News

The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for information about Section 42, the Low-Income Housing Tax Credit (LIHTC), and communicates technical knowledge and skills, guidance, and assistance for developing LIHTC properties.

HUD submitted a notice in the Federal Register requesting comments on technical processing requirements for multifamily project mortgage insurance.

The Department of Treasury’s Internal Revenue Service (IRS) recently invited public comments on carryover allocation documents, election statements, and binding agreements related to Low-Income Housing Tax Credit (LIHTC) and Section 42 utility allowance regulations.

The Community Development Financial Institutions (CDFI) Fund today invited public comment concerning the annual Community Investment Impact System (Annual CIIS Report) required from Community Development Financial Institutions (CDFIs) and Community Development Entities (CDEs) participating in CDFI Fund programs including the New Markets Tax Credit (NMTC) program.

Utah Governor Gary R. Herbert approved the 2014 Utah Qualified Allocation Plan (QAP) on August 20, 2013

New York State Homes and Community Renewal (HCR) announced the latest round of available Low-Income Housing Credit (LIHC), Housing Trust Fund (HTF), HOME Program (HOME) and State Low-Income Housing Tax Credit Program (SLIHC) funds, as well as the new Rural and Urban Community Investment Fund (CIF), available through the Unified Funding application process.

The Community Development Financial Institutions Fund (CDFI Fund) recently released the Notice of Allocation Availability (NOAA), which officially opens the 2013 round of competition under the New Markets Tax Credit Program (NMTC Program). Other updates include the release of the electronic application and revisions to the Application Q&A.

HUD recently released the final rule (24 CFR Part 891) in the Federal Register governing the use of funding for Section 202 Supportive Housing for the Elderly Program (Section 202) and the Section 811 Supportive Housing for Persons with Disabilities Program (Section 811) to streamline the requirements applicable to Section 202 and Section 811 mixed-finance developments.

President Obama’s Hurricane Sandy Rebuilding Task Force, chaired by HUD Secretary Shaun Donovan, recently released a rebuilding strategy to serve as a model for communities across the nation facing greater risks from extreme weather and to continue helping the Sandy-affected region rebuild.

The U.S. Department of Treasury’s updated 2013-2014 Priority Guidance Plan contains 324 projects that are priorities for allocation of the resources of its offices during the plan year which runs from July 2013 through June 2014.

National Housing & Rehabilitation Association (NH&RA) announced today it will honor Vincent F. O’Donnell, who recently retired as Vice President Affordable Housing Programs at the Local Initiatives Support Corporation, and Jack Manning, co-founder, president and CEO of Boston Capital Corporation, with its 2013 Affordable Housing Vision Awards for career achievement at a ceremony on the evening of November 13 at the Langham Hotel in Boston.

The Texas Department of Housing and Community Affairs (TDHCA) has released the preliminary staff drafts of 2014 Qualified Allocation Plan (QAP) and key subchapters of the Uniform Multifamily Rules related to the QAP requirements. Additionally, an online forum with the discussion threads for each of the various parts of the rules is available online and TDHCA staff encourages potential members and the public to make comments on the preliminary QAP.