LIHTC
Louisiana Releases Draft 2013 QAP
The Louisiana Housing Finance Agency (LHFA) has released a draft version of its proposed Qualified Allocation Plan (QAP) and selection criteria for the 2013 LIHTC allocation round.
Ohio Launches Study to Examine Impact of Reduced Physical Inspections
The Ohio Housing Finance Agency’s (OHFA) recently announced the launch of a collaborative study with USDA RD, HUD and The Ohio State University’s College of Public Health to examine the impact of a proposed policy change to reduce the frequency of physical inspections for affordable housing units receiving multiple funding sources.
New Hampshire Schedules Hearing on 2013 QAP
A public hearing will be held at 1:30 pm on Thursday, March 29, 2012, at the New Hampshire Housing Finance Authority (NHHFA), 32 Constitution Drive, Bedford NH, in order to receive comments on the draft 2013 Qualified Allocation Plan (QAP) for the Low Income Housing Tax Credit Program (LIHTC) and the HOME Rental Housing Production Program Rules.
Minnesota Releases Proposed Changes to 2013 QAP
The Minnesota Housing Finance Agency (MHFA) has begun its formal review and revision process for the 2013 Qualified Allocation Plan, and recently released a summary of proposed changes. MHFA’s Board will review the final QAP and procedural manual revisions at its March 22 meeting.
Montana Approves LIHTC Changes
The Montana Department of Commerce on March 8 published a Notice of Amendment on two proposed changes pertaining to the low-income housing tax credit program and allocation procedure.
Indiana and Kentucky Allowing LIHTC Owners to Provide Temporary Housing to Storm Victims
In accordance with IRS Revenue Procedure 2007-54, the Indiana Housing and Community Development Authority (IHCDA) and the Kentucky Housing Corporation (KHC) have permitted owners of Section 42 LIHTC properties to provide temporary emergency housing to individuals affected by the recent floods and tornadoes.
Georgia Releases 2012 LIHTC Application Materials
The Georgia Department of Community Affairs (DCA) Office of Affordable Housing has published the following documents for use in preparing applications in the 2012 OAH Funding Round.
NY Senate Committee Hears Two Pieces of Affordable Housing Legislation
Two pieces of affordable housing legislation, S.4758C and S.6480, were recently introduced by Senator Catharine Young in the New York State Senate.
Kentucky Provides Guidance on Housing in Areas Affected by Recent Storms
The Kentucky Housing Corporation (KHC) has issued guidance to housing partners regarding housing issues and increased needs as a result of the recent storms that affected the state. More specifically, KHC is informing multifamily project owners that most damage-related replacement costs are eligible for reimbursement from Reserve for Replacement (R4R) accounts.
Letter Urges Support of Fixed 9% Tax Credit
Reps. Patrick Tiberi (R-OH) and Richard Neal (D-MA) recently sent a letter to members of Congress urging their support of H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9% low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act.
Ohio Updates Restrictive Covenant Modification Guidelines
In response to a growing number of requests to modify the restrictive covenants of housing credit apartment communities, the Ohio Housing Finance Agency (OHFA) recently established Restrictive Covenant Modification Guidelines for the review of modification requests.
Wisconsin to Host Tax Credit Workshops
The Wisconsin Housing and Economic Development Authority (WHEDA) will host four tax credit workshops that will cover the basics of the program, compliance requirements and WHEDA’s monitoring procedures.