News

The U.S. Department of Housing and Urban Development recently issued a notice soliciting comment from State housing credit agencies on reporting and record-keeping requirements of the Tax Credit Assistance Program (TCAP).

U.S. Treasury Secretary Timothy Geithner will be joined by Community Development Financial Institutions (CDFI) Fund Director Donna Gambrell to announce the 2009 New Markets Tax Credits (NMTC) Program awards on Friday, October 30 in Chicago.

NH&RA’s HOPE VI Council brings together the most active developers and advisers in this sector to help address ongoing issues with the capitalization and operation of HOPE VI and mixed-finance developments across the country. In recent months, the Council has focused its efforts on the proposed Choice Neighborhoods Initiative (CNI).

NH&RA’s NMTC Council’s Steering Committee responded to the Community Development Financial Institution (CDFI) Fund’s request for comments on its allocation application for the federal New Markets Tax Credit Program, in preparation for the 2010 funding round. The Council’s letter focused primarily on issues pertaining to Related Party Equity Investments.

The National Housing & Rehabilitation Association (NH&RA) will present its 2009 Vision Award to two Bostonians for outstanding accomplishments and leadership in the field of affordable housing, at a November 2 ceremony in Boston during the NH&RA Fall Developers Forum.

CEFAH has been working with Representative Mary Jo Kilroy (D-Ohio) and are pleased to report that she is well along in drafting “CEFAH legislation”. The draft legislation addresses a good portion of our legislative agenda (as laid out in our white paper from earlier this year)

NH&RA’s Historic Preservation Development Council is working to extend expiring Tax Incentives for historic rehabilitation projects in the Gulf Opportunity Zone in Louisiana, Mississippi and Alabama. These benefits are currently due to expire at the end of 2009. As a result of our efforts we expect legislation to be introduced shortly that will be co-sponsored by Congressman Artur Davis (D-Ala.) and Congressman Charles Boustany (R-La.).

The Wisconsin Housing and Economic Development Authority has announced two significant changes with regards to the administration of the Tax Credit Assistance Program (TCAP) and the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act.

The Utah Housing Corporation recently made available its draft 2010 qualified allocation plan (QAP) for administering the low-income housing tax credit (LIHTC) program.

The Nebraska Investment Finance Authority (NIFA) has released its 2010 low-income housing tax credit program application package, including the 2010 qualified allocation plan (QAP).

The Kentucky Housing Corporation has released the final, approved version of its qualified allocation plan for the 2010 low-income housing tax credit (LIHTC) program. KHC will make approximately $9 million available through its 2010 program.

The Georgia Department of Community Affairs (DCA) has scheduled a series of three public hearings to provide an opportunity for public comment on proposed changes to the 2010 qualified allocation plan (QAP).