General News

Tax Credit Advisor June, 2006: A total of $4.1 billion in federal New Markets Tax Credits have been awarded in an unusual allocation round that combined $3.5 billion in regular NMTCs and $600 million in tax credits designated for areas hard-hit by Hurricane Katrina.

The U.S. Department of Housing and Urban Development’s Office of Housing has posted the draft of a new notice spelling out procedures for the delegation to state and local housing agencies of processing of new Section 202 elderly supportive housing projects.

The Community Development Financial Institutions (CDFI) Fund has issued a new informational alert pertaining to the 2009 allocation funding round for the federal new markets tax credit (NMTC) program. The deadline to apply for an allocation is April 8, 2009.

The U.S. Department of Housing and Urban Development (HUD) on December 22 issued a proposed rule to govern the sale of HUD-held single family homes and mortgage assets in designated revitalization areas .

The U.S. Senate Finance Committee on January 27 by 14-9 approved the tax component of the economic stimulus bill, after adopting a number of amendments to the original “Chairman’s mark.” The approved package proposes approximately $522 billion in tax cuts and tax incentives including many intended to save or create jobs and bolster the national economy.

The National Housing & Rehabilitation Association along with more than 30 other organizations have signed and sent to Congress a letter outlining four specific proposed changes to the low-income housing tax credit program and asking that they be included in the final economic stimulus bill that lawmakers are now crafting.

The Texas Department of Housing and Community Affairs has announced a series of six public hearings to be held around the state during April 6-13 to solicit comments on applications received by the agency in its 2009 competitive funding round for low-income housing tax credits.

The New Hampshire Housing Finance Authority recently published its 2009 Utility Allowance Schedule for its Section 8 Existing Housing Program.

The Michigan State Housing Development Authority has published its draft 2009 qualified allocation plan for its low-income housing tax credit program.

President Obama on Monday announced Ron Sims as his nominee for Deputy Secretary of the U.S. Department of Housing and Urban Development.

The U.S. Department of Housing and Urban Development has published the latest edition of its U.S. Housing Market Conditions report for the 3rd quarter of 2008.

The National Association of Homebuilders National Green Building Standard for all single-family homes, apartments and condos; land development; and residential remodeling and renovation was approved on Jan. 29 by the American National Standards Institute (ANSI).