General News
DCA Releases Forms for LIHTC 10% Test
for the certification of the 10% test for low-income housing tax credit (LIHTC) allocatees.
Arkansas Issues Section 1602 Update
The Arkansas Development Finance Authority recently announced its intent to utilize 2010 Exchange funds as additional gap financing for 2010 tax credit applicants with a substantial investor purchasing the credits for $.65 or more.
NMTC Quarterly Reporting Deadline Reminder
New markets tax credit (NMTC) allocatees that received a NMTC allocation under the American Recovery and Reinvestment Act (ARRA) must submit their quarterly new markets reports by April 10.
DOE Ruling Expands Eligibility for Weatherization Funds
The U.S. Department of Energy (DOE) recently implemented a new ruling that expands the eligibility of projects for Weatherization Assistance Program (WAP) funding.
CDFI Fund Schedules Informational Calls on Capital Magnet Fund
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is conducting two separate conference calls for potential applicants to the Capital Magnet Fund.
Jobs Bill Passes House; Provisions Include LIHTC, NMTC & Build America Bonds
The US House of Representatives passed a $16.8 billion package of tax incentives for state and local governments and small businesses Wednesday, the second measure in the Democrats’ “jobs agenda” to pass the chamber this month.
National Housing Conference Releases Two Papers on Coordinating Housing, Transportation, and Workforce Policies
The National Housing Conference (NHC) has issued two new reports on coordinating housing, transportation and workforce policies.
Proposed Jobs Bill Includes Key Tax Provisions
House Ways and Means Committee Chairman Sander M. Levin (D-MI), recently introduced draft legislation that would make tax-exempt bond-financed properties eligible for the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program, and allow the new markets tax credit (NMTC) to be used to offset the alternative minimum tax (AMT).
HUD Requests Comments on ARRA Reporting
The U.S. Department of Housing and Urban Development (HUD) today issued a request for comment related to its American Recovery and Reinvestment Act Section 1512 reporting.
CDFI Funds Seeks Reviewers for Capital Magnet Fund
The Community Development Financial Institutions (CDFI) Fund is seeking reviewers to assist in its review of applications received under the FY 2010 funding round of the new Capital Magnet Fund (CMF). This program will provide competitively awarded grants to CDFIs and qualified nonprofit housing organizations to finance affordable housing and related community and economic development activities.
Rick Garcia is sworn in as Regional Director in HUD’s Region VIII
Rick M. Garcia was sworn in as the U.S. Department of Housing and Urban Development’s new Regional Director for Region VIII serving the six states in HUD’s Rocky Mountain Region which includes Colorado, Montana, North Dakota, South Dakota, Wyoming and Utah.
California Issues Revised Application Q&A
California Tax Credit Allocation Committee has published a revised LIHTC application Q & A has been revised as of March 19, 2010.