement resolves allegations that the credit rating agency defrauded investors by issuing inflated ratings on residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs). As a result of the misrepresentations, investors experienced significant losses on RMBS and CDOs purchased between 2004 and 2007, which contributed to the subsequent financial crisis. While S&P has admitted to its wrongdoing, this settlement is a missed opportunity to provide much needed support to struggling families and communities.
Today HUD released new rules for implementation of the Housing Trust Fund (HTF), which was created by Congress in 2008 to support the construction, preservation and operation of affordable housing for America’s lowest-income families.
Over the course of four hours, lawmakers from both sides of the aisle grilled FHFA Director Mel Watt on an array of policy changes at the agency over the past year, including an expansion of Fannie and Freddie purchases of low-down-payment mortgages and the decision to begin funding the Housing Trust Fund and the CapitalMagnet Fund.Below is a summary of the top issues discussed at the hearing, along with a few key facts to keep in mind about each policy.
As 2014 slowly slips into the annals of history, so too does Building G, the former psychiatric ward at Kings County Hospital Center (KCHC). Demolition of the 164,600 square foot, 1942 building is now nearly complete and on-schedule. Its removal brings a renewed promise of affordable, sustainable, and supportive housing to be completed in 2016.
The congressional recess that lasts through August and until September 8 provides an opportunity to show members of Congress returning to their home states and districts what kind of impact affordable housing and community development programs like the Low-Income Housing Tax Credit (Housing Credit) and New Markets Tax Credit (NMTC) have had in their communities.
Yesterday Sen. Bob Corker (R-Tenn.), Sen. Mark Warner (D-Va.) and a bipartisan group of cosponsors introduced a bill that would dissolve Fannie Mae and Freddie Mac and establish a new system of housing finance in the U.S. This is a significant step in deciding the future of Fannie and Freddie, who were placed under government conservatorship almost six years ago.