News
IRS Issues Notice on Treatment of Exchange Funds
The Internal Revenue Service has issued a new notice (2010-18) that provides guidance in several aspects regarding the proper treatment of Section 1602 low-income housing tax credit (LIHTC) credit exchange funds.
Virginia Announces Update to LIHTC Application
The Virginia Housing Development Authority (VHDA) has issued a third update to its 2010 low-income housing tax credit reservation process.
Tennessee Releases Attachments to LIHTC Applications
The Tennessee Housing Development Agency (THDA) has released three additional attachments to its 2010 low-income housing tax credit program’s initial application.
Illinois Agency Announces New Preservation Initiative
Illinois Housing Development Authority (IHDA) Executive Director Gloria L. Materre, recently announced the launch of a new statewide initiative to preserve affordable rental homes in Illinois.
California Posts LIHTC Question and Answers
The California Tax Credit Allocation Committee (TCAC) has posted the questions and answers from its recent 2010 Application Workshop training in Sacramento, Los Angeles, San Diego and Oakland in late February.
Agencies Adopt CRA Questions and Answers
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision recently adopted the final set of Interagency Questions and Answers Regarding Community Reinvestment.
Treasury Updates Renewable Energy Tax Credit Guidance
The U.S. Treasury Department recently updated its program guidance for the Section 1603 renewable energy tax credit cash grant exchange program.
House Committee Holds Hearing on CDFIs
Last week, the House Committee on Financial Services held a hearing on “Community Development Financial Institutions (CDFIs): Their Unique Role and Challenges Serving Lower-Income, Under-served and Minority Communities.”
NH&RA Announces Finalists for 2009 Historic Rehabilitation Awards
The National Housing & Rehabilitation Association has announced twenty-three finalists in eight categories for the 2009 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation.
Treasury Secretary Indicates No Overhaul of GSEs this Year; Rep. Frank Still Plans To Proceed
Treasury Secretary Timothy Geithner has indicated that the White House has no plan to overhaul Fannie Mae and Freddie Mac in 2010.
HUD Secretary Testifies Before Appropriations Subcommittee
HUD Secretary Shaun Donovan testified before the House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies on February 23, 2010 on President Obama’s proposed budget.
NCAHMA Announces Spring Forum Speaker List
The National Council of Affordable Housing Market Analysts (NCAHMA) has released a list of confirmed speakers for its 2010 Spring Underwriting Forum, April 7-8, 2010 at the Intercontinental Hotel in New Orleans.