Utah

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

The Utah Housing Coalition is hosting a webinar on October 5 from 11 a.m. to noon MT entitled, “Utility Costs Are Going Up, Up and Up, What Can Be Done About It?”

The Utah Housing Coalition is hosting a webinar at 11 a.m. MT on August 4 to hear from legal practitioners about the implementation of a new law that allows Utah’s renters to expunge evictions from their records.

Join the Utah Housing Coalition on June 1 from 11 a.m. to noon MT for a webinar featuring Christine Gianchetta Nguyen, Medicaid state-level housing coordinator at the Utah Department of Health and Human Services.

HUD’s Multifamily West Region is extending the audited financial reporting deadlines until September 30, 2020. This waiver is limited to entities, which are required to submit the referenced annual financial information on or before June 30, 2020.

HUD’s Office of Multifamily West Region issued a memo that nullifies the requirement to review the status of residents reporting zero or nominal (less than $100.00) income every 90 days.

Red Stone Tax-Exempt Funding (Red Stone) successfully structured and closed three tax-exempt and taxable bond transactions totaling $85.27 million via its Red Stone Direct investment platform.  These investments will provide debt financing for the new construction of affordable rental communities in California, Texas, and Utah. 

Evelyn Lim joined the HUD Region Eight team, which covers Colorado, Utah, Wyoming, Montana and North and South Dakota. Prior to her appointment at HUD, she served as the Deputy Chief of Staff for Operations at the Department of Homeland Security (DHS).

A new note from Peter Lawrence with Novogradac and Co. analyses state use of the private activity bonds (PABs). In 2017, eleven states reported no multifamily PAB issuance, up from ten in 2016 and down from the high of 30 in 2011.

Both houses of the Utah Legislature recently passed legislation to expand the state’s Low-Income Housing Tax Credit program and to establish a new supplemental funding source dedicated to serving extremely low income households.

The Internal Revenue Service divided $2.59 million in unused Low Income Housing Tax Credits from calendar year 2015 among 30 states.

Utah Housing Corporation released a letter announcing the 2016 professional input meeting.

On September 29, California Governor Jerry Brown vetoed A.B. 1399, a bill to create a state new markets tax credit (NMTC), and A.B. 1999, to create a state historic rehabilitation tax credit (HTC).