General News

The Community Development Financial Institution (CDFI) Fund announced its plans to update program eligibility criteria for the New Markets Tax Credit (NMTC) Program to reflect new data from the 2006-2012 American Community Survey (ACS).

The Acting Director of the Federal Housing Finance Agency (FHFA), Edward J. DeMarco, recently sent a memo to members of Congress outlining a strategic plan for the next phase of the conservatorships for the Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac.

HUD has released a Notice of Funding Availability (NOFA) for $5,000,000 in FY 2012 Choice Neighborhoods Initiative (CNI) Planning Grants.

The Kentucky Housing Corporation (KHC) has issued guidance to housing partners regarding housing issues and increased needs as a result of the recent storms that affected the state. More specifically, KHC is informing multifamily project owners that most damage-related replacement costs are eligible for reimbursement from Reserve for Replacement (R4R) accounts.

Reps. Patrick Tiberi (R-OH) and Richard Neal (D-MA) recently sent a letter to members of Congress urging their support of H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9% low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act.

HUD is revising the Actual Modernization Cost Certificate (AMCC) contained within the Public Housing Capital Fund Program, and is soliciting comments from the public regarding proposed changes to the program.

HUD’s Office of Policy Research & Development has released its U.S. Housing Market Conditions Report for the 4th Quarter of 2011. The report is a compilation of statistical data and written reports. Tabular data indicate market conditions on the national level and are presented for each quarter.

The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina.

In response to a growing number of requests to modify the restrictive covenants of housing credit apartment communities, the Ohio Housing Finance Agency (OHFA) recently established Restrictive Covenant Modification Guidelines for the review of modification requests.

The Wisconsin Housing and Economic Development Authority (WHEDA) will host four tax credit workshops that will cover the basics of the program, compliance requirements and WHEDA’s monitoring procedures.

The Federal Housing Finance Agency (FHFA) recently announced the next step in its Real Estate-Owned (REO) Initiative, targeted to hardest-hit metropolitan areas “” Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix and parts of Florida.

NH&RA is pleased to offer the PowerPoint Presentations from our recent 2011 Annual Meeting & New Markets Tax Credit Symposium, which was held February 22-26 at the Breakers Resort in Palm Beach, Fla. In addition, we have included additional conference materials, relevant articles, reports, memos, etc. under the relevant session titles.