General News

The Texas Department of Housing and Community Affairs (TDHCA) has announced a meeting for the Rural Housing Workgroup. This meeting is being held in response the agency’s increased awareness of the unique challenges in serving rural populations.

The Internal Revenue Service (IRS) has released a Chief Counsel Advice (CCA) memorandum stating that the sale of certain Massachusetts state tax credits, including low-income housing and historic tax credits, to a third party by the original recipient is a taxable event.

The Texas Department of Housing and Community Affairs has announced the availability of up to $22,038,066 in funding from the HOME Investment partnerships Program for the development of affordable multifamily rental housing for low-income Texans.

The Technical Assistance Collaborative (TAC) has announced the launch of a new web site – the TAC Resource Center on Supportive Housing. The goal of the TAC Resource Center is to promote innovative supportive housing approaches and models which link affordable and accessible permanent housing resources with community-based supports and services for people with significant and long-term disabilities.

Last week, the U.S. Department of Treasury announced the extension of the New Issue Bond Program (NIBP) and Temporary Credit & Liquidity Program (TCLP). The NIBP extension notice states that Housing Finance Agencies (HFAs) may extend the deadline for release of Escrowed Proceeds and use the remainder of NIBP allocations through December 31, 2012.

Thanksgiving Week is an annual chance to slow down for a moment, put aside day-to-day crises, catch our breath and spend some introspective time considering all for which we can be thankful.

As we reflect on the past year, we are thankful to you and your companies for continuing to support our collaborative nationwide effort to improve and strengthen our industry in these difficult economic times…

The University of Minnesota has released a new report entitled, “Economic Impact of Projects Leveraged by the Minnesota Historic Rehabilitation Tax Credit.” The report analyzes the economic impact of the Minnesota Historic Rehabilitation Tax Credit, which was signed into law in April 2010.

The Community Development Financial Institutions (CDFI) Fund this week released an updated data summary on projects financed by the New Markets Tax Credit (NMTC) program through fiscal year 2010.

HUD has announced policy changes that will be implemented for the Section 8 Project-Based Rental Assistance (PBRA) program in order to achieve certain savings and slow the growth of PBRA expenditures.

The Virginia Housing Development Authority (VHDA) has announced that effective January 1, 2012, only VHDA-approved market analysts will be authorized to complete market studies for Low-Income Housing Tax Credit (LIHTC) projects.

The Georgia Department of Community Affairs (DCA) has announced the 2012 Qualified Allocation Plan Application Workshop will take place Tuesday, February 28, 2012 from 9:00 am to 4:00 pm at the Cobb Galleria Centre in Atlanta, GA.

Community Development Financial Institutions Fund (CDFI Fund) has updated its Frequently Asked Questions document on New Markets Tax Credit Compliance and Monitoring.