Connecticut

HUD recently announced that the agency will provide a second round of recovery funds to five states and New York City affected by last year’s Hurricane Sandy through the Community Development Block Grant (CDBG) program. These recovery funds are to be used to assist impacted communities to meet remaining housing, economic development and infrastructure needs.

Multifamily housing developers, community organizations, investors, and lenders interested in affordable rental housing in New England have a new resource available that provides a comprehensive overview of current opportunities. A special report entitled “A Variety of Approaches: New England State Agencies Differ in Needs, Priorities in Their Housing Credit Programs” reviews recent and current tax credit allocation activity, project trends, and state priorities in the New England states ““Connecticut, New Hampshire, Maine, Massachusetts, Rhode Island, and Vermont.

The Internal Revenue Service (IRS) recently published Revenue Procedure 2013-31, which details the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers allocated for calendar year 2013.

The Connecticut Housing Finance Authority for an Overview Session for the 2013 competitive 9% Low-Income Housing Tax Credit round on September 16, 2013 from 9:00 am to 11:00 am.

The National Housing Conference and California Housing Partnership have published a new guide titled “Veterans Permanent Supportive Housing: Policy and Practice”.

A bipartisan coalition of U.S. lawmakers recently introduced the Hurricane Sandy Tax Relief Act of 2013 (H.R.2137) to provide tax relief for victims of Hurricane Sandy in areas designated as federal disaster areas by the president.

The Connecticut Housing Finance Authority Board of Directors approved the draft 2013 Qualified Allocation Plan (QAP).

The National Housing & Rehabilitation Association, in association with the National Trust Community Investment Corporation, honored developers, architects and historic preservation professionals that brought new life to ten historic buildings through its awarding of the 2012 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation.

A special Connecticut legislative session in June 2012 established a new state Department of Housing (DOH) as the lead agency for all matters related to housing and the Interagency Council on Affordable Housing to advise and assist in the planning and implementation of the new DOH.

The Internal Revenue Service (IRS) has announced that government entity issuers of tax-exempt bonds affected by Hurricane Sandy may qualify for additional time to file Form 8038 or Form 8038-T returns.

HUD has released information about resources and tools available to assist partners in dealing with the damage caused by Hurricane Sandy at HUD-assisted properties.

Due to the widespread devastation caused by Hurricane Sandy, the President has declared that major disasters exist in Connecticut, New York and New Jersey. In a press release on November 5, the Internal Revenue Service (IRS) announced that the agency will waive certain low-income housing tax credit (LIHTC) rules in order to allow owners of low-income housing to provide temporary shelter to victims of Hurricane Sandy who do not qualify as low-income.