On February 1, the White House unveiled a proposed federal budget for Fiscal Year 2011 that calls for overall funding cuts at numerous federal agencies, including at the U.S. Department of Housing and Urban Development (HUD). Fiscal Year 2011 begins October 1st.
The House of Representatives has passed tax extenders legislation (HR 4213) on a vote of 241-181. The measure now awaits consideration in the U.S. Senate. Key provisions include…
A recent tax court ruling finds that state historic tax credit investors are partners and that transactions between investors and the partnership are not disguised sales.
The U.S. Department of Housing and Urban Development (HUD) has released an update of the Comprehensive Housing Affordability Strategy (CHAS) data.
Last night (November 18), Representative Bill Pascrell (D-NJ) introduced legislation that would increase the carryback period for low-income housing tax credits (LIHTCs). Representative Pascrell is a member of the majority party in the House and sits on the House Ways & Means Committee. The measure would implement the following changes…
The New York State Division of Housing & Community Renewal (DHCR) held a conference call with DHCR-approved market analysts to solicit questions and feedback with regards to its market study process and requirements for the 2010 low-income housing tax credit (LIHTC) funding round.
Members of the National Council of Affordable Housing Market Analysts’ (NCAHMA) Standards, Membership and Education Committees convened for in-depth, face-to-face discussions in conjunction with the Council’s 2009 Affordable Housing Underwriting Forum & Annual Meeting on November 10 in Chicago.
Representative Mary Jo Kilroy (D-OH) will introduce legislation (HR 4099) this week to facilitate retrofitting of HUD assisted properties. NH&RA’s Council For Energy Friendly Affordable Housing (CEFAH) has been working with Representative Kilroy, a junior member of the majority on the House Financial Services Committee, to draft this important bill.
Members of NCAHMA’s Education Committee convened for an in-person meeting on November 10, 2009 at the Doubletree Hotel Magnificent Mile in Chicago. The meeting was held in conjunction with the 2009 Affordable Housing Underwriting Forum & Annual Meeting.
The New Mexico Mortgage Finance Authority has released a Request for Proposals (RFP) to identify and select qualified individuals to produce affordable multifamily rental real estate market analyses for proposed tax credit projects. The market studies will be used as one means of assessing proposed projects for allocation of low-income housing tax credits (LIHTC).
NH&RA recently surveyed our membership to find out more about their experiences to date with the TCAP and Exchange programs. As of October 15, respondents to our survey are working on or have closed more than 100 transactions involving nearly 7,500 units of affordable housing. These projects range dramatically in size from 20 to 200+ units with an average size of 66 units. Nearly 80 percent of our respondent’s transactions are new construction. There are several themes, trends and issues that are worth highlighting…
David Kirk, principal and founder of Kirk & Co., recently published an article in the New England Real Estate Journal entitled “The Greater Boston Housing Report Card for 2009.”