Maryland

The Maryland Department of Housing and Community Development (MDHCD) is accepting comments on proposed guidelines for the new Rental Housing Works (RHW) program. RHW is funded at $17.5 million for FY 2013.

Representative Chris Gibson (R-NY) recently introduced the Irene and Lee Tax Relief Strom Recovery Act, H.R. 3769, which would increase the amount of Low-Income Housing Tax Credits (LIHTCs) to be allocated in states damaged by Hurricane Irene or Tropical Storm Lee in 2011.

Maryland’s Governor Martin O’Malley, in partnership with the Maryland Department of Housing and Community Development (DHCD), recently announced a new $15 million rental housing initiative, “Rental Housing Works”, that will provide funding for up to 20 affordable housing projects in the State of Maryland.

NH&RA member firm, Gallagher Evelius & Jones LLP, has drafted an excellent summary of notable 2011 affordable housing policy changes for the Maryland Affordable Housing Coalition. The memo summarizes a number of federal and local policy changes impacting the Low-Income Housing Tax Credit (LIHTC), compliance issues, the New Markets Tax Credit (NMTC), New Issue Bond Program (NIBP) as well as Maryland specific programs. The entire text of the memorandum is provided below.

Maryland’s Public Service Commission (PSC) has ordered the Department of Housing and Community Development (DHCD) to become the sole provider of weatherization and energy retrofitting programs for low income households throughout the state.

The Internal Revenue Service (IRS) published Revenue Service 2011-57 which dictates the amounts of unused housing credit carryover allowances allocated to qualified states. Nearly $3.66 million of unused credits were divided among the states in the National Pool.

The Maryland Department of Housing & Community Development recently released Multifamily Housing Notice 11-07 which provides an update on the Spring 2011 funding round, and reminds potential applicants about the Round 2 deadline.

Maryland’s Department of Housing & Community Development (DHCD) recently issued Multifamily Housing Notice 11-06 which makes several announcements and reminders for multifamily developers.

Maryland Department of Housing and Community Development (DHCD) Secretary Raymond A. Skinner announced today the department’s Be SMART (Save Money and Resources Today) initiative, which is primarily a loan program to finance energy efficiency improvements to homes, businesses and multifamily buildings in more than a dozen targeted communities around the state. The $20 million in funding comes from the BetterBuildings program of the U.S. Department of Energy.

The Maryland Department of Planning (MDP) is holding eight open houses around the state for the public to find out the soon-to-be released PlanMaryland draft. Attendees will be given the opportunity to learn about the draft plan and talk to state officials about what PlanMaryland means for our future.

Maryland’s Department of Housing & Community Development has issued a new Multifamily Housing Notice (10-10) to its developers, sponsors and housing contacts pertaining to the Fall 2010 Competitive Funding Round.

Tax Credit Advisor – November 2010 – Nancy Rase, president of Homes for America, Inc., thrives on the demands of being an affordable housing developer.