News
NTCIC Hosts Historic Tax Credit Lobby Day June 8th
NTCIC seeks participants for June 8th lobby day in favor of the Federal Historic Tax Credit and additional efforts to expand support for the Historic Tax Credit Improvement Act.
New IRS Guidance for “Begun Construction” Test for Renewable Energy Tax Credits
Nixon Peabody’s Forrest Milder explains new guidance for wind, geothermal, biomass, solid waste, and hydro projects, including new safe harbor and disaggregation rules.
HUD Will Resume Conducting MORs on a Limited Basis
MORs property inspections will be conducted by the 42 existing Project-Based Contract Administrators as part of their amended interim contracts with HUD, mostly likely starting on a limited number of properties.
HUD Makes First National Housing Trust Fund Allocations to States
For the first time ever, HUD allocated nearly $174 million through the nation’s Housing Trust Fund. By law, each state is allocated a minimum of $3 million.
Cantwell Seeks Personal Stories to Strengthen Case for LIHTC Expansion
In an attempt to strengthen the LIHTC program through federal legislation, Senator Cantwell is seeking personal stories of individuals and families who have struggled to find affordable housing and/or have experienced homelessness. NH&RA encourages our members who own and manage affordable housing properties to share this opportunity with their tenants.
HUD Issues Criteria States Must Use to Select HTF Recipients
If the State plans to select applications submitted by eligible recipients, the HTF allocation plan must include the application requirements and the criteria for the selection of applicants to meet the specified required funding priorities.
HUD Publishes FY-2016 Annual Adjustment Factors for Section 8
HUD published Annual Adjustment Factors, which are used to adjust contract rents for units assisted in certain Section 8 housing assistance payment programs during the initial term of the HAP contract.
CDFI Fund Combines CY 2015 and 2016 Rounds of New Markets Tax Credit Program
By combining the CY 2015 and CY 2016 allocation rounds, the CDFI Fund will be able to announce the allocation of New Markets Tax Credits in the year for which they are authorized, and will be able to help more communities access the benefits of the tax credits sooner.
When Allocating LIHTCs, Every State Considers Existing Revitalization Plans
Novogradac recently compiled a list of agencies’ criteria for addressing the community revitalization plan preference and found that all states have some form of recognizing CRPs or an equivalent, including target areas or redevelopment plans.
Massachusetts Case Reveals Impact of Last Summer’s Disparate Impact Decision
Tenants at Burbank Apartments in Massachusetts sued when the building’s owner decided not to renew a Section 8 contract with HUD, arguing that it would disproportionately impact people of color. The court’s final decision was made after careful consideration of last summer’s Supreme Court ruling on disparate impact and the Fair Housing Act.
HUD Solicits Applications for $30 Million in CNI Implementation Grants
HUD is soliciting applications for the FY2016 Choice Neighborhoods Implementation Grants program. The maximum grant award is $30 million. Applications are due on June 28, 2016.
Upcoming Workshops Aim to Improve Affordable Housing Access to Renewable Energy
HUD is holding a series of three regional workshops to discuss affordable housing and solar. These workshops will help providers and owners understand the tools and resources available via HUD’s RENEW300 initiative.