News

Alabama

Alabama Credit Application Package Now Available

The Alabama Housing Finance Authority has announced the availability on its Web site of the 2009 application package, including instructions and supporting attachments, for the authority’s new funding round for low-income housing tax credits and federal HOME funds.

NH&RA News

Harvard Report Outlines Multifamily Challenges

Harvard University’s Joint Center for Housing Studies has published a new report on the nation’s multifamily housing finance system and the role of the federal government, HUD, FHA, and the government-sponsored enterprises in the system.

HUD

HUD Announces Planned Loan Sale

The U.S. Department of Housing and Urban Development has announced its intention to sell certain unsubsidized multifamily and healthcare mortgage loans, without Federal Housing Administration (FHA) insurance, in a competitive, sealed bid sale.

Maryland

Maryland Governor to Propose Changes to State Historic Tax Credit

In his newly released proposed FY 2010 state budget, Maryland Gov. Martin O’Malley (D) has said he plans to submit legislation that would revise and enhance the state’s Heritage Tax Credit Program, which provides a state tax credit for the rehabilitation and renovation of historically and culturally significant properties, preserving Maryland’s architectural heritage.

Texas

HUD Publishes Market Reports on Abilene and Beaumont-Port Arthur, Texas

The U.S. Department of Housing and Urban Development has published comprehensive housing market analyses for the Abilene, Texas and Beaumont-Port Arthur, Texas areas.

New Jersey

New Jersey QAP Incorporates NCAHMA Guidelines

The New Jersey Housing and Mortgage Finance Agency will now require analysts conducting market studies for proposed LIHTC projects in New Jersey to certify that “he or she is a certified member of the National Council of Affordable Housing Market Analysts.”

congress-capitol

Chairman Frank Proposes $10 Billion for Stalled LIHTC Projects

In an interview reported by the Boston Globe, U.S. Representative Barney Frank indicated he wants the government to spend $10 billion on stalled low-income housing tax credit projects unable to secure equity.

congress-capitol

Confirmation Hearing Held for HUD Nominee

The U.S. Senate Banking Committee held a confirmation hearing for Shaun Donovan, President-elect Barack Obama’s choice for Secretary of the U.S. Department of Housing and Urban Development.

NH&RA News

Senate Finance Committee Draft Economic Stimulus Bill Contains Tax Credit Provisions

The U.S. Senate Finance Committee on January 23 released a draft of its own version of the tax component of the economic stimulus bill (the “Chairman’s Mark”) that the committee is scheduled to mark up on January 27. The House Appropriations and Ways and Means Committees have already marked up and approved the spending and tax portions of the House version of the stimulus bill (American Recovery and Reinvestment Act of 2009). The full House could vote on the package next week.

congress-capitol

House Appropriations Committee Amends, Adopts Economic Recovery Package

After adopting several amendments, the House Appropriations Committee approved HR 352 on a vote of 35-22. The measure is scheduled to be marked-up by two additional committees before being voted on by the full House of Representatives.

HUD

Donovan Confirmed as New HUD Secretary

haun Donovan was confirmed by the U.S. Senate on January 22 as the new Secretary of the U.S. Department of Housing and Urban Development.

New Jersey

New Jersey Proposes Revised 2009 QAP

The New Jersey Housing and Mortgage Finance Agency has issued its draft 2009 qualified allocation plan (QAP) and market study guidelines for its low-income housing tax credit program.

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