Michigan
IRS Sets State Credit Ceilings for 2014
The Internal Revenue Service (IRS) announced in Revenue Procedure 2013-35 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2014.
UPDATE: 2014-2015 Michigan QAP: Public Hearing Comments
Michigan State Housing Development Agency (MSHDA) posted comments from the October 25, 2013 Public Hearing on their website.
IRS Announces 2013 Carryover Allocations Totaling $2.46 Million
The Internal Revenue Service (IRS) recently published Revenue Procedure 2013-31, which details the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers allocated for calendar year 2013.
Proposed: Michigan Updated Gap Financing Program
The Michigan State Housing Development Authority (MSHDA) has released an updated draft of the MSHDA Gap Financing Program. MSHDA is currently accepting comments on the draft and there will be a presentation at the MSHDA Board meeting on September 25, 2013. The intention of program update is to address concerns of the competitive nature of the program.
Updated Scoring Criteria for Michigan QAP
The Michigan State Housing Department Authority (MSHDA) has posted an updated version of the Scoring Criteria for the Low Income Housing Tax Credit (LIHTC) program to its website. MSHDA made this necessary update to modify the Cost Containment criteria to reflect new data that is now available following the completion of awards of 9% LIHTC from the 2013 allocation year. MSHDA also announced that the first competitive funding round for 2014 Low Income Housing Tax Credit will have an application submission deadline on August 15, 2013 at 5:00 P.M. EST.
NHC and CHP Publish Veterans Housing Guide
The National Housing Conference and California Housing Partnership have published a new guide titled “Veterans Permanent Supportive Housing: Policy and Practice”.
MSHDA Provides Applicants Opportunity to Withdraw from Recent LIHTC Funding Round
The Michigan State Housing Development Authority (MSHDA) is providing applicants the opportunity to withdraw from the February 15, 2013 LIHTC funding round application without penalty.
Application for MSHDA’s Gap Financing Program is due by March 1, 2013
The Michigan State Housing Development Authority (MSHDA) has announced that the application and Preliminary or Reduced Scope Market Study is due by March 1, 2013.
Michigan Releases Draft NOFA for 2012 “MHCD” Fund
The Michigan State Housing Development Authority released a draft version of its Notice of Funding Availability (NOFA) for the 2012 Michigan Housing and Community Development Fund (the “MHCD Fund”).
IRS Sets State Tax Credit Ceilings for 2013
The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013.
IRS Publishes Unused Housing Credit Carryover Amounts
The Internal Revenue Service (IRS) recently published Revenue Procedure 2012-42, which indicates the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers for 2012. These carryovers, which amounts to nearly $2.43 million in unused credits, have been allocated to 34 states.
Michigan Issues Memo on the Expiration of the 9% Credit Rate & August 2012 Round Credit Availability
In advance of their August 15, 2012 LIHTC application deadline, the Michigan State Housing Development Authority issued a memo to ensure that stakeholders are aware of the change in the credit rate available mandated by the Housing and Economic Recovery Act of 2008 (HERA).