LIHTC
Texas Announces Six-Month Extension to PIS Deadline for 2019 Nine Percent LIHTC Developments
The Texas Department of Housing and Community Affairs is notifying owners and agents of all 2019 nine percent LIHTC developments that, under the authority provided by Revenue Procedure 2014-49 and due to the major disaster declaration resulting from the COVID-19 pandemic, the deadline to place in service each building has been extended by six months, going from Dec. 31, 2021, to June 30, 2022.
Connecticut Webinar on LIHTC Compliance Monitoring – Nov. 10
The Connecticut Housing Finance Authority and Spectrum are hosting a webinar on LIHTC compliance.
Texas Offers $49 Million in Direct Loan NOFA
The Texas Department of Housing and Community Affairs (TDHCA) posted a second amendment to the 2021-3 Multifamily Direct Loan Annual NOFA.
House Committees Mark Up Reconciliation Bills with Major Housing Investments
The House Financial Services Committee completed their work on Tuesday and sent their portion of the bill to the House floor with a 30-24 party-line vote. The committee voted down all of the amendments offered by Republicans.
HUD Designates 2022 DDAs, QCTs
HUD designated Difficult Development Areas and Qualified Census Tracts for 2022.
WNC Closes Three Funds, Raises $255 Million
WNC Inc. announced it has closed three institutional LIHTC funds totaling approximately $255 million in equity.
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 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.
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.
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.
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.
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).