General News

Boston developer Lawrence Curtis was elected President of the National Housing & Rehabilitation Association (NH&RA) at our 2009 Annual Meeting in Key Largo, Florida, March 11-15, 2009.

Two congressional leaders have sent a letter to the U.S. Treasury Department asking it to promptly issue a revenue procedure to implement the new authority for state housing credit agencies to exchange low-income housing tax credit authority for cash grants, as authorized by the American Recovery and Reinvestment Act of 2009.

The Ohio Housing Finance Agency has published a draft implementation plan for the new funding programs provided by the American Recovery and Reinvestment Act (ARRA).

The Georgia Department of Community Affairs recently issued a preliminary implementation plan that it will use for allocating housing resources provided by the American Recovery and Reinvestment Act (ARRA).

The U.S. Department of Housing and Urban Development’s Economic and Market Analysis Division has published a Comprehensive Market Analysis report for the San Antonio, Texas market area.

The U.S. Department of Housing and Urban Development has published the latest annual indexed loan limits for its multifamily mortgage insurance programs, including Section 221(d)(3) and others.

We are pleased to announce that Mercedes Márquez, General Manager, Los Angeles Housing Department will be delivering the Luncheon Address for the 2009 Spring Developers Forum, May 11-12 at the Hyatt Regency Century Plaza, Los Angeles, California.

Novogradac & Company published in its April New Markets Tax Credit Report an article exploring IRS Private Letter Ruling 200910024 (PLR), released March 6, 2009, which addresses the targeted population’s gross income requirement.

Tennessee Housing Development Agency (THDA) Executive Director Ted Fellman recently issued a memo that provides a set of guiding principles that THDA will use to implement the housing tax credit relief provisions contained within the American Recovery and Reinvestment Act (ARRA) as expected guidance is made available by the Treasury and HUD.

The Florida Housing Finance Corporation has scheduled a public hearing on April 8 in Tallahassee to receive comments and suggestions from interested persons relative to the methodology to be used regarding the implementation of the American Recovery and Reinvestment Act.

Arkansas Governor Mike Beebe last week signed into law the Arkansas Historic Rehabilitation Tax Credit Bill.

The Wisconsin Housing and Economic Development Authority on March 27 issued a reminder to prospective applicants for low-income housing tax credits, saying that WHEDA isn’t currently accepting applications for new LIHTC funds authorized by the American Recovery and Reinvestment Act (ARRA), and isn’t accepting applications that identify these funds as a source of financing.