General News
IRS Issues PLR Relating to Form 8038 Submittals
The Internal Revenue Service (IRS) recently issued Private Letter Ruling (PLR) 201232006 to allow a multifamily housing bond issuer to file an amended Form 8038 (Information Return for Tax-Exempt Private Activity Bond Issues) for a development where a filing error resulted in the issuer entering the wrong minimum set-aside requirements.
Bill Amending LIHTC “Student Rule” Introduced in Senate
Senator Al Franken (D-MN) recently introduced the “Housing for Homeless Students Act of 2012″ (S 3494) which would amend certain aspects of the Internal Revenue Code of 1986 as it relates to students.
Massachusetts to Host Developers Information Session on CBH & FCF Programs
The Massachusetts Department of Housing and Community Development, along with its sister agencies, will be hosting an information session for developers on using the Community Based Housing (CBH) and Facilities Consolidation Fund (FCF) programs for the development of independent, integrated units in affordable housing developments.
UPDATE: Texas to Host 2013 Multifamily Rules/QAP Workgroups & Discussion Forum
The Texas Department of Housing and Community Affairs (TDHCA) will be hosting a series of workgroups and an online discussion forum to discuss proposed changes to the 2013 Uniform Multifamily Rules and Qualified Allocation Plan.
Minnesota Opens Public Review of 2013 Affordable Housing Plan Draft
The Minnesota Housing Finance Agency will co-host a webinar with Minnesota Housing Partnership to review the draft of its 2013 Affordable Housing Plan on August 21, 2012
Virginia Releases 2013 QAP Proposal for Public Comment
The Virginia Housing Development Authority (VHDA) has released its proposal for the 2013 Qualified Allocation Plan (QAP). In a memo, VHDA summarized the proposed changes, indicating changes to applicant qualifications and scoring allocations. These changes include:
Maryland Releases Schedule of Revisions for QAP and Guide for CY 2013
The Maryland Department of Housing and Community Development (MDHCD) has released a proposed schedule for the revision of Maryland’s Qualified Allocation Plan (QAP) and Guide for CY 2013.
Arizona Schedules Two Focus Group Sessions on 2013 QAP
The Arizona Department of Housing (ADOH) has scheduled two focus group sessions to collect comments and feedback on the first draft of the 2013 Qualified Allocation Plan (QAP). They will be held at the follow dates and locations:
UPDATE: HUD Announces FY 2013 Mortgage Insurance Premiums for FHA Multifamily Loans
HUD released a notice to announce changes to the mortgage insurance premiums (MIPs) for certain Federal Housing Administration (FHA) Multifamily Housing, Health Care Facilities, and Hospital Mortgage Insurance programs for commitments to be issued or reissued in FY 2013.
Michigan Issues Memo on the Expiration of the 9% Credit Rate & August 2012 Round Credit Availability
In advance of their August 15, 2012 LIHTC application deadline, the Michigan State Housing Development Authority issued a memo to ensure that stakeholders are aware of the change in the credit rate available mandated by the Housing and Economic Recovery Act of 2008 (HERA).
UPDATE: Montana to Host QAP Work Session with the Board
The Montana Board of Housing has scheduled a public work session with the Board for August 16th, 2012 at 8:30a.m. at the Red Lion Colonial Hotel in Helena, MT.
Oregon Announces Multi-Family Housing Awards
Oregon Housing & Community Services approved its 2012 Consolidated Funding Cycle (CFC) awards for multi-family housing during their July State Housing Council meeting. The state awarded more than $36 million in grants and tax credits to projects in 21 Oregon communities.