Qualified Allocation Plans
Texas Revises 2020 Multifamily Uniform Application
The Texas Department of Housing and Community Affairs (TDHCA) Multifamily Finance Division posted a revised 2020 Multifamily Uniform Application, which affects applications that include a request for funding under the Department’s Multifamily Direct Loan Program.
Oregon Solicits Feedback on Legislative Agenda
Oregon Housing and Community Services (OHCS) recently hosted three webinars to preview the 2021 draft legislative agenda.
Oregon Updates LIHTC, HOME Preservation Gap NOFAS
Oregon Housing and Community Services (OHCS) identified several issues with its 2020 nine percent LIHTC, HOME and Preservation Gap NOFAs.
North Dakota Appoints David Flor as Executive Director
The North Dakota Industrial Commission appointed David A. Flohr as the executive director of North Dakota Housing Finance Agency (NDHFA).
North Carolina Extends 2020 LIHTC Deadline to May 19
During routine network maintenance, the North Carolina Housing Finance Agency experienced a hardware failure that impacted the entire network and prevented the mass notification of interested parties that the tax credit application system would be unavailable for an undetermined period of time.
California TCAC Schedules May 20 Meeting
The California Tax Credit Allocation Committee (TCAC) will host a meeting at 11:00 am PDT on May 20.
Connecticut Extends Ten Percent Test, Placed-in-Service Deadlines
The Connecticut Housing Finance Authority (CHFA) is offering owners that have or will execute a carryover allocation agreement between December 1, 2019 and December 31, 2020 the ability to request the following extensions:
A six-month extension of the ten percent test deadline for carryover allocations as required by Internal Revenue Code (IRC) Section 42(h)(1)(E)(ii) and IRS regulation 1.42-6.
A 12-month extension of the placed in-service deadline as required in IRC Section 42(h)(1)(E)(i).
Kentucky Postpones 2021 Multifamily Non-Credit Funding Round
As a result of the ongoing COVID-19 pandemic and concern about available resources, Kentucky Housing Corporation (KHC) postponed its anticipated funding round for non-credit multifamily projects. If additional funding resources become available, KHC will re-evaluate the feasibility of opening a non-credit funding round later in the year.
Comments on Kentucky’s Consolidated Plan, Annual Action Plan Due May 19
Kentucky Housing Corporation (KHC) amended the 2015-2019 Consolidated Plan and 2019 Annual Action Plan and is accepting comments through May 19. KHC recently received additional funding allocations through the CARES Act for CDBG, ESG and HOPWA, necessitating amendments to planning documents.
New Jersey Extends Nine Percent LIHTC Deadlines
The New Jersey Housing and Mortgage Finance Agency is extending the ten percent test and placed-in-service deadlines for all 2018 and 2019 nine percent LIHTC owners
Ohio Urges Against Rent Increases, Extends Recertification Protocol through June
The Ohio Housing Finance Agency (OHFA) strongly encourages that owners and management companies of housing projects financed in whole or in part by the agency, suspend all rent increases while Governor Mike DeWine’s COVID-19 State of Emergency or the President’s Major Disaster Declaration remain in effect.
Connecticut Offers COVID-19 Financial Relief for Multifamily Mortgagors
Any mortgagor of a multifamily rental housing development in the Connecticut Housing Finance Agency (CHFA) portfolio who is experiencing financial distress due to COVID-19