LIHTC
Michigan Reinstates Deadline Extension Fees
The Michigan State Housing Development Authority (MSHDA) has announced it has reinstated deadline extension fees for LIHTC applications, effective immediately.
New York Governor Approves Direct Purchas of Bonds for HFAs
New York Governor Andrew Cuomo recently signed legislation that allows New York State Housing Finance Agencies (HFAs) including the New York City Housing Development Corporation (HDC) and the New York State Housing Finance Agency (HFA) to issue unrated bonds for private placement in order to finance affordable housing developments.
Ohio Releases Appraisal Guidelines for Public Comment
The Ohio Housing Finance Agency (OHFA) has released its 2012 Draft Appraisal Guidelines for projects that are seeking housing credits or gap financing resources, and has opened a public comment period.
HUD Announces DDAs for 2012
HUD has published a notice that designates Difficult Development Areas (DDA) for purposes of the Low-Income Housing Tax Credit. HUD makes new DDA and Qualified Census Tract (QCT) designations annually.
New LISC Fund to Support Affordable Multifamily Housing
The Local Initiatives Support Corporation (LISC) has leveraged a $5 million grant from the federal Capital Magnet Fund and a $19 million loan from Morgan Stanley to launch the Neighborhood Revitalization Loan Fund.
Arizona Releases Draft 2012 QAP
The Arizona Department of Housing (ADOH) has released the draft 2012 Qualified Allocation Plan for public review and comment.
South Carolina Releases Draft 2012 QAP
The South Carolina State Housing Finance and Development Authority (SC State Housing) released its draft 2012 Qualified Allocation Plan (QAP) and proposed 2012 Low-Income Housing Tax Credit (LIHTC) Manual.
New Mexico Releases Final 2012 QAP
The New Mexico Mortgage Finance Authority released the final Qualified Allocation Plan (QAP) for 2012. The agency will host a 2012 QAP and LIHTC application training on November 17, 2011 from 8:30 am to 12:30 pm. Registration is required and space is limited to 70 people. The 2012 tax credit application round deadline has been set for 5:00 pm on January 31, 2012
Virginia Releases Final 2012 QAP
The Virginia Housing Development Authority (VHDA) released the final Qualified Allocation Plan (QAP) for 2012. VHDA Board of Commissioners approved the document on October 12, 2011. The reservation application and market study deadline is scheduled for 2:00 pm on March 16, 2012.
IRS Suspends LIHTC Requirements for New York Storm Victims
The Internal Revenue Service (IRS) has issued Notice 2011-87 to announce the temporary suspension of certain requirements for low-income housing tax credit projects in order to provide emergency housing relief to individuals affected by Hurricane Irene and/or Tropical Storm Lee in New York.
IRS Sets State Tax Credit Ceilings for 2012
In Revenue Procedure 2011-52, the Internal Revenue Service (IRS) set the inflation-adjusted State credit ceiling for the low-income housing tax credit (LIHTC) program and private activity bond caps for calendar year 2012.
IRS Offers LIHTC Relief to Pennsylvania Storm Victims
The Internal Revenue Service (IRS) issued Notice 2011-83 to grant certain low-income housing tax credit (LIHTC) properties relief from certain requirements to provide emergency housing relief needed as a result of the devastation caused by Hurricane Irene or Tropical Storm Lee in Pennsylvania.