General News

Proposed in 2009, the state of Ohio has created the Ohio New Markets Tax Credit (ONMTC) program.

The Illinois Housing Development Authority recently announced the launch of a new website that allows users to conduct a state-wide search of rental properties to help residents find appropriate rental housing to fits their needs.

The New Jersey Housing and Mortgage Finance Agency has released its 2010 timeline for the state’s low-income housing tax credit (LIHTC) program.

The Ohio Housing Finance Agency has released the first draft of its 2011 Qualified Allocation Plan (QAP) for review and public comment.

The Virginia Housing Development Authority recently issued an update to provide clarity around certain items contained in its 2010 low-income housing tax credit (LIHTC) program application.

Doug Criscitello was sworn in on Tuesday as the U.S. Department of Housing and Urban Development’s (HUD) new Chief Financial Officer.

HUD has issued a notice announcing its intention to offer funding through a competition made available as a Notice of Funding Availability (NOFA) under its Sustainable Communities Planning Grant Program (Program). HUD is also seeking comments on the Program through this Advance Notice.

HUD has announced its annual adjustments to contract rents for Section 8 owners. The factors are based on a formula using residential rent and utility cost changes from the most current annual Bureau of Labor Statistics Consumer Price Index (CPI) survey. These factors are applied at Housing Assistance Payment (HAP) contract anniversaries for those calendar months commencing after the effective date of this notice (2/10/2010). In a separate notice, HUD also published Renewal Funding AAFs to be used exclusively for renewal funding of tenant-based rental assistance, reflecting the more recent CPI data.

Federal Housing Finance Agency (FHFA) Director Edward DeMarco recently sent a letter to ranking members of the House Financial Services Committee and Senate Banking, Housing and Urban Affairs Committee regarding the federal conservatorship of mortgage finance giants Fannie Mae and Freddie Mac

Secretary of the Treasury Timothy Geithner recently announced a new initiative under the Troubled Asset Relief Program (TARP) that would effectively offer better terms to regulated CDFIs than are available to commercial banks and facilitate investment of low-cost capital in CDFIs that lend to small businesses in distressed communities.

The U.S. Treasury Department and Community Development Financial Institutions (CDFI) Fund are seeking public responses by April 5 to questions relating to a planned new information collection project for the federal new markets tax credit program.

The U.S. Department of Housing and Urban Development has adjusted its statutory mortgage limits for its multifamily housing loan programs for calendar 2010, effective January 1, 2010. The limits are adjusted annually based on changes in an index.