General News

The California Tax Credit Allocation Committee (TCAC) has issued a memo in response to public comments received with regards to proposed regulation changes to the 2009 low-income housing tax credit program. Pursuant to comments received, TCAC will offer a set of revised recommendations to Committee for consideration and adoption on February 25, 2009.

The Alabama Housing Finance Authority’s application cycle for 2009 low-income housing tax credits will include a mandatory online portion.

House Financial Services Committee Chair Barney Frank (D-Mass.) laid out the committee’s policy priorities for 2009 in a wide ranging press conference today, February 3. The agenda includes a number of affordable housing related items.

The North Dakota Housing Finance Agency has published its final 2009 qualified allocation plan for its low-income housing tax credit program.

The U.S. Department of Housing and Urban Development is requesting public comment on a proposed 60-day delay of the effective date of a final rule entitled, “˜”˜Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs.”

Freddie Mac has announced it financed $24 billion in multifamily whole loan and bond guarantee business in 2008, a more than 10 percent increase over its 2007 volume.

The Affordable Housing Tax Credit Coalition (AHTCC) is accepting entries for the 15th Annual Charles L. Edson Tax Credit Excellence Awards competition.

Global Green USA has completed its 4th annual analysis and ranking this year after looking at the 2008 Qualified Allocation Plans (QAPs) for all 50 states.

Fannie Mae announced that the company, through its lender and housing partners, financed $35.5 billion in multifamily rental housing in 2008.

The California Tax Credit Allocation Committee has issued a notice that defines 2009 threshold basis limits for 9% and 4% tax credit applications.

The U.S. Senate voted to adopt on SA 161 on February 4. Offered by Senator Kit Bond (R-MO) this amendment to the HR1: The American Recovery and Reinvestment Act of 2009 would provide $2,000,000,000 in gap funding for LIHTC projects to be available through September 30, 2011. There are several amendments still waiting to be considered that could impact the LIHTC Program.

The Wisconsin Housing and Economic Development Authority has issued a memo to provide clarification regarding the policies and requirements it will employ in its 2009 competitive low-income housing tax credit funding rounds. These clarifications address what WHEDA will do with applications that meet or fail to meet the threshold criteria, what it will do with applications that meet the threshold criteria but don’t receive an allocation, which unsuccessful applicants can re-apply in the future, and other areas.