News

In April of this year, the California Tax Credit Allocation Committee (TCAC) announced it would conduct a single competitive funding round for 9% and 4%-plus-state credit applications. In order to accommodate applicants who had planned to apply for second round consideration, TCAC regulations were adopted allowing applicants to provide specified information by August 17, 2009.

Thanks to everyone that made the 2009 Summer Institute a great success! We were blown away by all of the compliments about the quality of the program and networking. I especially want to thank all the great speakers! Its not every day that so many industry leaders and innovators can come together to share ideas and innovations. In such a tough business environment it was inspirational to see how our members are creating new opportunities to close transactions. If you didn’t make out to Vermont here are a few things that you missed…

On-Site Insight, the capital planning subsidiary of CAS Financial Services has begun field inspections of the nation’s 1.3 billion-unit public housing portfolio to provide Congress and HUD a quantitative cost estimate for addressing public housing’s multi-billion-dollar capital backlog.

The U.S. Treasury Department recently announced over $90 million in funding awards to five states through the Section 1602 Exchange Program created by the American Recovery and Reinvestment Act (ARRA).

U.S. Housing and Urban Development Secretary Shaun Donovan recently announced that HUD will approve the final round of funding applications submitted by state housing finance agencies for funds provided by the Tax Credit Assistance Program (TCAP), through the American Recovery and Reinvestment Act (ARRA).

Tax Credit Advisor ““ August 2009 ““ These new kinds of taxable bonds, authorized by the American Recovery and Reinvestment Act of 2009, are designed to assist issuers and developers unable to sell tax-exempt bonds to finance new public-purpose projects.

The U.S. Treasury Department recently announced that it is accepting applications for the Section 1603 program, provided by the American Recovery and Reinvestment Act (ARRA).

Governor David Paterson today (7/29) signed into law legislation that improves the New York State Historic Rehabilitation Tax Credit program.

Governor David A. Paterson signed into law new legislation that will extend affordable housing for another 30 years to the tenants of the Starrett City housing complex in Brooklyn, the nations largest publicly assisted affordable housing complex.

The U.S. Treasury Department is now accepting applications for cash grants in lieu of investment tax credits for qualifying renewable energy equipment and facilities.

Tax Credit Advisor ““ August 2009 ““ Built on a former U.S. Navy housing site, this new low-income housing tax credit development in Long Beach, Calf. called Family Commons at Cabrillo, provides affordable apartments and access to a range of supportive services to formerly homeless individuals and families, with special attention given to disabled war veterans.

U.S. Housing and Urban Development Secretary Shaun Donovan has named Barbara Sard his Senior Advisor for Rental Assistance.