Federal / Agency News

Leaders of the Senate Finance Committee, Max Baucus (D-MT) and Chuck Grassley (R-IA) yesterday sent a letter to Senate Majority Leader Harry Reid (D-NV) and Minority Leader Mitch McConnell (R-KY) with regards to expiring tax assistance provisions not included in the House-passed extenders legislation.

U.S. Senator Dianne Feinstein (D-CA) recently introduced a measure to help stimulate and resume development of renewable energy facilities, such as wind farms and solar panel factories.

Massachusetts Gov. Deval Patrick has signed legislation that establishes a new chapter regarding publicly assisted affordable housing, which includes a wide variety of federally and state assisted rental housing projects, including Section 8, federal and state low-income housing tax credits, Section 221(d)(4), and others.

HUD’s Office of Policy Development and Research recently announced the launch of its new HUD USER website, which features new tools and layout that will make it easier to locate information and resources.

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…

he 2009 HUD Secretary’s Award for Excellence in Historic Preservation was recently presented to Gorman & Company Inc. for their outstanding achievement in renovating Fairbanks Flats.

The 2009 HUD Secretary’s Award for Excellence in Historic Preservation was recently presented to Gorman & Company Inc. for their outstanding achievement in renovating Fairbanks Flats.

On behalf of Enterprise Community Partners, Inc. and Local Initiatives Support Corporation (LISC), the accounting firm Ernst & Young (E&Y) has conducted a major survey entitled “Low-Income Housing Tax Credit Investment Survey” to provide an understanding of the current market environment for the LIHTC as well as investor motivations and investor responses to potential legislative enhancements to the LIHTC Program.

National Council of Affordable Housing Market Analysts (NCAHMA) has made available the PowerPoint slides presented during its recent 2009 Affordable Housing Underwriting Forum & Annual Meeting, held November 9-10, 2009 at the Doubletree Hotel Magnificent Mile in Chicago, IL.

NH&RA’s Historic Preservation Development Council is working to extend expiring Tax Incentives for historic rehabilitation projects in the Gulf Opportunity Zone in Louisiana, Mississippi and Alabama. These benefits are currently due to expire at the end of 2009. As a result of our efforts we expect legislation to be introduced shortly that will be co-sponsored by Congressman Artur Davis (D-Ala.) and Congressman Charles Boustany (R-La.).

Senators Blanche Lincoln (D-AR) and Olympia Snowe (R-ME), along with Reps. Allyson Schwartz (D-PA) and Pat Tiberi (R-OH) have introduced legislation that would make a number of legislative changes to the federal historic rehabilitation tax credit.

A new AARP report co-authored by the National Housing Trust and Reconnecting America has found that more than 250,000 privately-owned, federally subsidized apartments exist within walking distance to quality transit in 20 metro areas.