News

Freddie Mac has announced it financed $24 billion in multifamily whole loan and bond guarantee business in 2008, a more than 10 percent increase over its 2007 volume.

The Affordable Housing Tax Credit Coalition (AHTCC) is accepting entries for the 15th Annual Charles L. Edson Tax Credit Excellence Awards competition.

Global Green USA has completed its 4th annual analysis and ranking this year after looking at the 2008 Qualified Allocation Plans (QAPs) for all 50 states.

Fannie Mae announced that the company, through its lender and housing partners, financed $35.5 billion in multifamily rental housing in 2008.

The California Tax Credit Allocation Committee has issued a notice that defines 2009 threshold basis limits for 9% and 4% tax credit applications.

The U.S. Senate voted to adopt on SA 161 on February 4. Offered by Senator Kit Bond (R-MO) this amendment to the HR1: The American Recovery and Reinvestment Act of 2009 would provide $2,000,000,000 in gap funding for LIHTC projects to be available through September 30, 2011. There are several amendments still waiting to be considered that could impact the LIHTC Program.

The Wisconsin Housing and Economic Development Authority has issued a memo to provide clarification regarding the policies and requirements it will employ in its 2009 competitive low-income housing tax credit funding rounds. These clarifications address what WHEDA will do with applications that meet or fail to meet the threshold criteria, what it will do with applications that meet the threshold criteria but don’t receive an allocation, which unsuccessful applicants can re-apply in the future, and other areas.

Tax Credit Advisor June, 2006: A total of $4.1 billion in federal New Markets Tax Credits have been awarded in an unusual allocation round that combined $3.5 billion in regular NMTCs and $600 million in tax credits designated for areas hard-hit by Hurricane Katrina.

The U.S. Department of Housing and Urban Development’s Office of Housing has posted the draft of a new notice spelling out procedures for the delegation to state and local housing agencies of processing of new Section 202 elderly supportive housing projects.

The Community Development Financial Institutions (CDFI) Fund has issued a new informational alert pertaining to the 2009 allocation funding round for the federal new markets tax credit (NMTC) program. The deadline to apply for an allocation is April 8, 2009.

The U.S. Department of Housing and Urban Development (HUD) on December 22 issued a proposed rule to govern the sale of HUD-held single family homes and mortgage assets in designated revitalization areas .

The U.S. Senate Finance Committee on January 27 by 14-9 approved the tax component of the economic stimulus bill, after adopting a number of amendments to the original “Chairman’s mark.” The approved package proposes approximately $522 billion in tax cuts and tax incentives including many intended to save or create jobs and bolster the national economy.