News

Alabama

IRS Announces 2013 Carryover Allocations Totaling $2.46 Million

The Internal Revenue Service (IRS) recently published Revenue Procedure 2013-31, which details the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers allocated for calendar year 2013.

Michigan

Proposed: Michigan Updated Gap Financing Program

The Michigan State Housing Development Authority (MSHDA) has released an updated draft of the MSHDA Gap Financing Program. MSHDA is currently accepting comments on the draft and there will be a presentation at the MSHDA Board meeting on September 25, 2013. The intention of program update is to address concerns of the competitive nature of the program.

congress-capitol

House Subcommittee Examines HUD Spending Programs

The U.S. House of Representatives House Financial Services Oversight and Investigations Subcommittee recently held a hearing about reducing waste, fraud, and abuse at HUD.

NH&RA News

USDA RD Proposes New Rule to Make the RDVP Permanent

The U.S. Department of Agriculture’s (USDA) Rural Housing Service (RHS) recently published a proposed rule in the Federal Register to establish new regulations to implement its Rural Development Voucher Program (RDVP) as a permanent program.

New Jersey

NJ Governor Announces Neighborhood and Community Revitalization Program

New Jersey Governor Chris Christie recently announced a new statewide initiative, the Strong NJ Neighborhood and Community Revitalization (NCR) program which will offer financial assistance to support development and public improvement projects; main street revitalization; and Community Development Financial Institutions (CDFIs) providing loans to small businesses.

NH&RA News

Recent Study Examines Location of LIHTC Properties and Effect on Segregation

The Fair Housing Justice Center (FHJC) released a report entitled Choice Constrained, Segregation Maintained: Using Federal Tax Credits to Provide Affordable Housing that examines the location of affordable housing / Low Income Housing Tax Credit (LIHTC) properties and how where the housing is located can perpetuate segregation.

Wyoming

2014 Wyoming QAP: Public Hearing

The Wyoming Community Development Authority (WCDA) will conduct a public hearing on September 20, 2013 at 2:00 pm to solicit comments for the 2014 Wyoming QAP.

Connecticut

2013 Connecticut QAP: Overview Session & Deadline

The Connecticut Housing Finance Authority for an Overview Session for the 2013 competitive 9% Low-Income Housing Tax Credit round on September 16, 2013 from 9:00 am to 11:00 am.

HUD

HUD Issues Notice on IRP Decouplings

HUD’s Office of Multifamily Housing recently published Notice H 2013-25 establishing updated procedures for the optional continuation of Interest Reduction Payment (IRP) assistance when projects assisted under Section 236 are refinanced.

IRS

IRS Publishes LIHTC Newsletter #52

The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for information about Section 42, the Low-Income Housing Tax Credit (LIHTC), and communicates technical knowledge and skills, guidance, and assistance for developing LIHTC properties.

HUD

HUD Requesting Comments on Multifamily Mortgage Processing Requirements

HUD submitted a notice in the Federal Register requesting comments on technical processing requirements for multifamily project mortgage insurance.

IRS

IRS Invites Comments on LIHTC Utility Allowance Regulations

The Department of Treasury’s Internal Revenue Service (IRS) recently invited public comments on carryover allocation documents, election statements, and binding agreements related to Low-Income Housing Tax Credit (LIHTC) and Section 42 utility allowance regulations.

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