News
White House Names Urban Affairs Director
President Obama has named Bronx Borough President Adolfo Carrión Jr. to direct the new White House Office of Urban Affairs. He will be the Administration’s point person to coordinate urban policy areas, including urban development, education, health care, and public safety.
Illinois Soliciting Applications for LIHTCs for Disaster Counties
The Illinois Housing Development Authority is soliciting applications for roughly $9.7 million in low-income housing tax credits for projects available only for projects in 18 designated disaster counties within the state. Applications must be submitted on April 6.
Ohio Issue Draft 2009 Guidelines for Loan Program
The Ohio Housing Finance Agency (OHFA) has released draft guidelines for 2009 for its Housing Development Loan Program.
Ohio Agency Amends Gap Financing Guidelines for LIHTC Projects
The Ohio Housing Finance Agency has announced newly approved amendments to the gap financing guidelines under its Housing Development Assistance Program (HDAP).
New York Releases New Regional Housing Needs Studies
The New York State Division of Housing and Community Renewal has released three new studies reporting on current housing needs in three regions. The studies are on the Mohawk Region, Central Region, and Tier Region.
Pennsylvania Issues Statement on Adjustments, Waivers to 2009 QAP
The Pennsylvania Housing Finance Agency (PHFA) is taking steps to assist in providing maximum flexibility and responsiveness to developers seeking 2009 low-income housing tax credits.
ACHP Meeting Will Provide Update on Implementation of Preserve America Summit Recommendations
The Advisory Council on Historic Preservation (ACHP) will hold a meeting on February 20 in Washington, DC to provide an update on Preserve America Program Summit Implementation and on transition activities.
South Carolina Issues LIHTC Bulletin; Raises Cap for Amount of LIHTC Owner Can Receive Across Multiple Projects
The South Carolina State Housing Finance & Development Authority has issued a Low Income Housing Tax Credit Program Bulletin to updates its 2009 LIHTC Manual.
NH&RA’s Green Agenda Incorporated Into Recovery Act
NH&RA’s Council for Energy Friendly Affordable Housing is pleased to report that several key provisions from its ‘green’ legislative agenda have been incorporated in HR1: The American Recovery and Reinvestment Act of 2009. This includes substantial funding dedicated to retrofitting HUD assisted multifamily projects.
TCA October 2008 Issue Theme: Historic Rehabilitation
Tax Credit Advisor
October 2008
Issue Theme: Historic Rehabilitation
House of Representatives Passes Economic Stimulus Bill; No New LIHTC Amendments
The US House of Representatives has passed HR 1, its $819 billion economic stimulus bill on a vote of 244-188. The House adopted several amendments prior to passing the measure that clarify how funds dedicated to transportation can be spent and strengthening whistleblower protections. The US Senate is scheduled to consider its measure, which is considerably different, in the next few days.
NH&RA’s New Markets Tax Credit Committee Urges Congress to Include NMTCs in Stimulus Compromise
NH&RA’s New Markets Tax Credit Council sent a letter to key congressional leaders urging them to support the New Markets Tax Credit Provisions in the Senate Version of HR: 1The The American Recovery and Reinvestment Act of 2009. The letter addresses expanding NMTC Authority in 2008 and 2009, Alternative Minimum Tax Relief and the carry back of business tax credits.