Affordable Housing Industry Receives Good News from Washington

As 2015 came to a close, the affordable housing industry enjoyed two welcome developments from the federal government. The first is a fiscal year (FY) 2016 omnibus appropriations bill that was considerably kind to affordable housing, as many programs saw funding increases versus 2015. The second was the long-awaited permanent floor for the 9% low-income housing tax credit (LIHTC) interest rate, providing more equity and much-needed certainty for developers nationwide.