Thom Amdur Author Archives

David Carr has joined the CSG team as Vice President, Investor Relations to further develop and manage the growing tax credit equity investor base. In addition, CSG welcomed Edward “Skip” Santos as Senior Vice President to focus on originating HUD-FHA multifamily and other CSG loan products.

MassHousing’s long-time Executive Director, Thomas R. Gleason, announced that he would retire effective December 31, 2016. The Board voted to name Timothy C. Sullivan, currently MassHousing’s Deputy Director for Finance and Rental Programs as Gleason’s successor.

Freddie Mac became the nation’s leader in multifamily lending for the first time, with $47.3 billion in loan purchase and bond guarantee volume for its Multifamily business in 2015, up from $28.3 billion the previous year.

TCAC intends to allow applicants in the first round of 2016 to claim DDA status if the project is located in an area that will be considered a DDA after June 30, 2016, provided that the carryover allocation occurs after June 30. For 9% tax credit applications located in areas that will lose DDA status on June 30, 2016, the TCAC regulations grandfather in DDA status for these projects for one year.

With the increase in the credit rate from the floating rate of 7.51% (January 2016) to 9%, WHEDA will be reducing the maximum basis boost that may be requested in a competitive LIHTC application.

The Texas Department of Housing and Community Affairs has posted to its website a list of Frequently Asked Questions (“FAQ”) posed by Applicants for Competitive (9%) Housing Tax Credits.

An estimated $2,185,789 of Competitive Housing Credits and an estimated $1,100,000 in grant funding will be made available through this RFA.

The public hearing will take place on Thursday, January 14.

OHCS will accept comments on the 2016 Draft Qualified Allocation Plan from January 11 through February 10, 2016. A Public Hearing on the 2016 Plan will be held on Tuesday, February 2, 2016 from 2:00 p.m. to 4:30 p.m.

Recipients of 2015 Housing Tax Credit allocations will utilize the 2015 DDA or 2015 QCT designations or the state designations listed in 2015 Basis Boost Policy in the 2015 QAP. Applicants seeking 2016 Housing Tax Credits will utilize the 2016 DDA and QCT designations. 4% Housing Tax Credit applicants whose bonds are issued and building is placed in service on or after July 1, 2016 will utilize the 2016 DDA and QCT designations.

All applicants must submit Initial Application items to AHFA beginning Wednesday, February 10, 2016 at 9:00 a.m. CST and ending Thursday, February 11, 2016, at 5:00 p.m. CST. Final Applications for the Housing Credits and HOME Investment Partnerships Program funds will be accepted beginning Wednesday, March 9, 2016 at 9:00 a.m. CST and ending at 5:00 p.m. CST on Thursday, March 10, 2016.

The Connecticut Housing Finance Authority sent out a reminder that Housing Tax Credit Contribution Applications are due February 1, 2016. All applications must be submitted through SharePoint no later than 4:00pm that day.