News
Senate Passes Wall Street Reform and Consumer Protection Act, Awaits President’s Signature
Last week, the Senate passed the Frank-Dodd Wall Street Reform and Consumer Protection Act (H.R. 4173) by a 60-30 vote. The bill is expected to be signed by President Obama this week.
Delaware Extends Historic Tax Credit Program
Delaware Governor Jack Markell earlier this week signed into law Senate Bill No. 209, which authorizes a ten year extension of the state’s Historic Preservation Tax Credit program.
Senate Committee Approves USDA FY 2011 Appropriations Bill
On July 15, the Senate Appropriations Committee approved a USDA appropriations bill for FY 2011 that would increase funds for Section 502 direct and guaranteed loans.
Gilmore Kean Continues Leadership of HANO
The U.S. Department of Housing and Urban Development (HUD) recently announced that the current receivership team, Gilmore Kean, LLC will continue to lead the Housing Authority of New Orleans (HANO) from recovery to revitalization over the next three years.
Polis Calls on FHFA Director to Resolve PACE Issues
Congressman Jared Polis (D-CO) recently wrote a letter to Acting Director of the Federal Housing Finance Agency (FHFA) Edward DeMarco demand insisting that he work cooperatively with stakeholders and communities toward resolving issues under the Property Assessed Clean Energy (PACE) bond programs.
Colorado HFA Names New Director of Commercial Lending
Colorado Housing and Finance Authority (CHFA) has promoted Steve Johnson to director of commercial lending. In his new role, Steve will lead CHFA’s multifamily lending, Low Income Housing Tax Credit (LIHTC) allocation, and small business lending teams.
HUD Releases Guidelines for Subsidy Layering Reviews
The U.S. Department of Housing and Urban Development (HUD) recently provided guidelines that an agency must use in conducting subsidy layering reviews for newly constructed and rehabilitated structures combining other forms of government assistance, and Section 8 project-based voucher assistance.
Gulf Coast Relief Proposal Includes “˜Special’ NMTC Allocation
Senator Mary Landrieu (D-La.) recently proposed a package of tax incentives designed to create jobs and provide much needed relief to small businesses and communities along the Gulf Coast in the wake of the oil spill.
IRS Solicits Public Comment on Final LIHTC Regulations
The Internal Revenue Service (IRS) has invited comments from the public on existing regulations concerning the Low-Income Housing Tax Credit (LIHTC) program.
FHA Announces Updated Standards for Multifamily Lenders
Federal Housing Administration’s (FHA) Commissioner David Stevens recently announced plans to implement a series of changes to the multifamily insurance programs that will update underwriting policies, increase lender and underwriter quality, and align loan application, submission and approval standards.
Massachusetts Extends Historic Tax Credit
Massachusetts Governor Deval Patrick recently signed the state’s 2011 budget bill, which includes an extension of the state Historic Rehabilitation Tax Credit program until December 31, 2017.
NH&RA Legislative Leadership Council Forumlates Mission, Objectives
NH&RA’s new Legislative Leadership Council, which met and organized on May 20, has defined its mission and strategy for making NH&RA and its councils more effective policy advocacy bodies. The Council, comprised of a small group of NH&RA members, will make recommendations to the full Association for specific legislative changes.