General News

The Massachusetts Department of Housing and Community Development (DHCD) has posted a Draft 2012 Consolidated Annual Action Plan which dictates the funding objectives of DHCD for the Community Development Block Grant (CDBG), HOME, Emergency Shelter Grants (ESG), and Housing Opportunities for Persons with AIDs (HOPWA) programs.

Last night’s State of the Union address offered some interesting new insight into the President’s policy priorities for the upcoming year. I was surprised that the President emphasized tax reform so early and often. While President Obama did not cite the low income housing tax credit, historic tax credit or new markets tax credit directly there was a strong emphasis on providing tax relief for businesses that create domestic jobs.

The Federal Housing Administration (FHA) has announced it is planning to launch the first phase of its Multifamily Low-Income Housing Tax Credit Pilot program, which will test an accelerated approval process for the purchase or refinancing of LIHTC properties.

The Obama Administration released its FY 2013 budget on February 13, 2012, proposing spending levels for federal departments, agencies, and programs for the fiscal year that begins October 1, 2012. Click here for background on the federal budget process.

The Pew Center on the States recently released a report entitled “Evidence Counts: Evaluating State Tax Incentives for Jobs and Growth” that found that while every state offers tax incentives to attract, retain, and expand businesses and jobs, no state ensures that policy makers rely on good evidence about whether these investments deliver a strong return.

The Washington State Housing Finance Commission (WSHFC) has released the state’s FY 2013 workshop schedule which includes tax credit compliance courses for advanced and beginner participants and a bond compliance course.

HUD’s Economic and Market Analysis Division has released Comprehensive Housing Market Analyses for College Station-Bryan, TX; Columbia, SC; Lancaster, PA; Manchester-Nashua, NH.

HUD published a notice in the Federal Register to announce the inflation factors that will be used to adjust FY 2012 Renewal Funding for the Tenant-Based Rental Assistance voucher program or Housing Choice Voucher (HCV) program.

The Ohio Housing Finance Agency (OHFA) has released a revised Utility Allowance Policies and Procedures document to include an energy consumption model.

The Arizona Department of Housing (ADOH) has issued a reminder to 2012 LIHTC applicants that certain materials must be submitted no later than May 1, 2012 at 4:00 pm.

The Texas Department of Housing and Community Affairs (TDHCA) has posted the following documents related to the 2012 Competitive Housing Tax Credit Program funding round.

A new report released by the Government Accountability Office (GAO) indicates that several factors including rising rents, declining household incomes, and decisions to expand the number of assisted households were key drivers of the approximately 29 percent increase (before inflation) in housing agencies’ expenditures for the Housing Choice Voucher (HCV) program between 2003 and 2010.