LIHTC

NH&RA pleased to announce we will be returning to the Taj Hotel (formerly the Ritz-Carlton) for our Annual Boston Fall Developers Forum November 2-3, 2009. This is a can’t miss event for developers and affordable housing professionals looking to get the latest updates on state-of-the-art transactions and breaking news from the Congress, HUD and HFAs.
Online registration is now open and the hotel is taking reservations at our group rate. Click here to register online.

The Law Firm Nixon Peabody LLP recently issued an Affordable Housing Alert on a recent HUD Mortgagee Letter. The letter implements changes to facilitate using Low-Income Housing Tax Credits with FHA loans.

The California Tax Credit Allocation Committee will hold a public hearing on September 17 in Sacramento.

The California Tax Credit Allocation Committee has issued a notice entitled, “Tax Credit Assistance Program (TCAP) Environmental Requirements & Guidance.”

South Carolina State Housing Finance & Development Authority will hold its 2009 Tax Credit Developer Roundtable Meeting on September 23, 2009 in Columbia.

Michigan State Housing Development Authority staff and Michigan Housing Council representatives will hold a webinar style conference call September 10th from 3:00 pm to 5:00 pm. Callers will be able to listen to a live discussion around several aspects of the Authority’s implementation of the various Recovery Act funded programs.

The IRS has issued Revenue Procedure 2009-40, which specifies the amount of additional low-income housing tax credits allocated to qualifying states from the 2009 National Pool. These are prior-year housing credits that went unused by other states, and boost the 2009 housing credit ceiling of recipient states. The states allocated additional credits and the amount received by each are:

The U.S. Department of Housing and Urban Development (HUD) has delayed once more, until September 30, 2009, the effective date of a final rule entitled, Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs.

In a key development, the U.S. Treasury Department has modifies original deadline for disbursement of low-income housing tax credit exchange program (Section 1602) funds by state housing credit agencies to assisted projects. The law requires that state agencies return to Treasury any funds they receive that are not used to make subawards before January 1, 2011.

The South Carolina State Housing Finance and Development Authority recently amended its Low-Income Housing Tax Credit Assistance Program (TCAP) Implementation Plan in order to help move awardees and applicants toward construction.

The Connecticut Housing Finance Agency (CHFA) has released its draft 2010 qualified allocation plan (QAP) and is accepting comments from the public by September 21.

The Internal Revenue Service (IRS) recently released a notice inviting public comments on Form 8586, Low-Income Housing Tax Credit.