General News

Compilation of State Housing Finance Agency from across the nation for the week of October 20.

HUD recently published the 2015 Operating Cost Adjustment Factors (OCAF) for project based assistance contracts for eligible multifamily housing projects having an anniversary date on or after February 11, 2015.

HUD recently released a memo outlining specific steps for Owners/Agents who choose to implement a smoke-free policy within their portfolio as well as a Smoke Free Action Guide created by the Office of Healthy Homes.

The District of Columbia’s fiscal year (FY) 2015 Budget Support Emergency Act, which became effective on October 1, 2014, implements a low-income housing tax credit (LIHTC) for the District of Columbia.

A distressed YWCA in Cambridge, Massachusetts rehabilitated to 103 SRO units for formerly homeless and disabled women; a former Reynolds Wrap aluminum foil factory converted into 174 luxury apartments on Richmond, Virginia’s Canal District; and the adaptive reuse of the historic Schmidt Brewery into artist lofts in St. Paul, Minnesota are among the nine winning projects for the 10th Annual J. Timothy Anderson Awards for Excellence in Historic Rehabilitation (Timmy Awards).

The 2014 Fall Forum, the 21st event held each autumn in Boston, bristled with energetic discussion of the methods to help your investor out of an LIHTC deal after 15 years, the confusing interplay between federal and state tax credits in light of the lack of consistency among the state programs, and the 25-year successful struggle to recapitalize Massachusetts SHARP Program debt following the 1990 market crash that stagnated rents and negated projections.

Providing housing and its resultant community benefits not just as an occupation, but as the means to sustaining the American dream, was the theme that ran throughout the emotional ceremony honoring Andrea Daskalakis and David Abromowitz as winners of NH&RA’s 2014 Affordable Housing Vision Awards for Career Achievement.

HUD recently published a draft rule in the Federal Register proposing to implement certain reforms to HUD’s Section 202 and Section 811 programs.

HUD Recently released Housing Notice H-2014-14 to provide guidance about policies and procedures for transferring all or a portion of any remaining budget authority of a project-based Section 8 Housing Assistance Payments (HAP) Contract to one or more contracts.

This week the California Tax Credit Allocation Committee (TCAC) and Other Agencies released the state’s long awaited California Affordable Housing Cost Study. Data was collected and analyzed from hundreds of multifamily projects completed between 2001-2011.

HUD recently released a Notice in the Federal Register announcing the final fiscal year (FY) 2015 Fair Market Rents (FMRs) for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Programs.

A key element in the development or acquisition of a low-income housing tax credit (LIHTC) property is the real estate appraisal.