General News

NH&RA News

NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

NH&RA News

IRS Issues Private Letter Ruling on Targeted Populations

Novogradac & Company published in its April New Markets Tax Credit Report an article exploring IRS Private Letter Ruling 200910024 (PLR), released March 6, 2009, which addresses the targeted population’s gross income requirement.

Tennessee

Tennessee Provides Initial Guidance for ARRA Implementation

Tennessee Housing Development Agency (THDA) Executive Director Ted Fellman recently issued a memo that provides a set of guiding principles that THDA will use to implement the housing tax credit relief provisions contained within the American Recovery and Reinvestment Act (ARRA) as expected guidance is made available by the Treasury and HUD.

Florida

Florida Schedules Public Hearing on ARRA

The Florida Housing Finance Corporation has scheduled a public hearing on April 8 in Tallahassee to receive comments and suggestions from interested persons relative to the methodology to be used regarding the implementation of the American Recovery and Reinvestment Act.

Arkansas

Arkansas Introduces Historic Tax Credit

Arkansas Governor Mike Beebe last week signed into law the Arkansas Historic Rehabilitation Tax Credit Bill.

Wisconsin

Wisconsin Issues Reminder Regarding New LIHTC Funds

The Wisconsin Housing and Economic Development Authority on March 27 issued a reminder to prospective applicants for low-income housing tax credits, saying that WHEDA isn’t currently accepting applications for new LIHTC funds authorized by the American Recovery and Reinvestment Act (ARRA), and isn’t accepting applications that identify these funds as a source of financing.

NH&RA News

Obama Announces Pick to Head USDA Rural Development

President Obama has announced his intention to nominate Dallas P. Tonsager to be Under Secretary of Agriculture for Rural Development, which administers federal rural housing programs.

HUD

HUD Issues Homelessness Prevention Program Guidelines

The U.S. Department of Housing and Urban Development (HUD) has issued a notice that identifies the recipients, allocation amounts, and requirements for the new Homelessness Prevention and Rapid Re-Housing Program (HPRP) established by the economic stimulus act.

HUD

HUD Solicits Comments Regarding New LIHTC Data Collection Requirements

The U.S. Department of Housing and Urban Development (HUD has published a notice soliciting public comments by 5/29/9 regarding a new data collection requirement under the low-income housing tax credit (LIHTC) program.

Arizona

Arizona Housing Agency Has New Director

Donald E. Cardon has been named as the new Director of the Arizona Department of Housing. Prior to his appointment, Cardon served as President and CEO of Cardon Development Group, LLC, a low-income housing tax credit development firm.

HUD

HUD Delays Effective Day of Income, Rent Determination Changes

The U.S. Department of Housing and Urban Development (HUD) has delayed, to September 30th, of the effective date for a final rule entitled, “˜”˜Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs.”

HUD

Obama Nominates Kanovsky to Be HUD General Counsel

President Barack Obama has nominated Helen R. Kanovsky to be General Council of HUD. Kanovsky is currently the chief Operating Officer of the AFL-CIO Housing Investment Trust.

Wisconsin

Wisconsin Waives July 2009 Start Date

The Wisconsin Housing and Economic Development Authority today waived its low-income housing tax credit (LIHTC) program’s July 2009 “start date” rule for 2008 allocations due to tight equity markets that have caused delayed closings and construction starts for many 2008 allocatees.

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