General News

NH&RA is pleased to announce that eight member firms have been selected to participate in the Federal Housing Administration’s (FHA) Multifamily Low-Income Housing Tax Credit Pilot program.

In recently released Notice H 2012-5, HUD provides guidance to Owners, Management Agents and residents of HUD Multifamily insured and assisted properties to stress the importance of prevention, identification, and treatment of infestations in rental housing.

HUD has posted a new report on its HUD USER website entitled, “Housing Units that Serve Both the Renter and Owner Markets.”

HUD has announced that Mr. Kerry Hickman has been selected for the position of Director, Office of Housing Assistance and Contract Administration Oversight (OHACAO).

The Ohio Housing Finance Agency (OHFA) has released its Community Housing Development Organization (CHDO) Certification Application for the year July 1, 2012 through June 30, 2013.

The Government Accountability Office (GAO) has released a new report that addresses the use of new markets tax credits (NMTC) in both metropolitan and non-metropolitan areas.

The Massachusetts Department of Housing and Community Development (DHCD) has posted a Draft 2012 Consolidated Annual Action Plan which dictates the funding objectives of DHCD for the Community Development Block Grant (CDBG), HOME, Emergency Shelter Grants (ESG), and Housing Opportunities for Persons with AIDs (HOPWA) programs.

Last night’s State of the Union address offered some interesting new insight into the President’s policy priorities for the upcoming year. I was surprised that the President emphasized tax reform so early and often. While President Obama did not cite the low income housing tax credit, historic tax credit or new markets tax credit directly there was a strong emphasis on providing tax relief for businesses that create domestic jobs.

The Federal Housing Administration (FHA) has announced it is planning to launch the first phase of its Multifamily Low-Income Housing Tax Credit Pilot program, which will test an accelerated approval process for the purchase or refinancing of LIHTC properties.

The Obama Administration released its FY 2013 budget on February 13, 2012, proposing spending levels for federal departments, agencies, and programs for the fiscal year that begins October 1, 2012. Click here for background on the federal budget process.

The Pew Center on the States recently released a report entitled “Evidence Counts: Evaluating State Tax Incentives for Jobs and Growth” that found that while every state offers tax incentives to attract, retain, and expand businesses and jobs, no state ensures that policy makers rely on good evidence about whether these investments deliver a strong return.

The Washington State Housing Finance Commission (WSHFC) has released the state’s FY 2013 workshop schedule which includes tax credit compliance courses for advanced and beginner participants and a bond compliance course.