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IRS Issues Opportunity Zone Proposed Regulations

October 24, 2018 | Federal / Agency News

On Friday, October 19 the Internal Revenue Service (IRS) issued several critical documents relating to the Opportunity Zone Incentive. This includes:

New White House Opportunity and Revitalization Council

December 12, 2018 | Federal / Agency News

President Trump signed an executive order creating the White House Opportunity and Revitalization Council. The council, led by HUD Secretary Carson, spans 13 federal agencies with the intent of prioritizing opportunity zones in a variety of federal efforts, including grant funding, loan guarantees, infrastructure spending and crime prevention.

RAD Notice: Davis-Bacon Prevailing Wage Requirements Not Triggered

December 12, 2018 | Federal / Agency News

A new Rental Assistance Demonstration (RAD) notice from HUD amends the previous final notice by stating that “that execution of a Project Based Rental Assistance (PBRA) contract as a result of the conversion of Rent Supp, RAP, Mod Rehab, or Mod Rehab SRO contracts through RAD after the publication of this notice does not trigger Davis-Bacon prevailing wage requirements.”

New Hampshire Housing Releases Income Averaging Policy

December 12, 2018 | Affordable Housing

The New Hampshire Housing Finance Authority (NHHFA) recently issued its Income Averaging (IA) policy. Both four and nine percent Low Income Housing Tax Credit projects are eligible to select IA as a minimum set-aside.

Chairman Brady Introduces New Year-End Tax Bill

December 12, 2018 | Federal / Agency News

House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced a new year-end tax relief package. The bill includes the same provision in his original bill that clarifies that veterans are a specified group for preferences within the Low Income Housing Tax Credit (LIHTC) program and extends the LIHTC public use provisions from nine percent allocations to also include four percent bond allocations.

President Trump Announces Nomination of Mark Calabria as FHFA Director

December 12, 2018 | Federal / Agency News

The White House announced its intent to nominate Mark Calabria to take over as director of the Federal Housing Finance Agency (FHFA) following the departure of current FHFA director Mel Watt on Jan. 4, 2019.

ACTION Campaign releases updated district fact sheets

December 4, 2018 | Affordable Housing, General News

The ACTION Campaign updated its district fact sheets with new data to show the LIHTC’s impact in each congressional district. Last month they released the updated state fact sheets.

Rural Broadband Access Loans and Loan Guarantees Program

December 4, 2018 | Federal / Agency News

The U.S. Department of the Agriculture though the Rural Utilities Service is accepting applications for the Rural Broadband Access Loans and Loan Guarantees Program. Loans will be made available for the construction, improvement, and acquisition of facilities and equipment that will provide service at the Broadband Lending Speed in eligible rural areas with loans ranging from $100,000 to $25 million.

Partner Insights: Novogradac Publishes Blog Post On Bond Issuance Trends

December 4, 2018 | General News

A new note from Peter Lawrence with Novogradac and Co. analyses state use of the private activity bonds (PABs). In 2017, eleven states reported no multifamily PAB issuance, up from ten in 2016 and down from the high of 30 in 2011.

HUD published 2019 Utility Allowance Factors (UAFs)

December 4, 2018 | Federal / Agency News

HUD published the Utility Allowance Adjustment Factors (UAFs) for 2019 which will be effective on Feb. 11, 2019. Compared to 2018 UAFs, oil increased by 3.35 percent, natural gas increased by 12.62 percent, electric increased by 3.61 percent and water, trash and sewer increased by 0.09 percent nationwide.