LIHTC

HUD

HUD Designates 2022 DDAs, QCTs

HUD designated Difficult Development Areas and Qualified Census Tracts for 2022.

Member News

WNC Closes Three Funds, Raises $255 Million

WNC Inc. announced it has closed three institutional LIHTC funds totaling approximately $255 million in equity.

Federal Housing Finance Agency

Fannie, Freddie Each Increase LIHTC Investment by $350 Million; FHA Risk-Share Programs Resume

Last week, the White House released a sweeping set of actions the Biden-Harris administration is taking to increase the supply of affordable housing.

IRS

IRS Extends Virtual Public Hearing Option for Tax-Exempt Bonds Through March 31, 2022

The Internal Revenue Service (IRS) issued Rev. Proc. 2021-39, which extends the ability of bond issuers to conduct hearings virtually through March 31, 2022 due to COVID-19.

HUD

NLIHC, PAHRC Update National Housing Preservation Database

The National Low Income Housing Coalition (NLIHC) and Public and Affordable Housing Research Corporation (PAHRC) updated its National Housing Preservation Database with new data for properties assisted by Section 8 Project-Based Rental Assistance, LIHTCs, Public Housing, HUD-insured mortgages, Section 202 Direct Loans, Section 515 mortgages, Section 538 Guaranteed Loans, fair market rent and Real Estate Assessment Center scores.

congress-capitol

111 Representatives Sign Dear Colleague Letter Supporting the Inclusion of Affordable Housing in Reconciliation

A Dear Colleague letter, led by Reps. Suzan DelBene (D-WA) and Don Beyer (D-VA), asking Speaker of the House Nancy Pelosi (D-CA) and House Minority Leader Kevin McCarthy (R-CA) to include LIHTC provision in the partisan reconciliation package was signed by 111 representatives.

Washington

Court Dismisses Case Against Washington State Housing Finance Commission

Last week, the U.S. District Court for the Western District of Washington dismissed a case filed against the Washington State Housing Finance Commission (Commission) from Alden Torch Financial via AMTAX Holdings.

congress-capitol

Senator Wyden to Introduce DASH Act

Senate Finance Committee Chairman Ron Wyden (D-OR) has released the text of his soon to be introduced Decent, Affordable, Safe Housing for All (DASH) Act (full text, overall summary, section by section summary).

NH&RA News

RAD and Its Current and Projected Consumption of LIHTCs

In a new CityScape article, Alex Schwartz of the New School and Kirk McClure of the University of Kansas explore how the RAD program can “consume” LIHTCs.

QAP Kentucky

Applications for Kentucky’s Nine Percent LIHTC Due Aug. 19

The Universal Funding Application (UFA) for the 2022 nine percent LIHTC funding round is currently available with applications due by noon ET on August 19.

QAP Wisconsin

Wisconsin Innovation Housing LIHTC Set-Aside

The Wisconsin Housing and Economic Development Authority (WHEDA) is encouraging developers with innovative affordable housing projects designed to spark community revitalization and promote resident well-being to apply for nine percent LIHTCs through the innovation housing set-aside between now and September 3.

Member News

Hunt Closes $6.4 Million LIHTC, $2.4 Million in HTCs in Louisiana

Hunt Capital Partners announced it has closed $6.4 million in Low Income Housing Tax Credit equity and $2.4 million in state and federal Historic Tax Credit equity for the construction of 48 multifamily housing units in a new building plus 18 additional units in the adaptive reuse of a historic building in Monroe, LA, which dates back to 1929.

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