Qualified Allocation Plans
Texas Invites Public Comment on Income-Averaging, Tie Breaker
The Multifamily Finance Division of the Texas Department of Housing and Community Affairs (“TDHCA”) held its last two scheduled meetings for the 2019 Qualified Allocation Plan (“QAP”) and Uniform Multifamily Rules on May 23, 2018, and May 25, 2018. To provide more opportunities for stakeholder input, staff has created two TDHCA Online Forums.
Oregon Awards Nearly $54 Million in LIFT Funding to 9 Projects
Each of these developments is highlighted by robust service partnerships and targeted outreach to work to address disparities and ensure that the future residents have opportunities to achieve self-sufficiency.
Minnesota Passes Infrastructure Bond Bill Allowing Bond Proceeds for Affordable Housing
On May 30, Governor Mark Dayton signed into law the omnibus bonding bill (HF 4425). The bill authorizes Minnesota Housing to issue additional Housing Infrastructure Bonds (HIBs), approximately $60 million of which will be made available to applicants for the 2018 Consolidated RFP.
Massachusetts Passes $1.8 Billion Housing Bond Bill
Governor Baker signed H.4536 into law on Thursday, May 31. The bill provides $1.8 billion in new spending over the next five years and extends the life of important state tax credit programs.
Maryland Publishes 2018 Competitive Apps, $61.9 Million in Housing Credits Requested
The Maryland Department of Housing and Community Development (DHCD) received 44 applications requesting $45.6 million in Rental Housing Funds (RHF) and $61.9 million of federal Low Income Housing Tax Credits (LIHTC) in the Spring 2018 Competitive Round.
California Publishes 2018 Second Round Guidance Docs for Applicants
Two important guidance documents have been issued for those planning on submitting applications for the California 2018 second round competitive housing tax credit.
NC: LIHTC Creates Healthcare Savings, Generates Tax Revenue, Creates Jobs
The North Carolina Housing Finance Agency recently released two studies, The Impact of the Low-Income Housing Tax Credit in North Carolina and The Low-Income Housing Tax Credit and Neighborhood Property Values in North Carolina.
Massachusetts Senate Passes $1.8 Billion Housing Bond Bill
The bill must now be reconciled with the Housing Bond Bill passed by the House of Representatives in January.
Wisconsin Releases FAQs for 2018 federal and state 4% Housing Tax Credit Round
The FAQs will likely be updated every 7-10 days through the June 29, 2018 application deadline.
Texas Asset Management Division Changes State Service Region Staffing Assignments
Items that are currently in process will continue to be handled by the same Asset Manager unless you are notified otherwise.
Louisiana Releases FAQs for 2018 QAP, Preliminary Deadline June 28
LHC has prepared a listing of the QAP’s most frequently asked questions. In addition, the listing of Official Parish Journals are now available on the website.
Connecticut Releases Guidance for Income Averaging for CHAMP 12 Applications
he Consolidated Appropriations Act of 2018 establishes Income Averaging as a new minimum set-aside election for new Low-Income Housing Tax Credit (LIHTC) developments. Applicants requesting LIHTCs in conjunction with an application to DOH under CHAMP 12 may utilize income averaging.