Qualified Allocation Plans

The California Tax Credit Allocation Committee released the 2020 Second Round Applicant List as of July 15 and a list of applicants requesting nine percent and Tax-Exempt Bond Financed four percent requesting federal and state credits.

Governor Larry Hogan (R) announced a $30 million rental assistance program to prevent evictions and help Marylanders affected by the COVID-19 pandemic. The State’s allocation of $20 million in Community Development Block Grant (CDBG) COVID funding will be deployed across local jurisdictions in Maryland to provide further support for local eviction prevention programs.

The Alabama Housing Finance Authority will hold a public hearing at 9:00 am CT on July 21 concerning the proposed 2021 HOME Action Plan, the Housing Credit Qualified Allocation Plan and the National Housing Trust Fund Allocation Plan (Plans) for the distribution of HOME funds, Housing Credits and National Housing Trust Funds in exchange for the new construction and substantial rehabilitation of low-income projects and for the monitoring of HOME, Housing Credits and National Housing Trust Funds for all projects. The hearing will be held at the Riverwalk Stadium located at 200 Coosa Street, Montgomery, AL, 36104.

The Alabama Housing Finance Authority will hold a public hearing at 9:00 am CT on July 21 concerning the proposed Substantial Amendment to the HUD Approved 2020 HOME Action Plan for the distribution of HOME funds in exchange for new construction of low-income projects and for the monitoring of HOME projects. The hearing will be held at the Riverwalk Stadium located at 200 Coosa Street, Montgomery, AL, 36104.

The State of Florida has been awarded funding through the Coronavirus Aid, Relief and Economic Security (CARES Act) Coronavirus Relief Funds (CRF) to provide rental assistance for residents in Florida Housing funded developments. The owner’s Invitation to Participate is now available, but is subject to the approval of the FHFC Board of Directors at the July 17, 2020 board meeting.

Using these funds, Florida Housing will subsidize eligible households’ rents by providing payments to owners of participating properties. Payments will not be made to individual resident households. The rental assistance will be available to help pay an eligible household’s rent for July through December 2020, as well as rent arrearages accrued during the months of April, May and June 2020. All funds must be expended by December 30, 2020.

On July 13 at 9:00 am CT the Indiana Housing & Community Development Authority (IHCDA) began accepting applications through the Rental Assistance Portal. The portal connects Hoosiers to a variety of rental assistance programs administered by IHCDA.

Minnesota Housing is now accepting applications from entities interested in serving as administrators for the 2020 COVID-19 Housing Assistance Program (CHAP). Grants will be made to entities that will use the funds to provide housing assistance to prevent homelessness and help maintain housing stability of individuals and families impacted by the public health-related emergency.

The New Jersey Housing and Mortgage Finance Agency is requiring that all nine percent LIHTC applications be submitted electronically through LeapFile to the LIHTC mailbox by 12:00 pm ET on September 23. The application fee of $4,000 must be sent by check only—no wires—and must be received by September 23 deadline also.

The New Jersey Housing and Mortgage Finance Agency updated its Multifamily Underwriting and Financing Guidelines and Policy, effective as of June 25, 2020. These Multifamily Policies have been amended to include requirements for the allocation of Sandy Disaster Recovery Program subsidies as provided in the 2014 “Voluntary Compliance Agreement and Conciliation Agreement” (VCA) with HUD.

The Texas Department of Housing and Community Affairs (TDHCA) is releasing a draft rule for public comment, 10 TAC Section 1.21, regarding action by the department if outstanding balances exist. The public comment period begins on July 31, 2020, and ends on August 31, 2020, at 5:00 pm CT.

The Vermont Housing Finance Agency (VHFA) announced the launch of the VHFA Housing Investment Fund with the Vermont Community Foundation (VCF) as its founding investor. The VHFA Housing Investment Fund will initially focus on the development and preservation of affordable rental housing, consisting of both short-term pre-development loans and much needed long-term fixed-rate 20- to 30-year permanent loans for projects.

The Wisconsin Housing and Economic Development Authority (WHEDA) finalized in 2021-2022 QAP, which incorporates several key changes in the application review process.