General News

HUD Recently released Housing Notice H-2014-14 to provide guidance about policies and procedures for transferring all or a portion of any remaining budget authority of a project-based Section 8 Housing Assistance Payments (HAP) Contract to one or more contracts.

This week the California Tax Credit Allocation Committee (TCAC) and Other Agencies released the state’s long awaited California Affordable Housing Cost Study. Data was collected and analyzed from hundreds of multifamily projects completed between 2001-2011.

HUD recently released a Notice in the Federal Register announcing the final fiscal year (FY) 2015 Fair Market Rents (FMRs) for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Programs.

A key element in the development or acquisition of a low-income housing tax credit (LIHTC) property is the real estate appraisal.

HUD recently issued guidance about combining Section 8 Housing Assistance Payment (HAP) contracts that contain similar provisions and those that contain differing provisions for Multifamily Field Office Staff.

HUD recently released a Notice in the Federal Register announcing guidelines for Housing Credit Agencies (HCAs) to follow in implementing subsidy layering reviews in accordance with the Housing and Economic Recovery Act of 2008 (HERA).

HUD recently published a Notice in the Federal Register to release a new assessment tool for grantees to take advantage of when preparing Affirmatively Further Fair Housing (AFFH) plans.

On September 29, California Governor Jerry Brown vetoed A.B. 1399, a bill to create a state new markets tax credit (NMTC), and A.B. 1999, to create a state historic rehabilitation tax credit (HTC).

Grace Robertson, a longtime analyst with the Internal Revenue Service (IRS) recently announced her retirement from the agency.

The Internal Revenue Service (IRS) today released its updated audit technique guide (ATG) for the Low-Income Housing Tax Credit (LIHTC) program. This guide was prepared to assist IRS examiners in auditing owners of LIHTC properties.

The Internal Revenue Service (IRS) published that $2.59 million of unused LIHTCs carryovers for calendar year 2014 will be allocated to 35 qualified states and Puerto Rico.

Governor Martin O’Malley announced that Raymond A. Skinner, who has served as Secretary of DHCD since 2007, is retiring at the end of the month and that he will appoint Clarence J. Snuggs, the current Deputy Secretary of DHCD, as acting secretary effective September 1, 2014