Michigan

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

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”).

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.

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.

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).

The Michigan State Housing Development Authority (MSHDA) announced the submission deadline for its first round of competitive funding for 2013 Low Income Housing Tax Credits as August 15, 2012 at 5:00 p.m.

The Michigan State Housing Development Authority (MSHDA) has released its draft 2013 Qualified Allocation Plan (QAP) for the distribution of Low-Income Housing Tax Credits (LIHTCs).

HUD’s Economic and Market Analysis Division regularly publishes Comprehensive Housing Market Analysis reports for regions across the country.

NH&RA is pleased to announce that eight member firms have been selected to participate in the Federal Housing Administration’s (FHA) Multifamily Low-Income Housing Tax Credit Pilot program.

The Federal Housing Administration (FHA) has announced it is planning to launch the first phase of its Multifamily Low-Income Housing Tax Credit Pilot program, which will test an accelerated approval process for the purchase or refinancing of LIHTC properties.

The IRS recently issued Notice 2012-18 to clarify rules relating to compliance monitoring and physical inspection requirements under the Rental Policy Working Group’s (RPWG) Physical Inspections Pilot Program. This program hopes to achieve a more coordinated effort for conducting physical inspections at properties that benefit from multiple sources of Federal funding with different inspection protocol

More than six years after HUD assumed control in 2005, Assistant Secretary Sandra Henriquez announced that the Detroit Housing Commission (DHC) would be returned to local control.

As part of the process to rewrite the 2013 Qualified Allocation Plan (QAP), the Michigan State Housing Development Authority (MSHDA) is soliciting alternative language ideas for any portion of the QAP from stakeholders.