News
New York Governor Signs Rehab Tax Credit Legislation
New York Governor David Paterson has signed into law new legislation that amends the state’s historic rehabilitation tax credit program to make it easier for banks and insurance companies to utilize the program.
CDFI Fund Seeks Comments on New Markets Allocation Application
The Community Development Financial Institutions Fund is seeking comments on the electronic application used to apply for an allocation of federal new markets tax credits.
“A Real Estate Developer’s Guide to Carried Interest Legislation”
The law firm Goulston & Storrs LLP recently issued an advisory entitled “A Real Estate Developer’s Guide to Carried Interest Legislation.”
Urban Institute Publishes Paper On Housing Choice and Mobility
The Urban Institute, a non-partisan research think-tank, has published a new paper entitled “Why Housing Choice and Mobility Matter.”
Ohio Launches State New Markets Tax Credit Program
Governor Ted Strickland and Department of Development Director Lisa Patt-McDaniel recently announced the launch of the Ohio New Markets Tax Credit program.
FHA Issues Final Regulations On Escrowing Tax Credit Equity
HUD’s Federal Housing Administration has issued regulations for its multifamily mortgage insurance program relating to a provision in Title VIII of the Housing and Economic Recovery Act of 2008 that prohibits a requirement that tax credit sales proceeds be placed into escrow, at the time of initial endorsement, for assurance of project completion and to pay the initial service charge, carrying charges, and legal and organizational expenses incident to the construction of the project.
Utah Releases 2011 Draft Qualified Allocation Plan
The Utah Housing Corporation has released its 2011 draft qualified allocation plan (QAP).
HUD Releases Preview of U.S. Housing Market Conditions for Second Quarter 2010
The U.S. Department of Housing and Urban Development has released a preview of its U.S. Housing Market Conditions report for the second quarter of 2010.
New Publication on Smart Growth and Rural Communities
The International City/County Management Association has issued a new publication, Putting Smart Growth to Work in Rural Communities .
HUD Issues LIHTC Mortgagee Letter & Notice
HUD has issued a new mortgagee letter (2010-26) and Housing Notice (2010-16) to all FHA-Approved Multifamily Mortgagees issuing further policy guidance to defer submission of final architectural plans and specifications introduced by Mortgagee Letter 2008-19, 19), titled “Streamlined Processing of Multifamily Mortgage Insurance Applications Involving Low Income Housing Tax Credits (LIHTC).”
Indiana Releases 2011 QAP
The Indiana Housing & Community Development Authority has released its 2011 qualified allocation plan.
Maryland Releases Draft 2011 Multifamily Rental Program Guide
The Maryland Department of Housing and Community Development (DHCD) has begun the process of revising the 2011 qualified allocation plan (QAP), and has released its draft 2011 Multifamily Rental Financing Program Guide. Proposed revisions to the 2011 QAP will be released by the end of August.