News

The Montana Board of Housing (MBOH) is having a Planning Session for the 2015 QAP on August 21-22. This Planning Session allows discussion, brain-storming and collaboration between all parties involved in the development of affordable multifamily rental housing in Montana. An additional HOME program session will take place on August 20.

Minnesota Housing is developing the Consolidated Annual Performance and Evaluation Report (CAPER) for 2013. The state must submit a CAPER to HUD annually as one of the conditions of receiving federal funds. The CAPER provides information to measure the state’s progress during the past year in meeting assistance goals and priorities identified in the Consolidated Plan. The CAPER includes a summary and analysis of progress made on identified actions that state agencies have elected to undertake to affirmatively further fair housing and overcome impediments to fair housing.

Minnesota Housing is developing its annual Action Plan for 2014. The draft Action Plan will be available beginning August 13, 2013 at http://www.mnhousing.gov.

After ten years of serving as the Commissioner of the Department of Community Affairs (DCA) in Georgia, Mike Beatty is moving on to become the President and CEO of Georgia’s Great Promise Partnership, Inc., a nonprofit offering a unique workforce development opportunity for Georgia. Beatty was appointed to serve as Commissioner of DCA in June 2003 by Governor Sonny Perdue and was reappointed by Governor Nathan Deal in January 2011.

Senators Tim Johnson (D-SD), Chairman of the Senate Banking Committee, and Mike Crapo (R-ID), the Committee’s Ranking Member, released a discussion draft of the Federal Housing Administration Solvency Act of 2013, which would implement several reforms designed to improve the Federal Housing Administration (FHA) and to ensure the solvency of the Mutual Mortgage Insurance Fund.

A recent letter from Shelley R. Poticha, Senior Advisor and Director of the Office of Sustainable Housing and Communities at the U.S. Department of Housing and Urban Development (HUD), indicated that her last day at HUD was July 12 and will soon begin work at the Natural Resources Defense Council on August 5.

Governor Steve Beshear (Democrat) recently approved of the 2014 Kentucky Qualified Allocation Plan (QAP). There were a few minor revisions from the QAP drafts and Guidelines that are highlighted in yellow on the final version, including certain appraiser standards if Housing Credit exeeds $250,000. The total amount of Housing Credit expected to be available to Kentucky for 2014 is estimated to be approximately $9,500,000.

HUD recently released Notice 2013-17 to update and consolidate previous guidance on the prepayment of Section 202 Direct Loan projects. The Notice touches on guidance for HUD approval and processing of the prepayment of old (1959-1974) and new (1974-1990) Section 202 projects and supersedes guidance from previous Notices 2002-16, 2004-21, 2010-14, 2012-08.

The Internal Revenue Service (IRS) recently issued Notice 2013-40 and 2013-39 to suspend certain low-income housing tax credit (LIHTC) and tax exempt facility bond rules in order to allow owners of low-income housing to provide temporary shelter to non-low-income victims of the May 2013 Oklahoma tornadoes.

HUD recently published a proposed rule in the Federal Register which would amend current regulations covering the contract rights and obligations of mortgagees participating in Federal Housing Administration’s (FHA) multifamily mortgage insurance programs, to address reimbursement to FHA of excess claim proceeds.

The 2014 proposed Iowa Qualified Allocation Plan (QAP) has been posted on the Iowa Finance Authority website and is open for public comments until August 27, 2013 at 4:30PM CST

The Delaware State Housing Authority (DSHA) announced the authorization of the Neighborhood Assistance Act (NAA) FY 2014. The NAA Program encourages businesses and individuals who pay Delaware state income taxes to invest in programs serving impoverished neighborhoods or serving low- and moderate-income families. In exchange for a qualified contribution, the NAA provides state tax credits equal to 50% of the investment. There is a maximum of $500,000 in tax credits available and DSHA will resume accepting NAA applications on a first-come, first-served basis.