General News

The Alabama Housing Finance Authority (AHFA) is accepting public comments by May 20 with regards to the proposed allocation plans for the TCAP and Tax Credit Exchange programs under the American Recovery and Reinvestment Act.

Maryland’s Department of Housing & Community Development (DHCD) recently issued a notice of guidance with respect to the Tax Credit Exchange Program (TCAP) and the Tax Credit Monetization (Exchange) provisions of the American Recovery and Reinvestment Act.

Three nominees for top posts at the U.S. Department of Housing and Urban Development (HUD) were sworn in on May 4 after being confirmed by the U.S. Senate on May 1. They are: Helen Kanovsky, General Counsel; Peter Kovar, Assistant Secretary for Congressional and Intergovernmental Affairs; and John Trasviña,, Assistant Secretary for Fair Housing and Equal Opportunity.

The CDFI Fund is inviting general comments concerning the “New Markets Tax Credit (NMTC) Program-Community Development Entity (CDE) Certification Application.”

Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development (HUD), on April 20 announced his department “within days” will sign an agreement to make federal weatherization program funds automatically available for use in HUD programs.

National Council of Affordable Housing Market Analysts recently convened its Spring Public Policy & Market Study Forum April 6-7 in Washington DC. This featured sessions explored the root causes of troubled properties and common sense solutions to help get them back on their feet.

HUD has issued a notice setting forth the submission requirements, eligible uses of funds, and program requirements for the Tax Credit Assistance Program (TCAP).

The Wisconsin Housing and Economic Development Authority has released a memorandum dated May 4 that describes administrative changes that will be made to its 2009 low-income housing tax credit (LIHTC) program.

The Community Development Financial Institutions (CDFI) Fund has issued a new document listing and answered frequently asked questions on compliance issues under the federal new markets tax credit program.

The USDA Rural Housing Service has published a notice to establish a demonstration Rural Development Voucher Program.

The U.S. Department of Housing and Urban Development (HUD) has published a notice soliciting public comments and recommendations for how the Department can expedite approvals of applications for FHA multifamily mortgage insurance for loans to finance low-income housing tax credit projects.

A newly released private letter ruling from the Internal Revenue Service says that the costs of infrastructure improvements connected with a low-income housing tax credit project that are paid for by the taxpayer and dedicated to the city are includible in the basis of each low-income building in the project, and are includible in tax credit eligible basis.