General News
HUD Publishes Operating Cost Adjustment Factors
HUD has published the 2010 Operating Cost Adjustment Factors (OCAF).
Hawaii PHA Proposes Dismantling Public Housing
The Hawaii Public Housing Authority is considering a proposal that would effectively dismantle the state’s oversight of public housing.
HUD Releases Operating Cost Adjustment Factors for 2010
The U.S. Department of Housing and Urban Development has released the operating cost adjustment factors (OCAF) for 2010. OCAFs are used to calculate or adjust renewed rents for projects insured by FHA under Section 221(d)(3) and Section 236.
U.S. Senators Introduce Bills to Extend GO Zone Credits
U.S. Senators Roger Wicker and Thad Cochran of Mississippi recently introduced legislation that would extend the Gulf Opportunity Zone (GO Zone) bonus tax credit, which has been an integral tool in attracting investment to the Gulf Coast after the devastation caused by Hurricane Katrina in 2005.
IRS Announces Adjusted LIHTC, Bond Cap Rates for 2010
The Internal Revenue Service (IRS) recently announced in Revenue Procedure 2009-50 the inflation-adjusted low-income housing tax credit (LIHTC) and private activity bond caps for 2010.
CDFI Fund Announces NMTC Awardees
The Community Development Financial Institutions (CDFI) Fund recently announced approximately $5 billion in funding to 90 organizations through the New Markets Tax Credit (NMTC) Program, including approximately $1.5 billion provided through the American Recovery and Reinvestment Act (ARRA).
FED Publishes Report on Ways to Improve LIHTC Program
The Federal Reserve Board recently released a collection of articles from LIHTC practitioners and experts that focuses on possible opportunities to strengthen the Low Income Housing Tax Credit (LIHTC) program.
Treasury Blocks Fannie Mae LIHTC Sale
The US Treasury Department has denied a request from Fannie Mae to transfer nearly $3 billion of the equity interests in its low-income housing tax credit (LIHTC) investments to third-party investors Goldman Sachs Group Inc. and Berkshire Hathaway Inc.
Arizona Releases Draft of 2010 QAP
The Arizona Department of Housing recently released the first draft of its 2010 qualified allocation plan (QAP), used to administer the federal low-income housing tax credit program through ADOH. A number of significant changes are proposed for the 2010 draft.
California Releases Applications for LIHTC Exchange, Gap Financing
The California Tax Credit Allocation Committee recently released its 2009 applications for 4% and 9% tax credit exchange and gap financing.
Colorado Releases Draft 2010 QAP
The Colorado Housing and Finance Authority has released a draft version of its 2010 qualified allocation plan (QAP). The document, used to govern the low-income housing tax credit (LIHTC) program, includes the state’s tax credit allocation process, underwriting and scoring criteria, energy efficiency requirements, fee schedules and other program requirements.
Colorado Publishes Green Building Criteria for 2010 LIHTC Applicants
The Colorado Housing and Finance Authority recently published its new Green Communities Criteria and Certification Form. Beginning in 2010, to be eligible for LIHTC through CHFA, a project must comply with all of the mandatory provisions of the Green Communities criteria.