News

The Massachusetts Department of Housing and Community Development (DHCD) announced the start of their summer 2013 affordable housing competition for rental projects. The DHDC will accept applications from sponsors whose projects were pre-approved in June 2013 through DHCD’s pre-application process.

HUD recently released Notice H 2013-19 to extend and revise Notices H 2010-13, H 2011-4 and H 2011-35 concerning Loan Committees and all prior administrative guidance regarding Loan Committee policy and procedures.

For the FY 2013, the Arizona Department of Housing expects to allocate approximately $1,232,588 in Community Development Block Grants (CDBG) Project funds for State Special Projects (SSP). There will be one competitive funding round and the application deadline is on Monday, December 2, 2013 at 4:00PM.

The Office of Management and Budget (OMB) recently sent a letter to agency and department heads informing them that FY 2015 budget submissions should include reductions that bring the overall submission to a level that is 10 percent below the net discretionary FY 2015 total provided for the agency in the FY 2014 budget.

An updated Draft 2014 Special Interim Qualified Allocation Plan (QAP)and Draft Selection Criteria for the Low Income Housing Tax Credit(LIHTC) Program has been posted to the Louisiana Housing Corporation’s website.

The Alaska Housing Finance Corporation announced the start of the FY2014 GOAL Competition, which provides grants, federal tax credits, and zero-interest federal loans to developers and project sponsors to build affordable housing for low to moderate income families and seniors.

Senators Roy Blunt (R-MO) and Jay Rockefeller (D-WV) recently introduced a measure to make permanent the New Markets Tax Credit (NMTC) program. The NMTC program was recently extended in the fiscal cliff deal but is set to expire at the end of 2013.

HUD recently released Notice H 2013-16 to notify owners of properties with a Section 515 Rural Rental Housing loan from the United States Department of Agriculture (USDA) and a Section 515/8 New Construction Housing Assistance Payments (515/8 HAP) contract from HUD that HUD is no longer requiring the submission of annual financial statements (AFS) for these properties.

HUD published a notice in the Federal Register to announce the inflation factors that will be used to adjust FY 2013 renewal funding for the Tenant-Based Rental Assistance voucher program or Housing Choice Voucher (HCV) program.

The New Markets Tax Credit (NMTC) Coalition recently released its annual 2013 NMTC Progress Report, which examines the NMTC activity and progress for most Community Development Entity (CDE) raising capital and making loans and investments in calendar year 2012.

HUD recently released Community Development Block Grant Program (CDBG) and HOME Investment Partnership Program formula allocations for FY 2013.

The National Affordable Housing Management Association (NAHMA) recently released its Affordable 100 which ranks the largest affordable multifamily property management companies, ranked by affordable unit counts. In an effort to accurately determine the portfolio of affordable units receiving federal subsidy in the United States, NAHMA publishes this annual listing of affordable units containing at least one of the following federal subsidies: HUD Project-based Assistance, Section 42 LIHTC, HOME funds, USDA Section 515, or Bonds.