General News

Reps. Patrick Tiberi (R-OH) and Richard Neal (D-MA) recently sent a letter to members of Congress urging their support of H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9% low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act.

HUD is revising the Actual Modernization Cost Certificate (AMCC) contained within the Public Housing Capital Fund Program, and is soliciting comments from the public regarding proposed changes to the program.

HUD’s Office of Policy Research & Development has released its U.S. Housing Market Conditions Report for the 4th Quarter of 2011. The report is a compilation of statistical data and written reports. Tabular data indicate market conditions on the national level and are presented for each quarter.

The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina.

In response to a growing number of requests to modify the restrictive covenants of housing credit apartment communities, the Ohio Housing Finance Agency (OHFA) recently established Restrictive Covenant Modification Guidelines for the review of modification requests.

The Wisconsin Housing and Economic Development Authority (WHEDA) will host four tax credit workshops that will cover the basics of the program, compliance requirements and WHEDA’s monitoring procedures.

The Federal Housing Finance Agency (FHFA) recently announced the next step in its Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas “” Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

NH&RA is pleased to offer the PowerPoint Presentations from our recent 2011 Annual Meeting & New Markets Tax Credit Symposium, which was held February 22-26 at the Breakers Resort in Palm Beach, Fla. In addition, we have included additional conference materials, relevant articles, reports, memos, etc. under the relevant session titles.

NH&RA is pleased to announce the election of following eight new directors at our 2012 Annual Meeting on February 23, 2012 at the Breakers in Palm Beach….

The National Park Service (NPS) recently published its annual report on the historic tax credit program for 2011. The report, entitled “Federal Tax Incentives for Rehabilitating Historic Buildings: Annual Report for Fiscal Year 2011,” includes information about the program’s use and performance throughout 2011.

The Virginia Housing Development Authority (VHDA) has released a memo to provide clarification for potential applicants in the state’s 2012 LIHTC funding round.

U.S. Department of the Treasury’s Deputy Secretary Neal Wolin along with U.S. Senator Mary Landrieu, U.S. Representative Cedric Richmond, and Community Development Financial Institutions Fund (CDFI Fund) Director Donna J. Gambrell, announced $3.6 billion in New Markets Tax Credit (NMTC) awards to 70 community development entities (CDEs) nationwide under the 2011 NMTC program funding round.