News
Affordable Housing Debt Update
While tax credit equity remains the biggest industry concern, debt financing is also elusive for many developers. 2010 promises to be a challenging year–originations are down, underwriting standards are only becoming stricter and, with then end of the TCAP program and declining state budgets, gap financing will become even more difficult to obtain. NH&RA can help!
Arizona Seeking Comments For 2010 QAP
Arizona is seeking comments on its 2010 QAP. Included in the QAP package are ADOH’s Market Study Guidelines.
FHFA Authorizes CDFIs to Become FHLB Members
The Federal Housing Finance Agency (FHFA) today issued a final rule that authorizes non-federally insured community development financial institutions (CDFIs) that have been certified by the CDFI Fund, including community development loan funds, venture capital funds, and State-chartered credit unions, to become members of a Federal Home Loan Bank (FHLB).
HUD Releases Updated New Consolidated Planning/CHAS Data
The U.S. Department of Housing and Urban Development (HUD) has released an update of the Comprehensive Housing Affordability Strategy (CHAS) data.
Vermont Publishes 2010 Vermont Housing Needs Assessment
Vermont Housing Finance Agency for the Vermont Department of Economic, Housing and Community Development have published its 2010 Vermont Housing Needs Assessment.
Virginia Publishes Updated LIHTC Reference Materials
Virginia Housing Development Authority has published updated 2010 LIHTC reference documents including its 2010 Low-Income Housing Tax Credit Manual as well as market study requirements.
Kentucky Publishes 2010 Revised Qualified Action Plan and Rental Guidelines
Kentucky Housing Corporation has released a revised 2010 Qualified Action Plan (QAP) and Rental Guidelines are now available for review and public comment.
North Dakota Approves 2010 QAP
The North Dakota Industrial Commission has approved the 2010 Low Income Housing Tax Credit Qualified Allocation Plan (QAP).
HUD Publishes Quarterly Regulatory Waivers
HUD has published its quarterly report of all of its approved regulatory waivers.
New York Housing Commissioner Resigns
Deborah VanAmerongen, commissioner of the New York State Division of Housing and Community Renewal, is resigning effective Jan. 15, 2010. VanAmerongen has served at the agency’s top post since 2007 and was a frequent speaker at NH&RA events. VanAmerongen will join the law firm Nixon Peabody LLP as an advisor.
CDFI Fund Releases Failed NMTC Applicant Materials
The Community Development Financial Institutions (CDFI) Fund recently released debriefing materials for Community Development Entities (CDEs) that applied for but did not receive an allocation of New Markets Tax Credits (NMTC) during the most recent funding round.
Iowa Governor Announces Key Housing Appointments, Repositions HOME Program
Governor Chet Culver recently announced Bret Mills as his choice for the new Director of Iowa’s Department of Economic Development (DED).