News
HUD Announces Final Small Area Demonstration FMRs
HUD has published its Final Fair Market Rents for the Housing Choice Voucher Program for Small Area Fair Market Rent Demonstration Program Participants for FY-2013. Effective Date: The FMRs published in this notice are effective on October 1, 2012.
Massachusetts Governor Announces Major Housing Initiative
On November 13 Massachusetts Governor Deval Patrick outlined a bold new plan to produce 10,000 new multifamily housing units a year through 2020.
Lancaster Pollard Publishes Article Re: Refinancing Section 202 Properties
NH&RA Member firm Lancaster Pollard recently published an article “HUD Updates: Refinancing 202 Properties” which details the recent changes HUD has made to the Section 202 program.
Georgia Releases Draft 2013 QAP
The Georgia Department of Community Affairs (DCA) Office of Affordable Housing (OAH) has released a draft version of its 2013 Qualified Allocation Plan (QAP), as well as draft appendices for its threshold criteria and competitive scoring criteria.
Arizona Releases Final 2013 QAP
The Arizona Department of Housing (ADOH) has published its final 2013 Qualified Allocation Plan (QAP) for the allocation of federal Low Income Housing Tax Credits (LIHTCs).
New York State HCR Extends Deadline for Unified Funding Applications
Due to Hurricane Sandy, New York State’s Home & Community Renewal (HCR) has announced that it will extend its deadline for Unified Funding applications from November 29, 2012 to January 8, 2013.
ACORE Releases Study on Renewable Energy Progress in U.S.
American Council on Renewable Energy (ACORE) recently released a report entitled Renewable Energy in the 50 States which provides an executive summary on the status of renewable energy implementation at the state-level.
New Resources Released on Installation of Solar Panels at Historic Properties
The National Park Service (NPS) and Department of Energy (DOE) have released separate guidance on installing solar panels at historic properties in a way that meets the standards of the Department of Interior.
NYU Study Sheds Light on Tenant Incomes in LIHTC Properties
The Furman Center for Real Estate and Urban Policy at New York University (NYU), has released the preliminary results of its analysis of the incomes, rent burdens, and economic diversity of tenants residing in LIHTC developments.
IRS Suspends Certain LIHTC Requirements for Areas Affected by Hurricane Sandy
Due to the widespread devastation caused by Hurricane Sandy, the President has declared that major disasters exist in Connecticut, New York and New Jersey. In a press release on November 5, the Internal Revenue Service (IRS) announced that the agency will waive certain low-income housing tax credit (LIHTC) rules in order to allow owners of low-income housing to provide temporary shelter to victims of Hurricane Sandy who do not qualify as low-income.
NMTC Applicants Affected by Hurricane May Request QEI Issuance Extension
The Community Development Financial Institutions (CDFI) Fund has announced it will consider extending the October 31 qualified equity investment (QEI) issuance deadline for new markets tax credit (NMTC) applicants that have been directly affected by Hurricane Sandy.
HUD Issues Memo On Closing Mixed-Finance Transactions
HUD released a new memo on October 26, 2012 pertaining to the due dates for closing mixed-finance transactions.