General News

The Georgia Department of Community Affairs (DCA), in cooperation with the U.S. Department of Housing and Urban Development (HUD), announced a new Rental Assistance Demonstration (RAD) Multi-Site Bond Program in Georgia. DCA will qualify a small group of developers to work with public housing authorities (PHAs) to redevelop the PHAs’ property/ies with the majority of units as RAD units (at least 80% of total post-redevelopment units).

The National Trust for Historic Preservation, Preservation Action, the National Conference of State Historic Preservation Officers and the Historic Tax Credit Coalition are again sponsoring a national sign on letter to demonstrate support for the federal Historic Tax Credit (HTC) and influence discussions now underway in the Senate to revise the US Tax Code.

Starting April 30, 2015, the U.S. Department of Housing and Urban Development Secretary will have the authority to approve requests to transfer project-based rental assistance, debt held or insured by the Secretary, and statutorily required income-based use restrictions from one multifamily housing project to another (or between several such projects).

The IRS released the 2015 Calendar Year Resident Population Figures. The notice provides population figures to calculate the credit ceiling for low-income housing tax credits (LIHTC)and volume caps for tax-exempt private activity bonds.

U.S. Senators Rob Portman (R-OH) and Jeanne Shaheen (D-NH) introduced a bill to encourage energy efficiency in housing that is subsidized by the federal government. The Energy Savings and Industrial Competitiveness Act of 2015 (S. 720) authorizes the U.S. Department of Housing and Urban Development’s pay-for-success (PFS) demonstration to improve the energy efficiency of government-supported multifamily properties.

A recent notice in the Federal Register outlines how U.S. Department of Agriculture (USDA) will operate the Rural Development Voucher Program in FY 2015.

On March 24, 2015, from 2:00-4:00pm EST, the U.S. Department of Housing and Urban Development Rental Assistance Demonstration (RAD) Team will offer a training on the relocation rules applicable to 1st Component public housing conversions.

The Affordable Housing Tax Credit Coalition (AHTCC) is accepting entries for the 21st Annual Charles L. Edson Tax Credit Excellence Awards. This national awards program celebrates the best in affordable rental housing development. Projects must have been placed in service on or after Jan. 1, 2012.

The U.S. Department of Housing and Urban Development announced it awarded $150,369,989 in rental assistance to 25 state housing agencies. The awards will support the state agencies in providing permanent affordable rental housing and supportive services to extremely low-income persons with disabilities.

The U.S. Department of Housing and Urban Development released FY 2015 Income Limits. The income limits determine who’s eligible for HUD assisted housing programs.

U.S. Senator Roy Blunt (R-MO) introduced legislation to make the New Markets Tax Credit (NMTC) program permanent, provide an annual allocation of credits indexed to inflation, and exempt NMTC investments from the Alternative Minimum Tax.

Affordable Housing Finance released its list of the top affordable housing lenders for 2014. Seventeen NH&RA members were included on the list, with Citi Community Capital in the #1 spot for the sixth year in a row.