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2024 Update: Local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

Earlier this month, DFI examined how local governments in North Carolina have stepped in to make new affordable housing construction economically viable after a historic increase in construction costs and elevated interest rates. In August, the North Carolina Housing Finance Agency (NCHFA) released the latest funding awards for 2024.

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How local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

A June 2024 survey of the nation’s largest developers found that two-thirds of multifamily projects in the pipeline are delayed because they are no longer economically feasible under current conditions. While 9% tax credits typically funded over 2,000 units annually in past years, only about 1,400 units were funded in both 2022 and 2023.

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Cities and counties can take key steps to avoid costly ransomware attacks

American City & Country

The average (mean) cost for state and local government organizations to recover from a ransomware attack was $2.83 million in 2024, more than double the $1.21 This is a sample of the data in the “State of Ransomware in State and Local Government 2024 report.” Motorola Solutions established the group in 2022.

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Recent Trends in Real Estate Development: Winter 2024

Community and Economic Development Program of UNC

These posts are meant to inform local governments about current conditions facing private developers and development projects in their communities. However, some economists have said that higher than expected inflation numbers released in January 2024 could delay those rate cuts.

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How to Convince Your Boss to Send You to the Reclaiming Vacant Properties Conference

Center for Community Progress

When : October 9-11, 2024. The room rate ends on September 16, 2024 or when the room block sells out. You’ll learn about new laws and issues affecting vacant property. Your community is facing different challenges in 2024 than it was in 2007, and even in 2022. The sessions at RVP reflect that!

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ARPA SLFRF Update: Interim Final Rule Expands Eligible Uses

Center for Community Progress

This blog provides an update on a new Interim Final Rule for the American Rescue Plan Act State and Local Fiscal Recovery Fund (ARPA SLFRF). To quote Treasury directly, “ (T)he existing eligible uses, as discussed in the 2022 final rule, remain unchanged. For background on ARPA SLFRF, please visit the U.S.

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Why Federal Down Payment Assistance and Closing Cost Reform Are Two Sides of the Same Coin

The Stoop (NYU Furman Center)

These programs, which are aimed at assisting first-time homebuyers (FTHBs), are primarily run by state and local governments as well as non-profit organizations. 1 See “Down Payment Assistance Programs & Grants by State 2024,” [link]. percent from 2019 to 2022 (the latest available). ” April 1, 2024.

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