LIHTC

The California Tax Credit Allocation Committee (CTCAC) has issued a new memorandum a new scheduled Committee meeting date (June 22) to announce awards, and provides additional clarifying guidance for prospective second round applicants.

The Oregon Legislature has introduce a measure, HB 2527, that would extend the extend the sunset on the Oregon Affordable Housing Tax Credit.

Nevada’s Housing Division recently announced that it will host an upcoming workshop entitled, “Affordable Housing Preservation: Preserving LIHTC Projects in Nevada on June 9 in Las Vegas.

The Washington State Housing Finance Commission (WSHFC) recently posted the preliminary policy and program development time-line for its FY-2012 low-income housing tax credit program.

The Michigan State Housing Development Authority has posted its Draft 2012 Qualified Allocation Plan and related documents to its web site. MSHDA will hold three Public Hearings on May 31, 2011 to take comments on the Draft 2012 Qualified Allocation Plan.

The Massachusetts Department of Housing and Community Development (DHCD) has released the final version of its 2011 qualified allocation plan.

The Louisiana Housing Finance Agency (LHFA) has released a red-lined and clean versions of its 2011-2012 qualified allocation plan (QAP) on its website.

Kansas Development Finance Authority (KDFA) President Tim Shallenburger has named Garden City native Dennis L. Mesa as Executive Director of Kansas Housing Resources Corporation (KHRC). KHRC, a subsidiary corporation of KDFA, is a self-supporting, public corporation which serves as the primary administrator of federal housing programs on behalf of the State of Kansas.

The Wisconsin Housing and Economic Development Authority has announced that it will host a series of workshops to provide guidance and training on the 2011 housing tax credit program.

Indiana Housing and Community Development Authority is seeking comments on its draft 2012-2013 Qualified Allocation Plan (QAP).

The Wisconsin Housing and Economic Development Authority (WHEDA) has issued a notice to explain 2011 LIHTC credit pricing levels and the basis boost for recently funded applicants.

The Affordable Housing Investors Council recently published revised underwriting guidelines for or low-income housing tax credit investments. Notably the Market Study section of the guidelines strongly endorse NH&RA’s National Council of Affordable Housing Market Analysts recommending:
“A third party market study completed less than 6 months before the investor closes into the partnership should be used in the analysis of rental rates, absorption rates and demand assumptions.