News
HUD Solicits Comments on Public Housing Capital Fund
HUD is revising the Actual Modernization Cost Certificate (AMCC) contained within the Public Housing Capital Fund Program, and is soliciting comments from the public regarding proposed changes to the program.
HUD Releases U.S. Housing Market Conditions for Q4 2011
HUD’s Office of Policy Research & Development has released its U.S. Housing Market Conditions Report for the 4th Quarter of 2011. The report is a compilation of statistical data and written reports. Tabular data indicate market conditions on the national level and are presented for each quarter.
OCC Extends CRA Activities in Gulf Coast Disaster Areas
The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina.
Ohio Updates Restrictive Covenant Modification Guidelines
In response to a growing number of requests to modify the restrictive covenants of housing credit apartment communities, the Ohio Housing Finance Agency (OHFA) recently established Restrictive Covenant Modification Guidelines for the review of modification requests.
Wisconsin to Host Tax Credit Workshops
The Wisconsin Housing and Economic Development Authority (WHEDA) will host four tax credit workshops that will cover the basics of the program, compliance requirements and WHEDA’s monitoring procedures.
FHFA Announces Pilot REO Property Sales in Hardest-Hit Area
The Federal Housing Finance Agency (FHFA) recently announced the next step in its Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas “” Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.
PowerPoints, Materials from Annual Meeting Now Available
NH&RA is pleased to offer the PowerPoint Presentations from our recent 2011 Annual Meeting & New Markets Tax Credit Symposium, which was held February 22-26 at the Breakers Resort in Palm Beach, Fla. In addition, we have included additional conference materials, relevant articles, reports, memos, etc. under the relevant session titles.
NH&RA Elects New Directors
NH&RA is pleased to announce the election of following eight new directors at our 2012 Annual Meeting on February 23, 2012 at the Breakers in Palm Beach….
NPS Publishes 2011 Annual Report on Historic Credits
The National Park Service (NPS) recently published its annual report on the historic tax credit program for 2011. The report, entitled “Federal Tax Incentives for Rehabilitating Historic Buildings: Annual Report for Fiscal Year 2011,” includes information about the program’s use and performance throughout 2011.
IRS Issues Guidance on Energy Efficiency Deductions for Commercial Buildings
The Internal Revenue Service (IRS) has released Notice 2012-22 to provide updates on Notice 2008-40 and Notice 2006-52, both of which relate to guidance on deductions for energy efficient commercial buildings.
Congress Approves Payroll Tax Cut Extension Agreement
On February 17, the House of Representatives and the Senate both passed H.R. 3630, which will provide an extension of the payroll tax holiday, unemployment benefits and restored Medicare reimbursement rate provisions. Noticeably absent from the deal is an extension to the New Markets Tax Credit tax provisions, which expired in December 2011.
Virginia Releases Clarifications to 2012 LIHTC Applications
The Virginia Housing Development Authority (VHDA) has released a memo to provide clarification for potential applicants in the state’s 2012 LIHTC funding round.