LIHTC

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The Florida Housing Finance Corporation has scheduled a public hearing on April 8 in Tallahassee to receive comments and suggestions from interested persons relative to the methodology to be used regarding the implementation of the American Recovery and Reinvestment Act.

The Wisconsin Housing and Economic Development Authority on March 27 issued a reminder to prospective applicants for low-income housing tax credits, saying that WHEDA isn’t currently accepting applications for new LIHTC funds authorized by the American Recovery and Reinvestment Act (ARRA), and isn’t accepting applications that identify these funds as a source of financing.

The U.S. Department of Housing and Urban Development (HUD has published a notice soliciting public comments by 5/29/9 regarding a new data collection requirement under the low-income housing tax credit (LIHTC) program.

Donald E. Cardon has been named as the new Director of the Arizona Department of Housing. Prior to his appointment, Cardon served as President and CEO of Cardon Development Group, LLC, a low-income housing tax credit development firm.

The Wisconsin Housing and Economic Development Authority today waived its low-income housing tax credit (LIHTC) program’s July 2009 “start date” rule for 2008 allocations due to tight equity markets that have caused delayed closings and construction starts for many 2008 allocatees.

The Michigan State Housing Development Authority has published a draft implementation plan for the new low-income housing tax credit exchange program and gap financing program (Tax Credit Assistance Program) established by the American Recovery and Reinvestment Act (ARRA).

The California Tax Credit Allocation Committee will hold public hearings on March 24 (Los Angeles), March 25 (Sacrament) and March 26 (Oakland) to discuss proposed amendments to the Low Income Housing Tax Credit Qualified Allocation Plan.

HUD has released the estimated median family incomes (MFIs) and income limits for Fiscal Year (FY) 2009. MFIs are used as the basis for income limits in several HUD programs (including the Public Housing, Housing Choice Voucher, CDBG, and HOME programs), as well as in programs run by the Department of Agriculture, the Department of Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, and Government Sponsored Enterprises.

The Delaware State Housing Authority has issued a notice of guidance related to the housing stimulus provisions contained in HR 1: The American Recovery and Reinvestment Act.

The following is an excerpt from February 15, 2009 HUD Press Release

WASHINGTON ““ The U.S. Department of Housing and Urban Development (HUD) today allocated nearly 75 percent of its funding, or $10.1 billion, made available through the American Recovery and Reinvestment Act of 2009. The Recovery Act includes $13.61 billion for projects and programs administered by HUD, 75 percent of which was allocated to recipients today ““ only one week after President Obama signed the Act into law.

Please see the following summary of key provisions from the conference report of HR 1: The American Recovery and Reinvestment Act. The House of Representatives and Senate voted in favor of the measure and President Obama signed the measure into law Tuesday, Feb. 17.

NH&RA has made available individual PowerPoint presentations from the recent 2009 Annual Meeting & NMTC Symposium, March 11-15 in Key Largo, Florida.