News
Housing Market Reports Released for Colorado Springs and Tacoma
HUD’s Economic and Market Analysis Division has published Comprehensive Housing Market Analysis reports for the Colorado Springs, CO and Tacoma, WA housing market areas.
Delaware Releases 2012 QAP
The Delaware State Housing Authority has released its 2012 Qualified Allocation Plan for administering the low-income housing tax credit allocation process, as well as a cover letter, change sheet, attachments, and a summary of public comments.
North Dakota Publishes 2012 QAP
The North Dakota Housing Finance Agency has released the final version of its housing tax credit allocation plan for 2012, as well as the funding application.
Connecticut Releases Draft 2012 QAP
At its December 2011 meeting, the Connecticut Housing Finance Authority Board of Directors approved the draft 2012 Qualified Allocation Plan (QAP) and Low-Income Housing Tax Credit (LIHTC) Procedures for public comment.
Policy Memo Summarizes Significant Tax Credit Policy Changes in 2011; Federal and Maryland Specific
NH&RA member firm, Gallagher Evelius & Jones LLP, has drafted an excellent summary of notable 2011 affordable housing policy changes for the Maryland Affordable Housing Coalition. The memo summarizes a number of federal and local policy changes impacting the Low-Income Housing Tax Credit (LIHTC), compliance issues, the New Markets Tax Credit (NMTC), New Issue Bond Program (NIBP) as well as Maryland specific programs. The entire text of the memorandum is provided below.
Arizona Releases Final 2012 QAP
The Arizona Department of Housing (ADOH) has released the final approved version of the state’s 2012 Qualified Allocation Plan (QAP) for the distribution of Low-Income Housing Tax Credits (LIHTCs).
IRS Issues Notice on Refunding Disaster Relief Bonds
The IRS issued Notice 2012-3 to provide guidance on current refunding issues for outstanding prior bond issues that qualify for tax-exempt bond financing under disaster relief bond programs including Gulf Opportunity Zone Bonds (GO Zone Bonds), qualified Midwestern disaster area bonds and Hurricane Ike disaster area bonds under the Heartland Disaster Act.
California Proposes State NMTC Program
On January 4, California Assembly Bill 643 was amended to include the creation of a California New Markets Tax Credit (NMTC) Program.
Minnesota Housing Accepting Applications for Second Round of Tax Credit Program
The Minnesota Housing Finance Agency (MHFA) is now accepting applications for Round 2 of the 2012 Housing Tax Credit program, of which approximately $500,000 in tax credits are available.
In Memoriam: Lawrence B. Simons
NH&RA was saddened to learn of the passing of former FHA Commissioner Lawrence B. Simons on December 29, 2011.
Oregon Rewrites Funding Application, Schedules Training
Oregon Housing and Community Services (OHCS) has rewritten and restructured the process documentation to help applicants navigate the Consolidated Funding Cycle process for 2012.
RPWG Releases Proposals for Housing Program Alignment
On December 31, the Rental Policy Working Group (RPWG) released its administrative proposals for the realignment of federal affordable rental housing programs. The report, called “Federal Rental Alignment Administrative Proposals” proposes ways to reduce the cost and burden of various affordable housing programs operated by the Departments of Agriculture, Housing and Urban Development (HUD), Treasury and others.