General News

A recent report from the U.S. Treasury Department shows that nearly 28,000 jobs have been created as a result of the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program, created by the American Recovery and Reinvestment Act of 2009 (ARRA).

New York City Mayor Michael Bloomberg has announced a new affordable housing plan that would inject an additional $1 billion, bringing the total investment to build or preserve 165,000 units of affordable housing up to $8.5 billion.

Cris White has been identified by the Board of Directors as the Colorado Housing and Finance Authority’s (CHFA) finalist for its open Executive Director/Chief Executive Officer position. His official appointment will be made pending the state mandated 14-day notification period and barring any information that would affect his candidacy for the position.

The Community Development Financial Institutions (CDFI) Fund recently announced that it is soliciting comments from the public concerning the CDFI Fund’s Quarterly New Markets Report (QNMR) for New Markets Tax Credit (NMTC) allocatees under the American Recovery and Reinvestment Act of 2009 (ARRA).

The New Jersey Housing and Mortgage Finance Agency has released a draft of its proposed 2010 qualified allocation plan, which establishes selection criteria, application requirements, application fees, program restrictions and standards used for governing the state’s low-income housing tax credit (LIHTC) program.

The California Tax Credit Allocation Committee (TCAC) has released the final program regulations for the administration of its 2010 low-income housing tax credit (LIHTC) program.

The U.S. Department of Housing and Urban Development (HUD) has announced two public meetings to discuss a proposed rule that would change regulations for the Indian Housing Block Grant (IHBG) program and the Title VI Loan Guarantee program, created by the Native American Housing Assistance and Self-Determination Reauthorization Act of 2008.

NH&RA’s Council for Energy Friendly Affordable Housing (CEFAH) is pleased to announce that the U.S. Department of Energy (DOE) is amending the eligibility provisions applicable to multi-unit buildings under the Weatherization Assistance Program for Low-Income Persons. The new regulations will make it easier for owners of HUD, LIHTC and USDA assisted apartments to utilize weatherization grants. CEFAH will be providing its members with in-depth analysis of this new rule. CEFAH is a working group of some of the most active owners and managers of affordable housing. Its goal is to identify areas where significant savings could be found and work with policymakers to obtain regulatory and legislative changes that make such improvements feasible and permissible. Click here to learn more about CEFAH.

U.S. Representative Barney Frank (D-MA), chairman of the House Financial Services Committee, recently announced that the government-backed mortgage finance giants, Fannie Mae and Freddie Mac are likely to be abolished and replaced with a new system for housing finance.

The Alabama Housing Finance Agency has released its application package for the 2010 low-income housing tax credit (LIHTC) program. AHFA will accept applications beginning March 8, 2010.

The Federal Housing Finance Agency (FHFA) has sent a proposed rule to the Federal Register establishing new housing goals for Fannie Mae and Freddie Mac.  The instructions include single-family and multifamily goals. FHFA is proposing multifamily goals for low-income families and for very low-income families, both expressed in terms of minimum numbers of units financed. In accordance with HERA, the GSEs will also be reporting their funding of low-income units in small (5-50 unit) multifamily properties.

The Montana Board of Housing will hold its Annual QAP (Qualified Allocation Plan) Information Input and Exchange Session on May 14.