News
IRS Releases LIHTC and Private Activity Bond Caps for 2016
The LIHTC and bond caps are the greater of $2.35 and $100, respectively, being multiplied by the state’s population, or a predetermined amount. The notice also indicates that rehabilitation expenditures will be treated as a separate new building.
New Markets Tax Credit 2015 Round Could Allocate Up to $5 Billion
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund released the Notice of Allocation Availability for the calendar year 2015 round of the New Markets Tax Credit Program. Applications are due December 16.
Update: TCAC Posts Adopted Regulation Changes to Tax Credit Program
After months of back-and-forth with the affordable housing community about proposed changes to tax credit regulations, the California Tax Credit Allocation Committee posted its final proposed version.
House Committee Chair Wants to Improve Federal Housing Programs
House Financial Service Committee Chair Jeb Hensarling (R-TX) is looking for ways to improve HUD programs and USDA rural housing programs. Feedback is due Nov 1.
WNC Promotes Wendy Yan to Vice President, Underwriting
WNC announced that 20-year affordable housing veteran Wendy Yan has been promoted to vice president of underwriting.
CohnReznick: Issues Weighing on LIHTC Program in California
Affordable housing CA State Governor Brown says no to affordable housing bills. TCAC proposes changes to the LITHC program. CohnRezick examines the potential impacts for California.
New CA Energy Efficiency Laws Will Impact Multifamily Affordable Housing
Two new California state laws aim to open opportunities for low-income families to benefit from energy efficiency investments. One law will provide funding for solar installations in multifamily affordable housing developments. The other will study obstacles faced by low-income families pursuing energy efficiency investments.
HUD Releases Operating Cost Adjustment Factors Effective February 2016
HUD established operating cost adjustment factors (OCAFs) for certain project-based assistance contracts with an anniversary date on or after February 11, 2016.
Updated RAD Quick Reference Guide Includes FSS Guidance
HUD updated the Rental Assistance Demonstration program Project-Based Rental Assistance Quick Reference Guide. The updated guide provides information on continuing Family Self Sufficiency (FSS) programs at PBRA properties.
Due Dates Announced for Closing Mixed-Finance Transactions by End of 2015
HUD Office of Public Housing Investments issued a schedule for processing mixed-finance projects intending to close by the end of the 2015 calendar year.
Behind-the-Scenes Affordable Housing Visionaries Get the Spotlight
Sheila Dillon, Chief of Housing for the City of Boston, and Bill Machen, a Boston-based tax credit attorney and partner at the law firm Holland & Knight, will each receive a 2015 Vision Award for their contributions to affordable housing and community development.
Historic Preservation Awards Celebrate New Life for Old Buildings
An old school building is keeping seniors in their neighborhood after they sell their homes. An out-of-use factory provides shelter and services to individuals with special needs. A former motor club offers tourists a sustainable place to stay. These innovative historic rehabilitations are among the finalists for J. Timothy Anderson Awards for Excellence in Historic Rehabilitation.