General News

The Iowa Finance Authority (IFA) has released its Qualified Allocation Plan (QAP) and supporting LIHTC program documents for the 2012 tax credit program.

The Tuesday, February 14 Federal Register included a notice that HUD is creating the Capture Energy Efficiency Measures for PIH (CEEMP) data system to track the amount and types of Energy Conservation Measures being implemented within Public and Indian units.

Ohio Housing Finance Agency has updated its Environmental Review Standards for multifamily projects receiving federal HOME funds in Fiscal Years 2012 and 2013.

The IRS recently issued Notice 2012-18 to clarify rules relating to compliance monitoring and physical inspection requirements under the Rental Policy Working Group’s (RPWG) Physical Inspections Pilot Program. This program hopes to achieve a more coordinated effort for conducting physical inspections at properties that benefit from multiple sources of Federal funding with different inspection protocol

The Center for American Progress has issued a new report titled “Rehab-to-Rent Can Help Hard-Hit Communities and Our Economy: What to Consider When Converting Vacant Foreclosed Homes into Affordable, Energy Efficient Rentals.”

In a preview of the Administration’s FY-2013 Budget (to be released on February 13), the Obama Administration has announced as part of its “Plan to Help Responsible Homeowners and Heal the Housing Market” that his budget will call for $1 billion to capitalize the federal rental housing trust fund.

California’s Tax Credit Allocation Committee yesterday released two regulation changes proposed for Committee consideration. CTCAC staff will conduct a public hearing on February 22 in Sacramento, CA.

House Ways and Means Committee Ranking Member Sander Levin (D-Mich) has indicated that he will reintroduce legislation to tax carried interest compensation at the same ordinary income tax rates.

As of February 1, 2012, California’s redevelopment agencies were permanently disbanded under the direction of Assembly Bill 1X26. However, California’s State Assembly last week introduced A.B. 1585, a proposal that preserves redevelopment agencies’ unencumbered Low/Mod-Income Housing funds, which local communities use to fund affordable housing development.

On Tuesday, February 7, the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity approved the Affordable Housing and Self-Sufficiency Improvement Act (AHISSA) (currently unnumbered) by a voice vote. AHISSA is the most recent iteration of the Section Eight Savings Act (SESA) and the Section Eight Voucher Reform Act (SEVRA).

The Federal Housing Finance Agency (FHFA) recently announced the first step of a Real-Estate Owned (REO) Initiative targeted to hardest-hit metropolitan areas, which was originally announced in August 2011. This initiative will allow eligible investors to purchase pools of foreclosed properties under the stipulation that the purchased properties must be rented for a specified number of years.

The Disaster Housing Assistance Program Ike (DHAP- Ike) recently expired with 3,500 households still enrolled in the program. To provide additional time for families to transition, HUD recently announced that it would provide $28 million to convert eligible families that were displaced by Hurricanes Ike and Gustav in 2008 to the Housing Choice Voucher (HCV) program.