Check out this article by Ralph Perry & Ed Brady: The Housing Shortage Can Help Put People Back to Work – How state housing finance agencies and home builder associations can make it happen.
CITC Program Sheet from THDA – 10/21/2020
|THDA has opened the Emergency Solutions Grant to a broader list of administrators. ESG-CV Part II funds are awarded to local governments and 501(c)(3) or 501(c)(4) non-profit organizations outside the entitlement communities that receive their own ESG-CV funding directly from HUD. Get more detail here.|
THDA has re-established its Reinstatement Only Program. ROP provides assistance to homeowners who have fallen behind on their mortgage loans due to a qualifying hardship that occurred after March 1, 2020. Learn more here.
Tennessee homeowners facing foreclosure are in a better position to sell their home, and avoid a financial loss, than they have been at any point in the past decade. Check out THDA research .
2020 Housing Market at a Glance –
The latest installment of THDA’s most broad, comprehensive summary of Tennessee’s housing market data is now available. HERE
|THDA launches revamped website|
|THDA recently launched its redesigned website at THDA.org. The new site is designed to make things easier for visitors to find information about THDA’s various programs and offerings, whether your a nonprofit, developer, lender or first-time homebuyer. Take a minute to look around and see what THDA has to offer. Click here for more|
|FOUR SESSION COURSE: The Art & Science of Facilitation |
Saturdays: January 9, February 13, March 13, and April 10
|Are You Ready to Take Your Neighborhood Meetings to the Next Level? LEARN MORE | REGISTER|
|FOUR SESSION COURSE: Policy & Zoning 101|
Saturdays: January 16, 23, 30, and February 6
Does the Metro Planning Process Seem Overwhelming and Confusing?
LEARN MORE | REGISTER
Hardest Hit Alabama Reopens to Help Families Affected by COVID-19 AHFA has taken action to help Alabama families affected by the COVID-19 pandemic by reopening Hardest Hit Alabama (HHA). HHA provides short-term mortgage payment assistance to those who have lost employment or income due to COVID-19.
- Eligibility Requirements:
- Maximum assistance: Up to $30,000
- Total Household income: $91,420 (includes income of all occupants 18+ years)
- Maximum Unpaid Principal: $300,000 (must include balance of all outstanding liens)
- Homeowners who are receiving or who have received mortgage payment assistance from HHA in the past are NOT eligible for additional assistance
Anticipating a high demand for this program, HHA will accept applications in cycles of 200 submissions each. Upon receipt of 200 applications, we will temporarily close the application portal to evaluate them. During this time, applicants may check their application status online to confirm they have submitted all required documents. Homeowners may get more information about HHA and submit an application by visiting www.hardesthitalabama.com.
June 3, 2020 – Sen. Blackburn’s Comments from the floor of the Senate on ASP and Nonprofits in TN.
Disaster Reconstruction Funds Update
Households in two Tennessee counties, whose homes were damaged by severe storms, tornadoes and flooding April 12-13, 2020, may qualify for grants from the Federal Home Loan Bank of Cincinnati’s Disaster Reconstruction Program (DRP) to aid their recovery. In addition, FHLB Cincinnati’s CICA programs offer discounted Advances that can be used to finance reconstruction of housing, commercial properties and infrastructure following natural disasters.
Residents of Bradley and Hamilton counties recently became eligible to receive these grants when the Small Business Administration declared them a disaster area on April 24, 2020. Homeowners whose homes were damaged or destroyed may be eligible for grants of up to $20,000 toward construction, acquisition or repair of their primary residences. Renters displaced by the severe weather or tornadoes could also be eligible to receive up to $5,000 toward the purchase of a home.
Eligibility rules for those applying for DRP funds include:
- Eligible households have either been displaced or suffered damage to their primary residence by a federally or state declared disaster occurring within the Fifth District.
- Household income must be less than or equal to 100 percent of the applicable Mortgage Revenue Bond income limits. In Hamilton County, Tenn., for a family of one or two persons, the limit is $67,800 and for a family of three or more, the limit is $77,970.
- Allowable expenses include construction, acquisition, or repair of a primary residence, which must be a single-family detached home or manufactured home permanently attached to a fixed foundation and taxed as real property where the applicant is the owner of record. FHLB funds cannot be used for expenses covered by insurance or state or federal emergency management agencies.
Shared by Norma, Fahe’s VP of Human Resources RE: Families 1st Coronavirus Response Act
On Wednesday, March 18, President Trump signed H.R. 6201, the “Families First Coronavirus Response Act,” into law. It becomes effective on April 2nd, which is a short period for taking compliance steps and budgeting for the changes. Among the provisions of the coronavirus relief bill are items relating to paid sick time and family leave, which we [McBrayer LLC] have summarized HERE, as they will have an enormous impact on employers.
Office of National Drug Control Policy
We are very excited to share that on Friday, the Administration released a new tool to assist rural community leaders in building an effective local response to the crisis of addiction, the Rural Community Action Guide: Building Stronger, Healthy Drug-Free Rural Communities.
The guide complements both the Community Assessment Tool, which gives county specific data about deaths and factors which may make a community more vulnerable to addiction, and the Federal Rural Resources Guide, which includes comprehensive information about different federal funds for rural communities impacted by addiction. The Guide also has a companion supplement, a listing of promising practices which you can find here: Rural Community Action Guide: Promising Practices.
Per Anne Hazlett, news sent on funding announcements every few weeks- to be added to that list, please email Betty-Ann Bryce
Help Community Heroes Purchase a Home – New Program! Community Heroes, in partnership with FHLB-Atlanta helps law enforcement officers, public school educators, firefighters, and other first responders purchase a home. Learn more HERE