General News

Delaware Governor Jack Markell earlier this week signed into law Senate Bill No. 209, which authorizes a ten year extension of the state’s Historic Preservation Tax Credit program.

On July 15, the Senate Appropriations Committee approved a USDA appropriations bill for FY 2011 that would increase funds for Section 502 direct and guaranteed loans.

The U.S. Department of Housing and Urban Development (HUD) recently announced that the current receivership team, Gilmore Kean, LLC will continue to lead the Housing Authority of New Orleans (HANO) from recovery to revitalization over the next three years.

Congressman Jared Polis (D-CO) recently wrote a letter to Acting Director of the Federal Housing Finance Agency (FHFA) Edward DeMarco demand insisting that he work cooperatively with stakeholders and communities toward resolving issues under the Property Assessed Clean Energy (PACE) bond programs.

Colorado Housing and Finance Authority (CHFA) has promoted Steve Johnson to director of commercial lending. In his new role, Steve will lead CHFA’s multifamily lending, Low Income Housing Tax Credit (LIHTC) allocation, and small business lending teams.

The U.S. Department of Housing and Urban Development (HUD) recently provided guidelines that an agency must use in conducting subsidy layering reviews for newly constructed and rehabilitated structures combining other forms of government assistance, and Section 8 project-based voucher assistance.

The Internal Revenue Service (IRS) has invited comments from the public on existing regulations concerning the Low-Income Housing Tax Credit (LIHTC) program.

Federal Housing Administration’s (FHA) Commissioner David Stevens recently announced plans to implement a series of changes to the multifamily insurance programs that will update underwriting policies, increase lender and underwriter quality, and align loan application, submission and approval standards.

Massachusetts Governor Deval Patrick recently signed the state’s 2011 budget bill, which includes an extension of the state Historic Rehabilitation Tax Credit program until December 31, 2017.

NH&RA’s new Legislative Leadership Council, which met and organized on May 20, has defined its mission and strategy for making NH&RA and its councils more effective policy advocacy bodies. The Council, comprised of a small group of NH&RA members, will make recommendations to the full Association for specific legislative changes.

NH&RA’s New Markets Tax Credit Steering Committee will meet on July 21 in Dana Point, California during the 2010 Symposium on New Markets Tax Credits. The agenda for the conference has been released, and registration for the event is still open.

Members of NH&RA’s HOPE VI Council had a productive meeting with key officials of the U.S. Department of Housing and Urban Development at the Association’s recent Spring Policy Forum, May 20-21 in Washington, DC.