News

Connecticut’s General Assembly expanded two of the state’s historic rehabilitation tax credits, the Historic Structures Rehabilitation Tax Credit and the Historic Preservation Tax Credit.

Reps. Jim Costa (D-CA), Dennis Cardoza (D-CA), and Jeff Denham (R-CA) recently introduced a bill that would treat certain population census tracts for which information is not available as low-income communities for purposes of the new markets tax credit (NMTC).

The Community Development Financial Institutions (CDFI) Fund announced that it received a total of 314 applications under the 2011 round of the New Markets Tax Credit (NMTC) program, the largest number of NMTC applications received since 2002 and an increase of 26 percent over the number of applications received in last year’s competition.

The Tennessee Housing Development Council has released a list of preliminary changes proposed for the 2012 qualified allocation plan.

HUD’s Office of Policy Development and Research has issued two important reports on the nation’s rental housing markets: Rental Market Dynamics: 2007″“2009 and Components of Inventory Change: 2007″“2009.

The Wisconsin Housing and Economic Development Authority (WHEDA) created a special round of 2011 LIHTC allocations specifically designated for developing affordable housing in Marinette, Wis.

NH&RA Member and Council for Energy Friendly Affordable Housing Steering Committee member Recap Real Estate Advisors has issued a new study on behalf of Living Cities titled “Multifamily Utility Usage Data: Issues and Opportunities.”

LISC has named Tina Brooks, Massachusetts’ undersecretary for housing and community development, as its new EVP for programs.

The IRS has issued a new notice (Notice 2011-63) that provides supplemental guidance on the determination of when State and local bonds are considered “issued” for purposes of volume cap limitations on private activity bonds and other bond volume caps and limitations under Federal law.

The House Financial Services Capital Markets and Government Sponsored Enterprises Subcommittee approved five bills designed to constrain Fannie Mae and Freddie Mac and hasten their departure from the mortgage market.

Reps. Ron Kind (D-WI), Spencer Bachus (R-AL), Richard Neal (D-MA), and Terri Sewell (D-AK), and Sens. John Kerry (D-MA), and Scott Brown (R-MA), yesterday introduced H.R. 2718 and S. 1456, respectively.

HUD has announced the addition of a preservation web page to the Multifamily website.