Michigan

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.

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 Michigan State Housing Development Authority (MSHDA) has announced it has reinstated deadline extension fees for LIHTC applications, effective immediately.

Two years of hearing “no” from prospective equity providers would be enough to make most people and organizations give up on a project. But for Joe Heaphy and the Detroit nonprofit he works for, the rejections almost became a personal challenge.

Michigan Governor Rick Snyder recently made a proposal to replace the Michigan Business Tax with a flat rate corporate income tax, and, as part of the package, the proposal eliminates the state’s historic preservation tax credit.