A. J. Johnson Author Archives

Tax Credit Advisor, April 2009: The federal government has taken some initial steps to implement the new low-income housing tax credit (LIHTC) funding resources established by the economic stimulus act. But the industry is awaiting critical guidance so state housing credit agencies can begin awarding the funds to stalled LIHTC projects.

The Community Development Financial Institutions (CDFI) Fund recently announced that it had received a total of 249 applications for New Markets Tax Credits (NMTC) under the 2009 funding round.

The National Housing & Rehabilitation Association has made available the PowerPoint presentations displayed during the recent 2009 Spring Developers Forum: A Time of Opportunity, held May 11-12, 2009 at the Hyatt Regency Century Plaza in Los Angeles, California.

Today, the U.S. Department of Housing and Urban Development released Notice H 09-02, which provides guidance on the Green Retrofit Program for Multifamily Housing (GRP), created under the American Recovery and Reinvestment Act. The notice provides details on program implementation, the application process, eligible projects and the approval and allocation process.

The Virginia Housing Development Authority LIHTC Program Director Jim Chandler has issued the authority’s third notice of program updates for applicants seeking 2009 low-income housing tax credits.

Ron Sims, a former executive of King County, WA, was recently sworn in as the new Deputy Secretary of the U.S. Department of Housing and Urban Development.

The New Jersey Assembly’s proposed Historic Property Reinvestment Act (A791) recently passed the Assembly’s Environment and Solid Waste Committee by a unanimous vote and is scheduled for hearings with the Appropriations Committee and Senate Wagering, Tourism & Historic Preservation Committee.

The Illinois State General Assembly has introduced Senate and House version bills (HB0586 and SB1366) that would create an Illinois state historic rehabilitation tax credit equal to 25% of the costs involved in rehabilitation of eligible historic properties.

The California Tax Credit Allocation Committee (TCAC) has made available its application for cash in lieu of tax credits under the Tax Credit Exchange program, created by the American Recovery and Reinvestment Act.

The Alabama Housing Finance Authority (AHFA) is accepting public comments by May 20 with regards to the proposed allocation plans for the TCAP and Tax Credit Exchange programs under the American Recovery and Reinvestment Act.

Maryland’s Department of Housing & Community Development (DHCD) recently issued a notice of guidance with respect to the Tax Credit Exchange Program (TCAP) and the Tax Credit Monetization (Exchange) provisions of the American Recovery and Reinvestment Act.

Three nominees for top posts at the U.S. Department of Housing and Urban Development (HUD) were sworn in on May 4 after being confirmed by the U.S. Senate on May 1. They are: Helen Kanovsky, General Counsel; Peter Kovar, Assistant Secretary for Congressional and Intergovernmental Affairs; and John Trasviña,, Assistant Secretary for Fair Housing and Equal Opportunity.