General News

The General Accountability Office has issued a new report on the Military Housing Privatization entitled “Housing Privatization: DOD Faces New Challenges Due to Significant Growth at Some Installations and Recent Turmoil in the Financial Markets.” The report finds that several force structure and infrastructure initiatives are compounding DOD’s and the developers’ challenges in ensuring that affordable and adequate military family housing will exist when needed.

The Arizona Department of Housing has published its revised draft qualified allocation plan for the 2009 low-income housing tax credit program.

The Arizona Department of Housing has published and is accepting public comments on its draft application for Tax Credit Assistance Program (TCAP) funding under the American Recovery and Reinvestment Act.

In a letter dated May 11, 2009, California State Treasurer Bill Lockyer sent a letter to key staff at the Department of the Treasury, HUD and the IRS expressing concerns about the recent Application and Terms and Conditions guidance for the implementation of Section 1602 (the Exchange Program) of the American Recovery and Reinvestment Act (ARRA).

NH&RA will continue to update the ARRA resource page below as information is made available.

The Community Development Financial Institutions (CDFI) Fund recently announced that it had received a total of 249 applications for New Markets Tax Credits (NMTC) under the 2009 funding round.

Today, the U.S. Department of Housing and Urban Development released Notice H 09-02, which provides guidance on the Green Retrofit Program for Multifamily Housing (GRP), created under the American Recovery and Reinvestment Act. The notice provides details on program implementation, the application process, eligible projects and the approval and allocation process.

The Virginia Housing Development Authority LIHTC Program Director Jim Chandler has issued the authority’s third notice of program updates for applicants seeking 2009 low-income housing tax credits.

Ron Sims, a former executive of King County, WA, was recently sworn in as the new Deputy Secretary of the U.S. Department of Housing and Urban Development.

The New Jersey Assembly’s proposed Historic Property Reinvestment Act (A791) recently passed the Assembly’s Environment and Solid Waste Committee by a unanimous vote and is scheduled for hearings with the Appropriations Committee and Senate Wagering, Tourism & Historic Preservation Committee.

The Illinois State General Assembly has introduced Senate and House version bills (HB0586 and SB1366) that would create an Illinois state historic rehabilitation tax credit equal to 25% of the costs involved in rehabilitation of eligible historic properties.

The California Tax Credit Allocation Committee (TCAC) has made available its application for cash in lieu of tax credits under the Tax Credit Exchange program, created by the American Recovery and Reinvestment Act.